by Myles Biggs
All of the recent news about housing has been buzzing about
the emerging seller’s market. Well, once you sell your house, you are faced
with having to either buy or build a new one. Did you know - most homebuyers
can afford to build a new home for about the same overall cost of buying an
existing home?
A study released by the National Association of Homebuilders
aggressively compares the two. Their research revealed the following:
- Operating costs average just over $6,900 a year.
- The largest operating costs are fuels and
property taxes – at just under $2,500 each.
- Narrowly defined maintenance costs average $547
a year, but decline as the home becomes newer – from $564 a year for homes
built before 1960 to just $241 for homes built after 2008.
- Overall operating costs average $3.77 per square
foot.
- Operating costs per square foot decline as the
home becomes newer, from $4.26 per square foot in homes built before 1960 to
$2.92 for homes built after 2008.
- Overall annual operating costs average 4.24
percent of the home’s value.
- Operating costs as a fraction of value also
decline as the home becomes newer, from almost 5 percent of the home’s value
for those built before 1960 to just below 3 percent for homes built after 2008.
The study,
which assumes that the typical buyer is purchasing a home for $200,000, shows
that a buyer can afford to pay 23 percent (or $37,655) more for a new home than
for one built before 1960. This savings is enough to cover the price of an
extra, full bathroom.
Combine these savings with the historically low interest
rates on mortgages and low housing inventory and you have yourself a very
convincing argument for building instead of buying.
Building a Modular Home
Installation
Certain flooring may be installed during the production process, allowing homes to be built quickly and efficiently.
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Installation
Certain flooring may be installed during the production process, allowing homes to be built quickly and efficiently.
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Indoor Accuracy
By building inside, each wall is able to be built without the threat of weather or on-site damage.
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2” x 6” Exterior Walls
Available in either 16” on center or 24” on center to increase the strength of the home and allows for a deep insulation cavity for maximum energy efficiency.
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2” x 4” Interior Walls
Available in either 16” on center or 24” as dictated by local building codes.
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Functional Work Stations
Pictured above, a completed wall section is transported by crane to a floor system, where it will be installed.
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Increased Support
Additional framing material is used to reinforce areas throughout the home.
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Precision Drywall Application
Our skilled craftsman apply drywall mud over taped butt joints to present a smooth wall finish.
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Spray Adhesive
Spray adhesive is used to affix roof systems to drywall, in an effort to reduce nail pops and compensate for differences between each board. The result is an extremely smooth end product.
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12” Overhang
Provides for a more attractive exterior elevation.
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Blown-in Ceiling Insulation
Facilitates an energy-efficient home that complies with code requirements. Batt insulation is also available.
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Roof Sheathing
Our half inch roof sheathing allows for a sturdy roof construction and for a portion of shingles to be applied while each home is still in the production facility.
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Barrier Wrap
In order to create a weather-tight seal and prevent air infiltration, each house receives this wrap.
Now that you’re convinced building a new home is a better investment, your choice is between an on-site, stick-built home and an off-site, modular/system-built home. Before you jump to any conclusions, answer this question:
Would you have the parts to your new car shipped to your house and then assembled in your driveway? Of course not!
That would mean your new car would be exposed to any changes in weather, the parts needed to build the car would be at risk for theft and, once completed, the car itself would be more likely to have structural problems in the future.
The same is true for your home.
Modular homes are built in an indoor, climate controlled facility by skilled craftsmen who have become experts in every area of custom home construction. There are several advantages to this indoor, system-building process - we can eliminate your home’s exposure to the elements during construction, reduce on-site construction theft and can engineer a strong, more dependable home.
In addition to these basic advantages, choosing off-site construction means that your come can be built in our production facility at the same time your foundation is being poured and other site work is completed. By working on both parts of the process at once, we can reduce the length of your construction loan – saving you money on interest.
For those of you that have heard the misconception that modular homes lack architectural designs and cannot be customized, we encourage you to browse our interior and exterior photo galleries, as well as our hundreds of customizable floor plans. You will find that these homes have immense curb appeal and incredible interior options.
If you are serious about moving out and moving up, custom modular homes may be your best option.
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