Tidewater Custom Modular Homes Blog

Although the concept of modular construction seems relatively new because of the increasing interest, it has been around awhile.  The concept of modular construction is confusing for new home buyers mainly because it is confusing trying to discern the information you do come across about modular homes, the modular construction process and modular home manufacturers.

We would like to help clarify these myths and help you make a good educated decision for your personal situation.
Modular homes are built in factories to specifications created by the manufacturer and the state and local building codes. The design can be standard or it can be enhanced by the customer/new home owner.

A General Contractor, such as Tidewater Custom Modular Homes, works with the manufacturer. The General contractor coordinates the construction of the home in the factory and the delivery and assembly of the home on the site.

The general contractor provides and coordinates the site work (foundation), plumbing, electrical, and licensing and permits. This is why they are called the general contractor. Once you select a GC, you don’t need to do anything else regarding the construction of the modular home.

Many people think that modular homes are cheap or inexpensive. As compared to the cost per square foot of a stick built home, they are less expensive. However, modular homes are an expensive investment especially depending on how large a home you build. They do, however, generally cost 10-35% less to build than traditional homes. When you are comparing new home construction prices, make sure you are comparing the same type of house i.e square footage, amount of bathrooms, etc.

Modular homes appreciate and gain value the same way traditional homes do. Once a modular home is built, it is near impossible to tell the difference between it and a stick built home.

Modular homes can all be customized. Each modular home manufacturer or contractor has different designs to choose from. Those designs can be further customized. Additionally, you can easily customize the windows, doors, siding, colors etc. Modular homes make it very easy to have a custom home at an affordable price.

One of the biggest questions, or deterrents, pertaining to building a new home is the construction timeline. What is the process and how long will it take? With modular homes, are large part of the “decision to build thru moving in” time line is removed. Believe it or not, it generally takes from 60-120 days until you can move in and call your new house a home.

Modular homes are similar to on-site construction or stick built homes in appearance and performance. But one huge advantage of modular construction is the shortened timeline which results in cost savings.

The parts or modules of a modular house are constructed in a climate controlled factory which removes weather delays entirely. This also increases efficiency which allows your home to be built faster which also costs less.

By having a workspace for building the modular home that is separate from the construction site allows for many steps to be done at the same time. In other words while your building site is being prepared; the ground leveled, the foundation poured, your walls and roofs are already being built at the factory.

Contact Tidewater Custom Modular Homes if you want to build a new home, but you don't want to wait for it.

We get this question all the time.  "What is the price of a modular home?" Just like with stick built homes, so many things come into play in making this determination.

Ranch homes generally cost more per square foot  than a two story home. In the end however, they end up having a lower final price because they have less square footage. The fixed costs: foundation, site preparation and septic, all cost the same no matter what style home you build. Two story homes  use a smaller foundation. However, the square footage is greater because you have more than one floor. The larger the home, the more modules you will require, and more modules means higher costs. When you customize the modular floor plan, the costs increase as well.

Modular manufacturers have factory model homes which cost less than custom designed homes. Obviously custom designed homes will cost more.

For more information on the cost of a modular home, contact Tidewater Custom Modular Homes.

To build a modular home you need to pay the modular home company for building the modules and the general contractor for his services. If you do not own property, you also need to purchase that.

There are two typical sources of these funds. The first is private funds, such as personal savings, an equity loan on another property, or the sale of personal assets. The second is obtaining a mortgage through a lending institution, like a bank or mortgage company.

There is one major difference between paying for an existing, already built home and paying for building a new home. When you buy an existing home you pay the seller in full before you take possession of the home, usually through the mortgage. When you build a home, you make periodic payments as the work is completed. This protects you and the lender should something prevent the completion of the home on the GC end. Receiving compensation as the job progresses also protects the modular home company or dealer and the general contractor should something prevent you from paying for the finished home.

When you use a lender to build a home, you obtain a "construction loan" which is a short-term loan usually four- to twelve-months' duration. The loan provides for a series of payments as work is completed. Once the local building inspector issues a certificate of occupancy and the lender agrees that the home is essentially complete, the lender pays off the construction loan and issues you a mortgage.

What is the most different regarding construction loans for modular home construction is the time line. With traditionally built, stick built homes, the construction process is very long, a year or longer in some cases. The modular construction process is much shorter, a couple of months only.