The question often arises: Do modular homes appraise for the same value as a traditionally built home? Simply put, yes.
In order to buy a home, it must be appraised so you can begin the process of getting a mortgage or loan. An appraisal is the estimated amount a home buyer can expect to pay for their new home. When buying any piece of property, including modular homes, you need a licensed professional appraiser. The question then becomes, if the home is not yet built, how is it actually appraised?
The appraiser will inspect the modular home plans to have an idea of how much your new home should cost. Generally, they use information on labor rates, building costs, and depreciation and appreciation locally where the property is being built. The appraiser will use sales comparisons, prices and values of compatible homes sold in the area, to determine the current value of the modular home.
Once a thorough analysis of the property has been completed, a report is created which is used to initiate the mortgage or loan process. Included in the report would be the property specifications, the replacement cost analysis and the above mentioned comparative sales analysis.
The replacement cost analysis is the total amount spent on the construction and materials of the modular home, and the lot value.
All this will determine the current total value of the property. The modular home appraisal will then be finalized so that the loan transaction can take place. The calculated total value of the modular home will help you determine future expenses such as utilities and real estate taxes.
We field the typical questions regarding financing and insuring modular home construction that our fellow stick builders get. The questions, issues, and processes are exactly the same. Rest assured that we’ll ensure and guide you every step along the way.
Many banks (and we have great relationships lenders across Virginia) value working with modular home buyers. Why? The building process is so much shorter, and the system is so defined that there is little to no risk to the banks.
As far as assessing the value of modular homes; modular homes are assessed in the same way as traditionally built homes. Here is the good news: modular homes cost about 10-15% less to build, but they sell at the same price as a stick built home. Why? Custom modular homes are appraised with the same standards of a traditionally built home; therefore, both types of homes are assessed at the same amount.
Banks and insurance agencies both say there is no difference between stick-built homes and custom modular homes in terms of approval ratings, and cost.
Banks and insurers are well aware that modular home construction strength and building standards exceed that of traditional stick built homes. There may even come a time where insurance companies take into consideration the higher structural integrity of a modular home and insure them at a lower rate.
However, until then, you can rest assured, modular home construction financing will not be a problem; modular homes hold their value in the same way as traditionally built homes; and ensuring your modular home will be no different either. Now that those questions have been put to rest, contact Tidewater Custom Modular Homes for more information.
Many homeowners who seek to add living space are electing to add-on vice sell and move. This is even though the potential for profit on the sale of homes these days is through the roof. Why then the pause to sell? Because the cost of buying is also through the roof. The solution for many here in Hampton Roads is a modular addition to your home. If you love your existing home but need some more space, another bedroom, more bathrooms or an office, modular additions are less stressful, faster and less expensive. In fact, modular additions are the way to add high quality space to your home.
Adding an addition to your home with traditional construction means you will wait months you’re your home addition is complete. Living with your family, kids, in-laws while construction is going on at home means very stressful living conditions. With modular home additions, the addition is built off-site in a factory, then shipped to your home. The modules are placed atop the foundation and attached to your home, then the interior walls are removed to join your existing home to the modular home addition. This means you live “under-construction” for just a few weeks rather than a few months.
With modular home additions adding space to your home is easier than ever because it is quicker and less disruptive to your home life. You can have a modular addition added to your home in a few weeks.
You can increase your living space without the stress of moving. You can add an addition to your home without living in disrepair and all without the disruption of major remodeling. Contact Tidewater Custom Modular Homes for more information.
Many homeowners postpone their home construction plans as the fall and winter kick in, due to weather concerns and delays. Weather absolutely comes into play with traditional construction. However, cold and wintry weather challenges are largely mitigated when choosing modular construction. With this choice in home construction, it is possible to make solid home building progress throughout the worst of winter.
With modular building systems there are no weather delays associated with the modular home’s fabrication process. This is because the modules are built indoors where the weather condition cannot affect the process or the building materials. Site work is done at the same time and can be done on choice weather delays without delaying construction. When the modules are completed, they are then delivered to the actual site. The remaining 10% of the home building process, the final assembly and finishing touches, are performed. So in just a matter of 5-6 weeks, your modular home is completed and ready for occupancy.
If you are planning to build a home this winter, choose to build a modular home. You can pursue this path to a new home during any time of year. Contact Tidewater Custom Modular Homes right away to get started with your dream home.
Modular home construction is increasingly the preferred choice for those planning to downsize. This is due to modular construction’s comparative inexpensive construction cost and overall value advantages. If you are contemplating downsizing to a smaller home, modular home construction can deliver an overall better quality home than traditional stick-built construction while simultaneously paving a road to putting more home equity dollars into your retirement savings.
So, in preparation for your transition to a new modular home, here are some things to consider and act upon to help make your move go smoothly:
Sort Your Stuff - Get rid of those things that you no longer use. Also, minimize collecting duplicate items, they will only take up your space. When designing your modular home, request for more smart storage so you can better organize your stuff.
Retain Those Keepsakes - Get rid of unnecessary things but keep those precious heirlooms, memorabilia, and other stuff that have sentimental value. Work closely with your modular builder so they can provide a spot in your new modular home where you can place these family antiques and other important stuff.
Don't Downgrade - Downsizing doesn't mean your downgrading to a less beautiful and poor quality structure. In contrast, modular homes for downsizers might be smaller than other homes but they are built in premium quality materials and superior craftsmanship. There are a vast array of beautiful home designs that can be further customized to suit your taste and style.
Space Check - Make sure to find the right amount of space that will accommodate your stuff and future guests as well at your new modular home. Take measurements and always work closely with your modular builder to perfect the dimensions of the rooms and sections of your home.
Lastly, find a modular builder you can trust when you opt for a modular home. Contact Tidewater Custom Modular Homes, we are a team of certified modular builders with competitive years of experience. We know the usual needs of those who want to downsize their home. Thus, we can help you build a perfect living space complete with all the specifics you desire.
Environmental concern resides at the global level, national level, and down into the individual level as we all in some way alter our lifestyle to care for mother earth. The modular home construction industry leads the way in building construction with protecting the environment in a way that the traditional stick-built home construction process simply can’t achieve.
Earth friendliness in the home building arena involves two things, less waste and higher interior environmental control efficiency. If you are interested in building a greener home, take a look at modular construction. This is a faster and more economical way to live in an energy efficient home.
“Going Green” has gotten a lot easier with modular construction. With the style of construction, the insulation, windows and appliances, it is easier to be environmentally friendly. If you are building a new home, modular homes are an efficient, cost effective and green choice. Modular homes can be custom built, or you can choose from hundreds of modular homes floor plans. Add your own design details to fit your lifestyle and your budget.
Modular construction lets modular designers create any style home. Modular homes can be designed as anything from a traditional ranch, a contemporary home, or a vacation style home. But regardless of the design, the home will be more energy efficient than a traditionally built home. Certainly, it will be more energy efficient than any existing home. Few existing homes meet the energy standards of new construction homes.
Tidewater Custom Modular Homes builds modular homes. The modules are manufactured in an indoor factory-style setting. This means less materials waste because they are systems built homes. Modules are built in weeks rather than months, which means you could be in your new home in a matter of few months.
For more information on Energy Star rated homes built with modular construction, contact Tidewater Custom Modular Homes.
Here at Tidewater Custom Modular Homes (serving Portsmouth and the greater Tidewater area) we grade ourselves on much more than award winning quality construction and lowest cost per square foot. We value the overall home buying experience as a critical measure of success. We very humbly submit that one of our greatest achievements is the feedback we get from our customers who rave about the home building experience with us while sharing with us the stories of their friends who were not so lucky to have enjoyed the TCM experience.
Custom-built modular homes have proven how one's dream home can be possibly turned and built into a real one, bringing home design and technology to a higher and different level. Each modular home is built in modules inside a controlled environment, complete with attached walls, floor, ceiling, wiring, and other needed fixtures, before it is transferred and constructed on a permanent foundation.
During the designing stage, home builders of modular homes in Portsmouth, VA take the opportunity to evaluate current circumstances in order to create more flexible floor plans. This way, certain constraints that the other techniques of home construction do and can not take into consideration are being effectively dealt one by one. This undertaking results in a risk-free and stress-free modern living.
After careful evaluation, we are able to test the waters and determine design solutions that will be more appealing and convenient for our specific target markets. Updated modular floor plans are now available and affordable but are still flexible enough to be customized to meet your unique requirements and preferences.
To know more details about the latest trends of modular home designs and additional custom features, contact Tidewater Custom Modular Homes.
Don’t be shy to admit it if you are one of those future home buyers who wants to start of the home design with the garage. Yes, we’ll admit very often it’s all about the kitchen, but you like to tinker. You own a custom auto that isn’t quite as precious as your dog, but pretty darn close. Well, dream big and let us execute that dream for you.
If you are planning to build a garage or carport on your home it can be done more quickly through modular construction. Renovation projects using the modular building process means a faster completion time and a notable reduction in construction costs. This is why any home addition can be utilized and enjoyed more when homeowners choose modular home additions.
A modular garage can be constructed with less work on-site. The modules are built in a factory setting and transported to your home when they are ready for assembly, less mess and disruption takes place at your home. Additionally, aside from the basic features, modular garages are delivered and attached to your home with full wiring, outlets and insulation. This means the home project is completed and can be used at maximum efficiency and convenience in no time.
Layout and space for modular garages can be further modified according to the needs of the homeowner. There are limitless possibilities for style and layout since modular building systems use new construction technology for customization. Lastly, the floor plan and features decided upon during the planning stage are stringently followed.
To learn more about modular home additions and modular garages, contact Tidewater Custom Modular Homes.
Our warmest New Year’s wishes from the entire team here at Tidewater Custom Modular Homes. Calendar year 2021 and these ever-challenging global events placed heavy burdens upon us all. But in many ways, and supported by family, friends, and all of you, 2021 was a uniquely remarkable year, reminding us of hope, family, gatherings and more. This time of year reminds us to recognize the joy that each and every one of you has brought to our lives. We recognize that our business exists because of your friendship, fellowship, trust, and loyalty.
Our New Year’s resolution is to nurture our ever strengthening partnership with you and to deliver value to you, your business, and your family through the entirety of 2022.
Throughout this Holiday season may you be blessed with health and surrounded by friends and family. We hope that the new year brings all of you uninterrupted good health, happiness, and prosperity. Happy New Year from Tidewater Custom Modular Homes. As Anne Frank said, “What a wonderful thought it is that some of the best days of our lives haven’t even happened yet.”
Our prayers go out to all those effected by the horrendous tornados that ripped through the American heartland. While very few things can stand up to direct hit from a F3, F4, or F5 tornado, the more common windstorms that occur frequently here in Portsmouth can do damage to your home as well. You significantly reduce the threat of storm damage to your home when it is constructed with modular home construction technology.
At the core of the modular home advantage is the fact that our homes are bolted together. Unlike traditional built homes that are nailed together, it is simple to envision which of the two types of construction is better prepared to stand up to mother nature. This is particularly meaningful for those homebuyers who will reside in hurricane-prone areas like here in Smithfield. Modular homes here in Portsmouth, VA handle the strong northeast storm winds and the high winds associated with various named storms. A number of severe storms devastated Virginia several years ago and it caused property damages reaching billions of dollars. We can expect more of that in the future.
The safe and sturdy nature of modular homes are just two of the countless benefits of modular construction over stick-built homes. We welcome the opportunity to discuss the long list of advantages to include how modular homes provide optimal energy efficiency with low air infiltration so you will significantly lower your energy consumption and energy cost.
Contact Tidewater Custom Modular Homes for more information.