A home purchase is one of the largest purchases you will make in your life. But because you can plan to live in it long-term, your property's value will increase overtime and you can build on your future equity.
A modular home is a great option for buying a home, and can be customized with a variety of features, additions, and amenities based on your needs. Here are some tips to help you buy modular homes for sale and have yours installed on your own plot of land.
Buy Your Own Plot of Land
Before you can consider buying a modular home, it is important that you have a plot of land on which to place the home once its construction has begun off-site. You will need a piece of land that will accommodate your new home and the surrounding yard and landscaping you plan to install. Keep in mind if you buy your own land, your home's value will be dependent on other homes in the area and will help you build equity in the long run.
You can look for a plot of land that is within any area you prefer, and can be situated on the size of land you want. For example, if you want to buy a plot of land that includes 20 acres and is zoned for agricultural, you can have a large sized property for your horses or other farm animals. However, you can also buy a plot of land in a planned subdivision of other modular homes. Keep in mind any HOA (homeowner's association) fees that might be a part of your land purchase, especially if it is within a planned and managed subdivision.
Prepare the Site
The plot of land you have selected for your new modular home needs to be prepared for the arrival of your home to be completed on site. This includes pouring a concrete foundation in addition to preparing the electrical lines connected to the local electricity service and ensuring the home is connected to city sewer or a septic system.
A foundation is essential because most mortgage companies won't lend you the funds to buy your home unless it is installed on a permanent foundation. So contact a contractor to prepare the site and pour a concrete foundation to fit your home. If you choose to have a septic system with your new home, you will need to have it installed on your land, which means installing a tank within the property and adding in a drain field.