If you’re planning to buy a new modular home, you should ask the question: will this modular home retain its value like a stick-built home? The resale value of a modular home is subject to the same factors as a stick-built home. Plus, it can even last longer if it’s built by our company because we do all construction in compliance with the appropriate local building codes.
Let’s address three major questions you may have as you decide whether you should buy a modular home:
- How long do modular homes last?
- Do modular homes keep their value?
- Do modular homes lose value?
How Long Do Modular Homes Last?
Modular homes are extremely durable. These homes are built in a factory that does quality-control inspections for each component and at each stage of the building process. Modular homes have a module-to-module combination of units that provide a stronger and more rigid system than conventional stick-built framing.
Keep the following considerations in mind:
- In-house inspection is continuous: All errors and safety issues are detected by our technicians and in-house inspectors before they become hidden.
- Mistakes in stick-built homes are usually hidden: Building inspection on a stick-built home is done when the framing has been completed, so many flaws aren’t detected.
- Modular homes have precise quality control: Our workers perform quality-control checks on each component while it’s being fabricated and after it’s been added to the structure of the house.
Do Modular Homes Keep Their Value?
Your modular home will retain its initial value and even appreciate in value as long as the following factors are in place:
- The right location: If your modular home is located on a lot in a quiet residential zone or in a place that attracts high-net-worth individuals and families, it will appreciate in value.
- Proper styling and appearance: Designing your modular home to fit into the style of the neighborhood will boost its resale value.
- Bonus home features: A home with a full basement, extra square footage, additional bathrooms and large master bedrooms will have a higher resale value when you’re ready to move out.
- An attractive lot: To boost the resale value of your home, you need to carefully consider the size of the lot and the surrounding areas. Ensure that your home is proportional to the lot and that it’s not too different from other lots in the same neighborhood.
Do Modular Homes Lose Value?
If you take our advice seriously, your modular home will have a higher resale value. But for the reasons below, homes in general could lose their value:
- A design that isn’t compatible with other homes in the neighborhood
- Non-compliance with building codes
- Inadequate amenities that fail to attract future buyers
- The surrounding area is busy and noisy
- People aren’t interested in buying homes in the area
Overall, modular homes last as long as stick-built homes, and they are stronger and more durable than stick built homes. As the Federal Emergency Management Agency noted after Hurricane Andrew in 1992, modular homes had minimal structural damage due to the strength of their module-to-module design. We are also very happy to be part of rebuilding homes in the Northeast after Hurricane Sandy.
For more details about how you can design and build a modular home with a high resale value, contact Westchester Modular Homes today.