Introduction
According to Mark Roemer Oakland, real estate prices aren’t coming down any time soon and the same holds for student debt. Homeownership is the last thing a working individual has the time to think about. However, that could change with modular homes. Let’s check out the validity of modular homes moving forward.
The Details
1. Modular homes are treated as regular homes – When it comes to assets, there’s little to no difference between modular and regular homes. Their price depreciates or appreciates similarly to regular homes and the same holds for mortgages and loans. Most people associate modular homes with mobile homes. However, that’s not the case. Mobile homes aren’t treated as regular homes and aren’t a similar asset class since they aren’t built on a solid foundation. While modular homes are fabricated in the factory, they have a permanent steel-beam chassis and can be placed on a solid foundation.
2. They are more sustainable – With climate change showing its ugly head every day and painting a more dire picture progressively, more sustainable methods of construction are necessary. Building and construction alone account for around 40 percent of all carbon emissions in the world. Moreover, 40 percent of construction materials end up in a landfill. To bring that number down and create a more sustainable future, modular homes need to replace regular construction projects on a large scale.
Unlike regular stick-built homes, modular homes are more sustainable and eco-friendlier. They don’t just use less energy while being occupied but are also very easy to recycle and deconstruct at the end of their lifespan. As they get recognized by both state and federal governments as a green form of building, people may be incentivized to choose modular homes with tax breaks, similar to residential solar panels.
3. They last longer – Most people assume that modular homes are less safe and less secure. However, that couldn’t be further from the truth. Modular homes can last longer than stick-built homes and are far more durable. They can withstand wind speeds up to 180 mph and which makes them safer and keeps them protected during hurricanes and natural disasters. As hurricanes become more common due to climate change, modular homes have better odds of protecting the homeowner’s investment.
4. They are cheaper – In most decent towns, the average property price often hits above the 2-million-dollar mark. Compared to that, the average modular home costs well below $1 million, and those are the worst possible numbers. In much more modest and rural settings where residential homes cost less than $500,000, modular homes cost less than $100,000. As modular homes make home ownership more affordable, it can be a great solution to solve the homelessness problem in the US.
Conclusion
Mark Roemer Oakland believes that factory-built homes won’t be a strange thought in the future and depending on the rise of planned modular home communities in the upcoming years, it can also solve the homelessness problem to a great extent.
