Step 1: Decide on Your Home Size, Location, and Budget
Before you begin shopping, take time to think about what you need in your new home. Consider factors such as:
Total square footage Number of bedrooms and bathrooms Home office or utility room Walk-in pantry or walk-in closets Additional storage space
You'll also want to decide where your home will be placed. Some buyers already own land, while others purchase land during the homebuying process. Depending on your retailer, land-home packages may also be available.
Next, establish a budget. In addition to the cost of the home itself, remember to account for expenses such as land (if needed), delivery, installation, and site preparation. Your retailer can help explain these costs and provide estimates based on your project.
Step 2: Visit a Modular Home Retailer
A modular home retailer plays an important role throughout the buying process. Rather than purchasing directly from the manufacturer, you'll work with a retailer who will help guide you from selecting a home to completing your purchase.
Visiting a retailer allows you to:
- Tour model homes in person.
- Compare different floor plans and features.
- Discuss your budget and available options.
- Learn about customization choices.
- Determine which homes work best for your property.
- Work with one knowledgeable contact throughout the process.
Seeing homes in person can make it much easier to narrow down your options and choose a floor plan that fits your lifestyle.
Step 3: Secure Financing
Modular homes typically qualify for many of the same financing options available for site-built homes.
Common financing options include:
- Conventional loans
- FHA loans
- VA loans
- USDA loans
- Fannie Mae and Freddie Mac programs
- Construction loans
Your monthly mortgage payment may include the loan principal, interest, property taxes, homeowners insurance, and mortgage insurance when required.
Before applying for financing, lenders generally review your credit score, debt-to-income ratio, and employment history. Many retailers can also recommend lenders who are familiar with modular home financing.
Step 4: Choose Your Home and Personalize It
Once you're ready to purchase, your retailer will help you select your floor plan and submit the order to the manufacturer.
Many modular homes offer customization options that allow you to personalize both the interior and exterior. Depending on the home and manufacturer, you may be able to choose upgraded finishes, larger showers, additional cabinetry, premium siding or windows, porches, garages, and other design features.
These options allow you to create a home that better fits your style and everyday needs.
Step 5: Installation and Move-In
After your home is delivered, it will be installed on its permanent foundation. This installation process generally includes two stages: setting the home on the foundation and completing the finishing work.
During the finishing stage, contractors complete the remaining details to prepare the home for occupancy. This may include connecting utilities, completing interior finishes, installing the HVAC system, and finishing exterior features.
The finishing timeline varies depending on the size and complexity of the home but typically ranges from several weeks to a few months.
Once all inspections have been completed and the home is ready for occupancy, it's time to move in and enjoy your new modular home.
Ready to Get Started?
Buying a modular home is a straightforward process when you understand each step. By planning your budget, working with an experienced retailer, securing financing, selecting the right home, and completing the installation process, you'll be well on your way to owning a durable, high-quality home that meets your needs.