Things to Consider When Building a Prefabricated Home
- Staff
- Oct 21, 2018
- 2 min read
Whether choosing to build prefabricated or traditional - building a home is a major undertaking and most likely one of your biggest decisions in life.
In order to help you prepare for your new build, here are a few of our top tips for building prefabricated home:
1. Securing your financing – When you decide to build a prefabricated home, you can choose to self-finance or you can obtain a traditional loan. Self financing can be done if you have enough cash-on-hand or if you have enough equity in another property to acquire a second mortgage.
If you need to secure a traditional loan, your first step is to approach your banking institution or mortgage broker to go through the process and approval. They will advise you of how much you qualify for and help you establish your budget for your prefabricated build so you can navigate pricing and models that fit your finances.
2. Purchasing your land – If you don't already have a parcel of land to build your prefabricated home one, you will need to find something that suits your needs. An experienced real estate agent can be worth every penny in this process as they can help you not only with purchasing the land, but also advise you of zoning, by-laws, if the land you're looking at is zoned for residential use and can be built on and more. Keep in mind that if the land is not already connected to municipal services that costs to bring the hook-ups can add up quickly. Ensure you know what you're building on: clay, bedrock etc. and consider testing soil before making the purchase.
3. Research and Choose a prefabricated manufacturer – We can not stress the importance of research enough. There are more low quality builders out there than you can count. Find a builder that is open to factory visits, has numerous successful builds under their belt, focuses on quality work and doesn't ask for all of the money in advance. If you're working with a traditional bank loan, they will often have someone who works for them involved in the process and monitoring progress before releasing payments to the builder.
4. Select your home style and floorplan – The beautiful part of working with a prefabricated home builder is that your choices are pretty much limitless (within reason). Start with a style of home or floorplan that you like and that suits your family's lifestyle. Do not settle into the floorplan that is presented if it does not suit your needs. You're the one that needs to live in it.
For more information on prefabricated home building, contact us here.
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