Modular homes and real estate purchases in general have become one of the most popular ways to invest your hard earned dollars – and for good reason. Your home’s equity is a lasting investment.
Tax returns are right around the corner! Your tax refund can be spent on anything you’d like. However, these days, many are using their tax returns for investment opportunities rather than big purchases or savings.
Buying real estate is an investment that can easily appreciate in value and build your equity. Especially if it’s a house built with high-quality materials and expert construction.
Pratt Homes, a trusted modular, manufactured, and tiny home builder in Tyler, Texas, has seen first hand how the popularity of buying a modular home or other real estate has grown due to families wanting a long and secure investment.
HOW DO MOST PEOPLE SPEND THEIR TAX REFUND?
According to a 2021 NRF survey, most Americans spent their tax return refund on the following 5 things:
- Savings
- Pay Down Debt
- Everyday Expenses
- Home Improvement
- Vacation
Saving money is an investment. There are many ways to invest your money, from regularly saving to making purchases that build equity and value. Investments help to offer future financial protection. Consider using your 2022 Tax Refund as a way to make your down payment on a new home, knowing you are investing in your future.
Here are 6 reasons people are choosing to invest in a modular home:
1. Efficient Modular Home Building Process
One reason modular homes are becoming a more popular real estate investment choice compared to a traditional home is the efficient modular home building process.
Modular homes, sometimes called “Prefab Homes” short for prefabricated, are built in a controlled environment, off-site, away from where the home will eventually be. The modular home building process’s controlled environment allows for lower construction costs and a much quicker turnaround.
Rather than waiting up to a year or more for construction to finish for an on site built home, the wait for your new modular home to be delivered and set up will be a fraction of the traditional home building timeline.
2. Low Cost Compared to a Traditional Home
The efficient building process is also financially beneficial. The controlled environment ensures all materials will stay free of any weather damage or outside elements. This means you won’t need to buy additional supplies due to unexpected damaged materials.
General building maintenance is also typically much easier and, therefore, more affordable than a traditional house would need. Because modular homes are built following strict guidelines and schematics, the structural elements of the home are uniform, predictable, and easy to access for repair.
3. Higher Quality Building Materials
Higher quality building materials are available for many options when designing the interior finishes of a home.
The efficient and climate-controlled building process of modular homes allows for higher-quality materials by using the precise amount of supplies and having minimal construction waste.
When building a stick-built home on-site, the unpredictable weather and outside elements can delay the building process and damage materials.
However, the predictability of the unique building environment for modular homes means no funds are wasted from delayed building or replacing damaged supplies.
When you only need to buy the exact amount of materials your house requires and there are no additional costs to cover unpredictable damages, more money can be allocated to the quality of the materials.
4. Customizable House Design
It’s a myth that all modular homes look the same. Prefabricated doesn’t mean you have no say in how the home looks. Pratt Homes specializes in working with customers to customize their homes.
From the home’s layout to appliances to details like countertop materials and cabinet paint, customize any of these variables to suit your preferences. Front and back decks, garages, and carports can make a wonderful additional amenity to any home.
The customizable choices are almost endless! For whatever budget or style you need, a reputable modular home builder will be able to create the home of your dreams.
5. Modular Homes are in High Demand
Modular homes’ affordability, customizability, and unique protected building environment have made them quite the popular home choice over the past 30 years. Modular homes have come a long way with beautiful customizations, layouts, and amenities.
As real estate prices continue to rise and people are finding it more difficult to afford expensive, onsite built homes- it’s easy to see why the demand and value in modular homes have skyrocketed.
6. Utilize and Build Equity
Modular homes’ affordability, customizability, and unique protected building environment Your new home will provide you with both a beautiful roof over your head and a welcoming place to gather with family and friends. Years of memories will be built. With home ownership, you will also be building the equity in your real estate and property. Your home is an investment and an additional way to create financial security for you and your family. Pratt Modular Homes, built with superior materials, have proven decade over decade to maintain their value and beauty.
It’s never too early or too late to start saving by investing in your future with home ownership. Consider using your 2022 tax refund as an investment into your new home and future.
At Pratt Homes, we’d love to talk to you about using your tax refund to get you into your new home, so you can start building lasting memories and an opportunity to build your financial equity in your new modular, manufactured, or tiny home. We are ready to spend time with you to plan and build your dream home. Contact us today, or feel free to visit us at our Design Center in Tyler, Texas.
