WHAT ARE MODULAR HOMES/SYSTEM BUILT HOMES?
Modular homes from Heritage Custom Builders are constructed in a climate-controlled environment using state of the art engineering and assembly line techniques. Heritage Custom Builders uses the same brand name building materials and builds to the same building code requirements as any local “on-site builder”. State or independent third party inspectors carefully inspect each home we build. Modular homes are shipped to the building site, erected on the foundation by a qualified set crew and completed by Heritage Custom Builders’ staff & subcontractors. Once completed, modular homes are indistinguishable from “on-site built” homes.
How do I finance a modular home?
Mortgage lenders treat modular homes the same as site-built homes and offer the same mortgage options. Modular homes are also treated the same as site-built homes when it comes to appraisals and insurance. In addition, modular homes appreciate in value at the same rate as comparable site built homes in your area. You are welcome to obtain your own financing – Heritage Custom Builders will be happy to work with your financial institution. Also, Heritage Custom Builders can refer you to any number of local lenders that we have worked with in the past.
The purchase of a new home is one of the major milestones in anyone’s life. Not only can it be an event filled with excitement, emotion and anxiety, but also one of the largest investments that you can make. Ritz-Craft Homes has put together a list of steps to ensure your home buying process runs smoothly, so that you can experience the pleasure and satisfaction of being a new home owner.
Step 1: Setting a budget and securing financing.
How much can you afford to spend on your new home? System Built homes are treated the same as all homes built on site when it comes to financing. Your monthly loan payments should be approximately 25 to 33 percent of your monthly gross income. To help you decide how much to spend on your new home, you could consult with your local bank/lender to learn about your financing options and become prequalified (and if you do not already have an established relationship with a lender, we will be happy to refer you to a mortgage specialist). This is best done prior to deciding on your new home floor plan, so you know up-front the size and style of home and ammenities you can afford.
Step 2: Choosing your home.
What style of home are you considering building? Do you have an idea of the size of home that best fits your family’s needs? Are there any special features that are particularly important to you? Start your search by browsing through the many floor plans available on this website. Also, be sure to visit your local Ritz-Craft builder’s model home center. We can help guide you through the numerous floor plans and options offered. From two-stories, ranches and Cape Cod style homes, our home selection is designed to meet the needs of new families needing an entry level home, growing families wanting to move-up and requiring more space, and retirees desiring to scale back to the practicality they deserve. Talk with us to help narrow the choices, and select the home that makes sense for you.
Step 3: Your building site.
One of the best things about purchasing a home is that YOU choose the location. If you already own land, you may decide to build on your existing empty lot. We would be happy to assist you with inspecting your building lot to ensure it meets all applicable requirements – adequate road/driveway access, compliance with all local regulations and setbacks, and suitability for the style of home you are choosing to build.
Step 4: Place order and sign purchase agreement.
Now that you’ve selected your home and secured financing, it’s time to place your order. One of our sales consultants will provide you with a purchase agreement (contract). This agreement is required to begin production on your new home. A deposit is usually required upon signing the agreement.
Step 5: Take delivery of home, and move in!
While your new home is initially being built at a regional Ritz-Craft production facility, we will prep your lot and foundation. Approximately 6-8 weeks after placing the order for your home, it is delivered to your site. We will then place the home on its foundation, and complete all outstanding facets of the process – from completing the heating & plumbing systems, to building the front porch & garage if desired. Within a matter of weeks, your new home will be move-in ready! Congratulations, and welcome home!