Most young professionals aren’t thinking about home ownership due to rising student loan debt and skyrocketing real estate prices. But at Contrarian Thinking, I am always looking for unconventional ways to achieve cashflow. So, I did some digging to find an answer to the question: What if you could buy a home for a third of the price of a traditional house, with rental options that have the potential to outpace your mortgage?
Your soon-to-be home would be purchased the same way you would buy a hot tub or a coffee – custom made for you in-shop and ready to go. If it sounds like I’m describing a modern manufactured home, that’s because it is one, complete with all the perks of owning a real home and more.
Modular homes are More robust than Traditional (Adhere-Constructed) Homes The modular home unit utilizes the strongest of all development solutions depending on the 2×6 platform framing method. Customarily, modular home models are about-built providing rigidity during transport to the positioning. Supplemental structural features are incorporated to improve the modules as They’re lifted by a crane in the carriers and put on the foundation. Only modular development is sturdy adequate to resist such forces similar to that of the healthier earthquake.
The Future Is Modular
Despite the fact that factory-built homes appear strange to us today, it is expected that in the next few years, pre-planned modular communities will become one of the most common building methods. The question we should be asking is not “Who built your house?” but “What factory did it come from?”
Hunting Around for Opportunities
Searching for modular home developments on Google isn’t revealing much right now. The market is just starting to gain traction as developers and buyers take advantage of the scale.
You might want to consider finding a developer creating a planned community of modulars, as this will allow you to utilize a conventional loan. As long as you make a down payment to reserve, you won’t need to pay until the house is fully built and the developers provide you with financing options. Local real estate agents will be able to identify modular housing opportunities, which are becoming more and more common.
The increased profit margin can also be yours if you build your own modular home. It is likely that you will have to use a building loan (which usually carries a higher interest rate) or possibly take out a second mortgage, as conventional loans are not available.
Globally, over the past few years, demand for houses has increased dramatically as a result of the continued
growth of the global housing market. A related development is that the housing shortage remains one of the biggest challenges facing countries around the world. According to a recent report by United Nations Human Settlements Programme (UN-Habitat), an estimated 1.6 billion people live in inadequate housing. According to experts, in the United Kingdom the “chronic housing shortage,” which is the country’s biggest challenge, requires 300,000 new homes to match the demand every year, is not substantially different from what is happening in the rest of the world. There have been several initiatives over the years that have attempted to tackle this issue, but none have failed to adequately address it. However, Lanre Mullins Abudu and his team seem to have found the formula to tackle the housing deficit in the UK with the creation of Magnum Opus.
For more information about Magnum Opus and the unique solutions offered, visit – www.magnum-opus-homes.com.