Modular Vacation Homes
Modular vacation homes are priced between 35 and 50 percent under the costs of a typical vacation home. This is because modular homes cost much less to manufacture. The construction of modular homes is completed in a factory setting so there are no weather delays, and construction can be done quickly ensuring that material and labor costs won’t go up.
Modular vacation homes are also a good option to choose because you can customize the energy saving features that your home has. For instance you can request high energy efficient windows, tight air seals throughout the building, solar panels for power generation, extra insulation in the walls and ceilings, and Energy Star appliances. These upgrades, or options, will improve the energy efficiency of the building and it will save you on your energy bill.
In addition to saving you money during the times when you are using your vacation home, modular vacation homes can also generate income for you when you are not using it. To help pay the mortgage on your vacation home, or to increase your income, you can rent out your vacation home to tourists, friends, and family. You can choose to be either a hands on landlord or a hands off landlord. If you want to be a hands on landlord then you will need to manage the advertising, pricing, cleaning, and the collection of rents. If you don’t want to be this hands on you can hire a property management company that specializes in vacation rentals to manage your property.
If you decide to use your vacation home as a rental then you can save money on you can even save money on your taxes. As a part time rental property you will be able to deduct portions of its utilities, taxes, and upkeep from your federal and state income taxes. To qualify to take deductions on your vacation home you will need to fill out Tax Schedule E. Here you will need to declare how much rental income you took in for the year, and what expenses you can attribute to the care and upkeep of the property. You will also need to complete a depreciation schedule for your property, which will save you even more money on your taxes.
As you can see there are many ways in which modular vacation homes can save you money. First they are less expensive than site built homes. Secondly they offer many energy efficient features to help save you money on your utility bills. Thirdly they allow you to generate a secondary income by renting out the property when you are not using it. And finally, you can save money on your taxes by deducting expenses related to the care and upkeep of the rental property.
|Modular Homes||Manufactured Homes||Prefab and Mobile Homes|