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Considered non-traditional home construction?

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non traditional home being built

5 March 2021: When it comes to getting into the housing market or making that next family home purchase, affordability is a concern for many households. Increasing real estate prices for established homes has some considering potential benefits to building their own home (either through a licensed builder or as owner builder). And if you are considering this, there has never been more options in terms of the type of homes you can build and the materials used.

There are three types of non-traditional homes and dwellings:

Pre-fabricated or modular homes 

These are generally designed in modules in an off-site factory and then transported and installed on site. While designs can be modified, there are some restrictions because they need to be transported using a track to site.

Kit homes

Kit homes arrive on site in pieces – pre-cut to specified sizes and are then constructed on site. With kit homes, you do have the opportunity to become an owner builder and construct the home yourself or you can hire a builder to do it for you.

Manufactured/mobile homes

These are relocatable homes. They are generally pre-fabricated on a steel frame in a factory and are transportable using their own wheels.

If you are of the mindset that these types of homes cannot be customised or tailored to suit your needs, think again. These days there are options on the market that are highly customisable. You will need to do your research, including familiarising yourself with the materials used, warranties that apply, checking out client testimonials on socials etc. You might even like to contact an independent builder who has constructed a home using the supplier you’re considering to get some feedback on the quality of material and dealings.

SERVICE ONE has been providing finance for these types of builds for years. So we thought we’d speak to one of our lenders who specialises in this type of finance. Shauna from our Batemans Bay & District Advice Hub shares some thoughts on this type of finance.

"As more people consider these types of homes, it’s important to note the finance process is different to more traditional builds. Generally, funding is released in stages starting from the mortgage or financing of land, and then further finance is attained at the various stages of material delivery," Shauna explains.

"This pre-manufactured type of construction will not be for everyone but I’ve had some borrowers over the moon with their decision to go with a non-traditional build, the quality of the end result and the money they’ve saved than if they had pursued a more traditional build."

Find out more about the finance process for kit homes or other pre-manufactured homes.


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