In recent years Prefabricated houses became an increasingly visible alternative within the real estate market. Its appeal lies in that Construction speedThe Cost predictability and the possibility to move them, at least theoretically, from one terrain to another.
Its growth in the Argentine market is due to a combination of factors including: technological advances in modular designnew housing needs and more recently the ability to access bank financing exclusively for this type of projects.
In addition, the costs are usually included Budgets between $1,300 and $1,800 per square footdepending on the endings.
A prefab home is a modular home. In other words, it is a property built almost entirely within a factory. The difference is that in Argentina the term “prefabricated house” is usually associated with poor quality, which is why today they are trying to approach the concept of modular, to announce that the houses being built today within an industry using this technology are of very good quality – better than those built before – and with several notable advantages.
Unlike traditional buildings Your process is faster, more efficient and more sustainablewith less waste generation and more predictable costs. Each module arrives at its destination after the floor, walls, ceiling, windows and doors have been fabricated and installed.
Modular homes are homes that are mass-produced. Just like it is done in the automotive industry. In other words, instead of going out on the property and building the house little by little, almost everything is built in a factory, with different processes ranging from the creation and assembly of the structure to the final completion. Once you’re done, It is transported in parts in trucks with carts to the land where it is to be installed.
Although there is a wide variety of options, models and prices in the universe of modular homes, Many of its benefits are shared: They offer a more controlled quality as they are manufactured in the factory and allow a precision of 2 mm; They have faster execution speed (in some cases they are built in two months), they use a more sustainable process with a lower environmental impact and can be made from materials that are almost entirely recyclable.
This is possible because at work in a factory with materials nearbyIt avoids bad weather (e.g. rain) affecting the construction process or the need to visit the construction site if it is far away and resolve possible conflicts remotely. “If they deliver it in four months instead of 24, there is a very big difference in value because of inflation,” says Lucas Salvatore, president of Idero. An important fact about these modular homes is that they are transportable..
The The value of prefabricated properties ranges from $31,000 -for a 30 m² house- and the $76,600 -for a 78 m² house- in the case of Idero.
At the moment There are two options for bank financing for the purchase of modular houses:
The mortgage bank line, Unlike a mortgage loan, this is the case personal characterTherefore, no mortgage is required to access the property.
He Personal loan at UVA from the company covers up to 100% the value of the property, so no advance payment is required (as is the case with mortgage loans), with a maximum amount of 50,000 UVAs and with a TNA (Annual Nominal Rate) of 15%.
The term is 72 months (6 years) and the applicant’s fee-to-income ratio must be 25% and the application is made online. The bank states that the income of the spouse or partner can be added. In addition, it offers tax advantages when used for single, family and permanent housing, since in these cases VAT is not charged on interest.
The following steps are required for the acceptance and delivery of the loan:
“Within a period not exceeding one week, the approval will be responded to and the first payment – 40% of the total property – will be transferred to the customer’s account, which will automatically go to the construction company,” the company explained. Once the house is found and completed, the company notifies the bank and at that moment the remaining payout – 60% – is made.
An important fact to keep in mind is that the customer Do not start paying the first installment until 30 days after receiving the second payout, that is, once the house is finished.
Another case is that of Banco Ciudadalso with a UVA personal loan, which Lends up to $130 million for purchasing a modular house. The maximum term is 120 months (10 years).
The relationship The entry fee is up to 20% the net income of the applicant or guarantor. Financing is up to 75% of the working budget with proforma invoice, company budget and property value (incl. VAT) shown in the purchase receipt or title transfer deed.
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