There's no denying it, we're in a serious economic crisis. Financial organizations are collapsing under the weight of bad debt that they have taken on and consumers are experiencing uncertainty and a lack of confidence in the market. As a result, lending companies are lending less money and the average person is watching their expenses very, very closely.

In spite of the crisis, life goes on. People still need to buy homes to live in. And to do that, they need to get a mortgage. Rather than buy a brand-new stick-built home, a preferred solution for consumers (and the institutions that lend them money) might be to custom-build a modular home.

At first, those unfamiliar with the concept might wonder two questions: “aren't modular homes just like mobile homes?” and, “isn't custom building usually expensive?”

Custom modular homes are not mobile homes. They look just like regular homes. The difference is that they are built in units in a factory-like setting by professionals and those units are shipped to the site and put together within just a few days. This method is actually cheaper to build in general AND it allows for customization, because prospective homeowners can select different units and put together the floor plan they want… at a price that is lower than a conventionally built home.

Custom built homes at a price that is lower than a conventional home is attractive to anyone thinking about having a home built. But modular homes are attractive for other reasons, too:

Because modular homes are faster to build than stick built homes (taking weeks instead of months to built and erect), there is less money required in a building loan and it gets paid back faster.

And once built, modular homes cost less to live in because they are more efficient to run and they come with a 10 year warranty.

Lastly, consumers need to spend wisely on a solution but they also need to consider the future… How will they leave the earth for their children? Custom modular homes are more environmentally friendly because they are faster to build and there is less wasted building material. All you need to do is turn on the TV or listen to the radio and you'll hear one company or another advertise its products or services and include in the list of benefits that it's good for the environment. You never heard this as a selling point before but the environment is increasingly become an area of importance for consumers. More and more buyers are making purchasing decisions based on the potential positive or negative impact in the marketplace.

Modular homes address this trend by offering eco-friendly homes that have a low impact on the environment in several ways.

• Air pollution is minimized through the reduced requirement of heavy machinery to operate over a long period of time at a building site.

• Noise pollution is minimized for the same reason.

• Building materials are not wasted because modular homes are constructed in units in a factory-like setting and then shipped to the site for rapid construction.

And that's just during the building process! Afterward, custom modular homes run more efficiently because their insulation is often better (having not been exposed to the elements before installation) and the air exchange is less than site-built homes.

The benefits are clear: In today's tight economic times, custom modular homes are the right answer for consumers who want to spend less now and in the future, who want to enjoy the home they live in, and who want to still make purchasing decisions that are good for the environment.