With housing affordability still sky high, many properties in the main centres like Auckland out of reach for young couples and families. The Housing Affordability Measure shows the percentage of people who would have below average incomes after housing costs is increasing nationally. In Auckland, the situation is worse than nationally. As a result, alternative ideas like transportable homes as an option for first home buyers are becoming more popular.
Some people build their own tiny homes and save, but a more achievable option for many is to rent or buy a pre-built unit which is then transported to their chosen site. Transportable homes are particularly good for young couples as their small footprint is easy to heat, light and clean.
Things to consider when thinking about choosing a transportable unit for your first home
How will you finance it?
Although transportable units are more affordable than houses you will still need to finance it. Some banks may not offer traditional home loans for prefabricated buildings so you will need to look at other options. You may need someone to act as a guarantee for your loan. This is changing as transportable and pre-fab home become more popular.
You’ll also need to look at other expenses including insurance, utility bills and furniture.
If you cannot afford to buy a unit outright, Unit2Go offers rental options through our sister company Unit2Rent and our low deposit finance options that allow you to own the unit after a number of years.
Whether you need consent?
Depending on where you plan to place your unit you may need to obtain council consent.
What size will you need?
Unit2Go units come in a variety of sizes from studios to three and four-bedroom units. Think carefully about what size you need. You don’t want to be cramped but neither do you want to pay for wasted space.
Where will you put it?
Transportable units need suitable land to be placed on with reasonable access. Make sure you have somewhere to put your unit before you buy.
Three places you could put your first transportable home
On your parents or relative’s land
If you have a friendly set of parents or another friend or family member with a large enough section you may be able to place the unit there. The benefit of this is that the land may be free or very low cost – great for people considering transportable homes as an option for first home buyers due to budget constraints. However, living so close to your relatives may not be what you planned.
On leased land
Depending on where you live, you may find a farmer, lifestyle block owner or section owner looking to subdivide who will rent you some land. This may be at a reasonable cost however you may not be able to easily access amenities like water and power.
On your own section
If you have bought a section but cannot afford to build a house yet, then sitting a transportable unit on it could be the answer. This allows you to live on-site and when you are ready to build you could even keep the unit on part of the section. You could then use it as a garden home office, a she-shed or sleep out or even rent it out on Air BnB.
Unit2Go offer a range of transportable homes as an option for first home buyers
Unit2Go has a range of transportable homes as an option for first home buyers – from studio units to three and four-bedroom units.
Units can be bought outright or rented. Our low deposit finance options to purchase a cabin would particularly suit young couples who would like to be working towards property ownership instead of renting long-term but may not earn enough to secure a mortgage.
To discuss your options for financing and unit sizes, give us a call today.
