The housing market is still in a slump. But, if you are one of the fortunate ones who can build your dream home, or are considering down the road after an economic recovery, it is worth considering a modular home.While there are many benefits to going modular for your new home, the idea still hasn’t caught on in a major way with the general public. This is due in large part to misconceptions of what a modular home is.Confusion and MythsMany people are confused, mixing the term “modular” and “manufactured” or mobile homes. This leads to the belief that the resulting structure is not like normal homes and is somehow less sturdy. This couldn’t be further from the truth. This has led to town rules and regulations that add more fear for new home builders, which steers them into the traditional home-building route.A modular home is built in a factory, usually with an assembly line. After the modules are built, they are transported to the building site as separate units. The materials are the same as your standard-built home, they just come together differently.There is also a misconception that you are stuck in rigid preordained designs. This is untrue, which we will go into a little more detail below.Now that the air is cleared, let’s look at some of the benefits of going modular with your home – or even commercial – building project.Design FlexibilityAssuming that you follow your state’s building codes, you can modify or upgrade your modular home plans as you see fit. Depending on your budget constrictions, you can come up with your own floor plan, roof elevations, window styles, flooring, roofing materials, etc.”There is nothing you cannot do with a modular home,” says Chad Harvey, Assistant Director of Government Affairs with the Modular Building Systems Association.While you can custom design your home in a traditional building scenario, the cost effectiveness of modular building opens up some of your budget for customizations.Cost EffectiveSince modular homes are built in a factory, the controlled environment makes the process more efficient, which will save the future homeowner money. Some estimates have modular homes at as much as 25 percent less than the cost of a standard-built home.Fast ConstructionSince modular homes are built in a controlled environment, there are no weather delays. Work can also be done at the construction site at the same time the home is being assembled, which saves time. Theoretically, you could be in your new home within weeks of finalizing a plan.They are SturdierSome may debate this idea, but many tout modular homes as sturdier than normal construction, which is ironic, considering the typical misconceptions of what modular homes really are. What accounts for this belief is that more materials are used in assembling the modules since they have to be able to withstand the transporting process from the factory to the construction site.