When you buy a shipping container home, it is the same process as buying a conventional house assuming it is already converted. As with a traditional house, you will buy either the freehold or the leasehold of the land and should be able to get a mortgage to be able to purchase it in the same way as you would with any other home.
Converting a shipping container into a home is becoming an increasingly popular housing option, especially for younger people. With the housing market as tough as it is at the moment, buying bricks and mortar homes isn’t a viable option for many people (especially first-time buyers) and so they are looking for alternatives.
A shipping container home can be just as functional, cosy, liveable in as a regular house – all with a relatively low amount of upkeep. And at a fraction of the price, it is certainly a suitable option for many people.
There is a range of different sizes of Intermodal’s – from the smallest at 10ft, to the largest at 40ft high cube. However, one of the benefits is that they are all a standard cuboid and can be stacked together to make a larger construction if you wish.
A Shipping Container Home
They can look and feel just like any other home and can be fitted with washing machines, dishwashers, and conventional toilets and bathrooms – so much so that you wouldn’t even notice that your walls are made from steel rather than bricks.
One of the biggest obstacles for people buying their own property is cost. While it might cost you a little to buy a shipping container and fit it out with all of the accessories needed to make it a properly functioning home (plumbing, electricity and insulation, for example), it still tends to cost far less than buying a traditional home.
There are also homes that have already been built, customised and lived in that can be bought from previous owners, just like any other home.
Whether you decide to buy a pre-built unit home or you want to construct one yourself, the good news is that there is also financial support out there for those who are unable to pay the full cost outright.
Mortgages for a Shipping Container Home
We recommend that you shop around to find the best deal for you. Many people find that they can get the best deals from smaller financial institutions rather than the big banks and building societies.
If you are buying land where you are hoping to construct your new home, you should also check with your local authority about planning permission. Depending on your circumstances, you might need planning permission to build.
Buying a shipping unit home is an excellent and viable option for those who are looking for an expensive way to get on the housing market. Although the criteria for getting a mortgage might be no different, the amount of money that you need to borrow certainly is, making container homes much more accessible than you might think.
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