Modular Homes Section
Modular Home Pricing and Estimates
There is not a simple answer to "What is the price of a modular home?" or even "What is a general price estimate for a modular home?" We are sorry that we had to be the ones to tell you the truth. There are many factors that will impact your price estimate. We can help understand what goes into a price estimate and how to better judge if it is a good price or an overpriced home.
Type of Home
Ranch homes will generally have higher cost per square footage but a lower total cost than a two story home. This is because there are fixed costs like your foundation, building site preparation & utility hookup. A two story home saves money by needing a smaller foundation to achieve more square footage thanks to their second story. That second story will also require extra modules which will increase the overall cost. Each extra module your new home needs, will increase your transportation costs by requiring another flat bed transporter and increasing the work on the delivery day.
There are many different service levels provided by modular manufacturers. They range from module delivery which you are personally responsible for preparing the building site, setting the modules when they arrive, finishing it out to earn a certificate of occupancy. This is a great option for a home builder looking to save money by doing alot of DIY work. It is a bad decision for almost everyone else since they will not know the many, many things that they need to do. The next level service is to act as your own general contractor. You will be responsible for finding, hiring and supervising all the subcontractors. This is more manageable option for people who have a lot of free time and are very organized. You will need to be on the building site for at least a few hours everyday to make sure the subcontractors are all working on the right project in the right order and completing on time so the next wave of subcontractors can do their job. I personally do not know many people who have this time or energy. The thirds main service level is turnkey. The modular manufacturer builds the modules and has one of their general contractors take care of everything else. All you need to do and show up and hand over a check. Obviously the more work a home buyer does the less they will have to pay.
Bonus Home Features
There are many bonuses and add-ons you can have to your modular home. Each add-on will impact your price. Make sure that when you compare different manufacturers that the add-ons are the same. Here are some common add-ons.
Flooring - Most homes come with carpeting or unfinished plywood floors. If you to upgrade to oak flooring or even high grade carpet this will add about a thousand dollars of cost per room.
Cabinetry - The quality of cabinetry varies widely. If you insist on high quality solid wood you can expect to add a few thousand more to your costs.
Bays/Bump Outs - But pushing out the wall you can generate more space and add some architectural appeal to your home. You will also generate more costs ranging from $3000 to well over $5000.
Septic/Wells - The excavation work for having a septic system and drinking well will start at about $15,000 and go up depending on your building site.
Garage - Do not assume your home comes with a garage unless it is clearly stated in the estimate. If you decide to add one it will cost you at least $10,000 per car space.
Outdoor Deck - This is another assumption that homeowners make that they should never assume. Make sure the deck is listed in your contract with the exact size specified. Adding a deck will take several more thousand dollars.
Comparing Modular Home Prices
Depending on these factors your modular home price can be under $150,000 or your home can cost more than $500,000. It depends on how much work you want to do, how big a house you want, with how many extra features. You need to be careful with the fine details in the price estimate. Overlooking a two car garage can cost you $20,000 price difference.
The price of new home construction can also vary widely based on factors you cannot control. During a strong economy home builders will be in high demand and labor costs can rise more than 30%. During a poor economy you can see labor costs plummet by as much as 40%. When you are ready to build you should create a detailed list of exactly what you are looking for in your home and then contact three home builders so you can make compare apples to apples.
Even when comparing apples to apples with the home construction price estimates you should be prepared for unexpected issues. When building a new home regardless if it is a modular home with systems built technology or an on-site new stick built home there are always a few surprises. When excavating the foundation you may find an unknown buried boulder that needs to be blasted or there may not be local water and sewer requiring you to add a septic system and drill a well. It is best to reserve at least 5% of your budget for unexpected surprises. I would suggest you reserve much more than 5% to be safe.
Home buyers also enjoyed these modular home articles: