If you’ve always dreamed of owning a house in the mountains or retiring to a remote location, a modular home is a great option since you don’t need construction equipment on site. Known for their energy-efficient designs, smaller footprints and traditional and modern floor plans, modular homes are becoming a popular alternative to site-built homes while still offering the same financial benefits.
Top 10 Modular Homes
- Used Book in Good Condition
- Andrew Gianino
- Inside Combined Floor Area: 292 Sqf + the sleeping Loft (not part of the 292 Sqf)
- Wall thickness: 1-3/4" (44 mm) - dual T&G windblock pattern
- Inside Floor Area: 1336 Sqf (657 Sqf downstairs + 679 Sqf upstairs)
- Wall thickness: 2-3/4" (70 mm) - dual T&G pattern
- Taunton Press
- Sheri Koones
- Measure: 21*18*8 ft
- With clear instructions help you assemble it quickly
- Harry N Abrams
- Sheri Koones
- It can use widely in varieties of situation that makes your life more comfortable
- Each part of the container house has multiple firm meterial. You can choice what you want.
- Prime Video
- Used Book in Good Condition
- Andrew Gianino
- 1>Before you order this product, please inform us which city you are located in so that we can check the...
- 2>The house size is L*W*H: 12.67*3.62*2.9m. The area is 32 square meters. The roof panel is made of color...
Cost of modular homes
How much do modular homes cost?
Modular home prices range from under $100,000 to $1 million. Like site-built homes, the price of a modular home is dependent on a variety of factors, which makes it difficult to estimate your total cost until you’ve spoken with a contractor and figured out all the details of your home.
Some things that influence the price of a modular home include:
- Land: The price of land is separate from the price of your home when you build a modular home. Make sure to take the land price into account when you’re trying to estimate your overall cost.
- Where you live: Modular home manufacturers have to follow state and local codes when they build, which means the total price of your home will depend on where the home is going to be delivered.
- How big your home is: The cost per square foot for a modular home can range from $40 to $200, depending on what materials are used. For instance, if you want high-end countertops and exotic hardwood floors, expect to pay on the high end per square foot. In general, modular homes end up costing $90-$150 per square foot.
- Your floor plan: Modular home manufacturers work with a variety of floor plans that all come at different costs. Work with your manufacturer to find a floor plan that works for your lifestyle and stays within your budget.
- Site prep: Your site will need to be prepped before the home can be delivered. This includes marking property lines; leveling the land; clearing the land by removing any trees that are in the way; removing dead trees, tree stumps, and large rocks; pouring concrete, and preparing a site for your modules to be unloaded when they’re delivered. Some manufacturers roll the cost into your total home price, while others will have you find your own contractors.
- Add ons: Adding plumbing lines, natural gas, a septic system and any exterior electrical will add to your overall cost. You’ll likely have to find your own contractor for these additional projects.
Cost of modular homes vs. building
Are modular homes cheaper than buying a house? In most cases, yes. Buying an existing site-built home might compare at price to building a new modular home, depending on where the home is. Building a new site-built home, though, will likely end up costing more than building a new modular home.
The cost savings for building a modular instead of site-built home comes from two main areas:
- Materials: On-site builders have to custom order materials for one house at a time, and they usually order more than they will end up using in case some of their materials are destroyed or otherwise unusable. They often need to cut the lumber they get to specific measurements and end up discarding what they don’t use.
- Labor: Labor costs inside the factories where modular homes are manufactured are lower than labor costs for site-built homes. While there might be more people working on your modular home than if you were building it on site, every person has a specialty, which means the whole process is much more efficient than site building a home.
Modular home financing
Most banks and mortgage companies offer to finance for modular homes. Mortgage lenders treat modular homes the same as they would with traditional, site-built construction.
Here are the steps involved in getting modular home loans:
- Get prequalified: Start the process by getting prequalified for a loan. It’s a good idea to compare rates from at least three different banks. Once you’ve decided on a bank or mortgage company, they’ll let you know what documents you need to gather and submit, including a blueprint of the home for appraisal.
- Get approved: Once you’ve been approved, you’ll get a letter of commitment which you’ll need to show the manufacturer before they’ll sign the final contract. When that’s complete, you’ll have a construction loan and can get started.
- Establish disbursement schedule: Once you’re approved, you’ll establish a disbursement schedule to determine when payments will be made and how much will go to each vendor.
- Make payments during construction: As your home is being built, you’ll be making interest payments every month. These payments cover each milestone like building the foundation, delivery of the modules to the site and finishing the exterior and interior of the home. You can’t make payments against the principal until construction is complete.
- Begin permanent mortgage payments: Your construction loan turns into permanent financing once construction is complete and the bank has an appraisal. Now you’ll start making payments against interest and principal. As soon as you close on your construction loan, the time it took to build your home counts toward your mortgage.
Pros and cons of modular homes
Enables you to build in remote locations
One of the top advantages of modular homes is making your dream of building on a secluded piece of land a reality. If you dream of owning a secluded lake home away from everyone, a modular home can be an excellent option since the logistics required for a traditional stick-built home make a lot of remote locations too difficult for construction.
Reduced build time
Modular homes are built in about one-third the time it takes to build a brick and mortar home. Since the modules of your home are prefabricated in a factory and delivered to the building site to be put together, you won’t have to deal with things like weather delays and subcontractors not showing up to the job site.
Since they’re built in a factory, builders have easier access to seams so they can caulk and seal them. For example, builders can seal areas around fixtures and outlets because they can get behind, above and beneath all areas of the module that’s being built.