A couple of times, we've mentioned how modular homes are cheaper than stick-built homes, but we haven't said by how much or what the exact cost is. (Sssh, don't tell, but it's because we didn't know.) Of course, it's going to vary, depending on what you want and which manufacturer you go with, but you probably just want some general information. So, after doing a bit of research, here's what I found:
- "Modular homes usually cost less per square foot — 5% to 25% less, one manufacturer estimates — than site-built homes, thanks to shorter, more organized and more predictable construction schedules." -- from an article called Modular Homes Gain Acceptance
- "Cost Savings (for modular homes)– Building time is reduced by building the home and doing the site preparation at the same time. This reduction in time lowers your interest payments on a construction loan." -- from the Ritz-Craft Corporations FAQ: Modular Housing Comparison to Stick Built Homes
- "Although modulars are often a solid bargain, you should not expect an unrealistic discount to other types of building. When you purchase your new modular home you are choosing unmatchable quality and speedy completion. If a modest savings accompanies those features you win in every way. As in any business you will find as many pricing policies as you will builder/dealers. Be alert. Sometimes there are genuinely good buys, but watch out if it sounds too good to be true." from the Modular Home Pricing FAQ
So, all in all, it looks like the cost for modular homes will run you less than the cost for regular homes, but it won't be a huge savings. The big savings is in the time it takes to complete.
Just as a reminder, here, we're talking about modular homes and not manufactured homes (like the single- or double-wide trailer). Modular homes can be customized and, when finished, don't look any different from regular stick-built homes.
Comments