Modular Home Prices, Costs and Benefits
Sep 8, 2023
Are you in the market for a new home? Have you considered a modular home? Modular homes are an increasingly popular choice for homebuyers who want a high-quality, customizable, and affordable home. In this comprehensive guide, we will dive into everything you need to know about modular home prices and what to expect when purchasing a modular home.
Average Modular Home Cost
Before we dive into the specifics of modular home prices, let's first look at the average cost of a modular home. According to HomeAdvisor, the average cost of a modular home is around $180,000 to $360,000. However, keep in mind that the final cost will depend on the size, style, and features of the home you choose.
If you're deciding whether to build versus buy a new home, keep reading to learn more about the costs and process.
Modular Home Prices
Modular home prices can vary greatly depending on a variety of factors. One of the most significant factors that affect the price of a modular home is the size. Smaller modular homes can cost as little as $50,000, while larger, more elaborate homes can cost over $500,000.
Another factor that can influence the price of a modular home is the location. Modular home prices can vary depending on the cost of living and labor costs in the area. Additionally, the cost of permits, inspections, and other fees can also affect the final cost of a modular home.
Modular Home Cost Per Square Foot
Modular home prices are often calculated per square foot. The average cost per square foot for a modular home is around $100 to $200. However, keep in mind that the final cost per square foot will depend on the style and features of the home you choose.
All things considered, the price per foot is generally lower that constructing a "stick-built" home or building your own home from scratch.
Average Cost To Build A Modular Home
The average cost to build a modular home can vary depending on a variety of factors. According to a recent builder survey, the average cost to build a modular home is around $90,000 to $300,000. However, keep in mind that the final cost will depend on the size, style, and features of the home you choose.
Cost To Deliver A Modular Home
Another cost to consider when purchasing a modular home is the cost of delivery. The cost to deliver a modular home can vary depending on the distance between the factory and the site where the home will be installed. On average, the cost to deliver a modular home is around $5,000 to $15,000.
Modular vs. Manufactured Homes Cost
When comparing modular homes to manufactured homes, modular homes tend to be more expensive. Manufactured homes are typically less expensive because they are built on a steel frame with wheels, which makes them easier to transport. However, modular homes are often more durable and customizable than manufactured homes, which can justify the higher cost.
Pros and Cons of Modular Homes
Now that we've covered the basics of modular home prices, let's take a look at the pros and cons of modular homes.
- Customizable: Modular homes can be fully customized to fit your needs and preferences. You can choose from a wide variety of floor plans, styles, and features to create the home of your dreams.
- High-quality: Modular homes are built in a factory setting, which means that they are constructed with precision and high-quality materials. This can result in a home that is more durable and energy-efficient than a traditionally built home.
- Fast construction: Because modular homes are built in a factory setting, they can be constructed much faster than traditionally built homes. This can save you time and money in the long run.
- Limited location options: Modular homes are typically built in a factory and then transported to the site where they will be installed. This means that your options for location may be limited.
- Difficult financing: Because modular homes are often considered a non-traditional form of housing
History of Modular Homes
Modular homes have been around for over a century, but their popularity has grown significantly in recent years. The concept of modular homes began in the early 1900s when companies like Sears, Roebuck, and Company offered mail-order homes that could be assembled on-site. These homes were built in sections and shipped by train to the site where they would be assembled.
The popularity of modular homes grew during World War II when the government used prefabricated homes to house soldiers and their families. After the war, the demand for affordable housing continued, and modular homes became a popular choice for families looking for a high-quality home at an affordable price.
Today, modular homes are still a popular choice for homebuyers who want a customizable, energy-efficient, and affordable home.
Modular Home Startups
In recent years, startups and proptech companies have been disrupting the traditional homebuilding industry by offering modular homes that are affordable, customizable, and energy-efficient. These companies are using innovative technology and design to create homes that are not only functional but also stylish and modern.
One such company is Plant Prefab, based in California, which offers a variety of customizable modular homes that are built in a factory and then shipped to the site where they will be installed. Another company, Connect Homes, based in Los Angeles, offers modular homes that are fully customizable and can be designed to fit a variety of lifestyles and budgets.
Another proptech company making waves in the modular home industry is Boxabl, based in Las Vegas. Boxabl offers a variety of modular homes that are designed to be affordable and easy to assemble. Their homes are built in a factory and then shipped in a compact box that can be assembled on-site in just a few hours.
Overall, these startups and proptech companies are changing the way we think about homebuilding and offering a new, more affordable, and sustainable option for homebuyers looking for a high-quality home.
Modular Home Manufacturers
There are many modular home manufacturers to choose from when you're in the market for a modular home. Some of the most popular modular home manufacturers include:
- Clayton Homes: Clayton Homes is one of the largest manufacturers of modular homes in the United States. They offer a wide variety of customizable homes at an affordable price.
- Champion Homes: Champion Homes is another popular manufacturer of modular homes. They offer a variety of floor plans and styles to choose from and are known for their high-quality materials and energy-efficient features.
- Palm Harbor Homes: Palm Harbor Homes is a Texas-based manufacturer of modular homes. They offer a wide variety of customizable homes that are known for their durability and energy efficiency.
- Ritz-Craft: Ritz-Craft is a modular home manufacturer that offers custom-built homes. They offer a wide variety of floor plans and styles to choose from and are known for their high-quality materials and attention to detail.
- Westchester Modular Homes: Westchester Modular Homes is a New York-based manufacturer of modular homes. They offer a variety of customizable homes and are known for their energy-efficient features and high-quality materials.