One of the main factors driving the popularity of modular homes in the real estate market is their cost-effectiveness. With these homes, you can have a stylish and contemporary living space for 15% less than the cost of traditional stick-built homes.
The final costs levied for a modular home rely on location, customization, contractor, and the upgrades integrated with its design.
How much does a modular home cost?
It is plausible for homeowners to ask around. Knowing the price of your desired home is essential as it will help you arrange the finances.
Many different sources will give you varying answers.
Some companies will quote the price starting from $35 per square foot. The buyers should understand that it is a base price.
You should know several terms when looking for a modular home:
This price covers the material costs, labor fees, and delivery charges levied during the transportation of the house.
These charges include the foundation, land preparation, legal permits, and utility installations. It also covers the costs for upgrades and designs integrated into the home.
Does a modular home price include its foundation?
After you have understood the two terminologies, it may occur to you that you leave out the finishing costs and work on the final aspects yourself.
However, it is critical to understand that these costs are not optional.
The experts who arrive on the site for assembling all parts cannot make it happen without a sturdy foundation to hold the structure. Nor can they proceed with the assembly in the absence of the permits.
Hence, the finishing costs are indispensable and included in the final price of a modular home.
90% of the modular home is constructed beyond the site. A manufacturer will then deliver the components to the site.
But 10% of the work happens at the site. Contractors send experts to work on the chosen land, connect the final parts onto the foundation, and infuse the utilities.
The work that happens on the site includes:
The land price could vary because of excavation and grading charges changes.
The foundation price depends on many factors. These include the land price, the base price quoted by manufacturers, and the size of the home.
The foundation of a modular home should cover the space between land and the subfloor. This gap accommodates utility connections, such as electric, heating, and plumbing.
You don’t have the choice to position the structure on a concrete slab. Instead, you have to opt for either of these foundation types:
- Pier and beam: This is a cost-effective option that gets up and running in one day
- Underground foundation: It is required if you have a basement in the house plan. It increases the value as the space within the home increases.
- Crawl space: It resembles the pier and beam foundation style. Plus, you get more space beneath the house.
- Pilings and stilts: This isn’t a preferable foundation because it heightens the house. It works well if you live in a hurricane-prone setting.
What is the foundation of the modular structure?
Constructing the foundation for a modular home raises its overall price. When you want to know the cost of the foundation, you should look online.
Ask if a modular home price includes its foundation and the base price quotes by most factories.
Beware that some companies will cut the base price of a prefab home by portraying things differently. For instance, they might list the unfinished attic as a component of a complete square foot.
It is possible to make this a usable space, but they exclude the cost from the initial price quoted.
When exploring the price range of a modular home, you should try finding the most affordable price belt in your vicinity.
Typically, the foundation will cost between $3000 to $12000. The price relies on state taxes and the location chosen.
The cost of the foundation is either $4 or $7. It depends on the foundation type. This means that the price for crawl space will be different from the price of piers and beams.
Difference between foundation cost and land costs
So far, we have understood that the base price and finishing price combine to provide the total value of a modular home.
Even though it depends on the area, purchasing land is the most expensive stage when buying a house.
Whether you opt for a stick-built home or a modular structure, you have to pay the price for the land.
Land prices vary among the cities and states. For example, the land charges in Orlando are higher than the land in Central Florida.
Although it is pretty straightforward, one should acknowledge that the price of land is only for the bare ground. The foundation price is included in the overall structure price you plan to construct there.
What is the lasting period of a modular home?
When trying to find if the modular home will last you for a long time, you should know that a well-structured modular home resembles the conventional structure.
This means it can last for 30 or even more years if maintained well.
What is the best foundation for a modular home?
The foundation of the pier and beams is the most robust and modern foundation that provides a firm hold to the structure.
Does a modular home reduce in value over time?
No, the modular home doesn’t depreciate its value. Instead, it is faster to construct and increases the value as time passes.
A prefabricated home is the product of modern real estate that has become the talk of the town.
Its cost-effectiveness coupled with a sleek touch makes it instantly appealing for people looking for a lifestyle upgrade.
There are several styles of modular homes that you can find in the market. From foundation to interior and the overall elevation, the variety of modular homes keeps increasing with time.
So, the base price of a modular home doesn’t include its foundation cost, but overall process costs are lesser than the stick-built homes.