Modular homes are becoming a very popular alternative and the answer to affordable housing. A prefabricated home is an answer for those who want a new home but cannot afford a traditional home.
What is the Average Cost of a Modular Home in the U.S.?
The average cost to purchase a new modular home in the US is between $30 and $60 per square foot. This includes installation and setup costs. For example, a home that is 1,000 square feet costs from $80,000 to $160,000. The average cost of a fully complete modular home including land can be from $100 to $200 per square foot.
Factors determining the Price of a Modular Home
The price of a modular home depends on several factors. These determining factors can be how customized the home is and how many bedrooms it has.
Why is a Modular Home Less Expensive than an On-Site Home?
This section has some reasons why a modular home is less costly than a traditional on-site home.
- Modular homes are constructed on an assembly in an indoor factory.
- Weather conditions never affect the building of one of these homes.
- There is no threat of a threat or vandalism during the construction.
- Materials cost less due to manufacturers being able to buy supplies in larger quantities.
- It’s easier to get a mortgage on a manufactured home.
- Less cost for property taxes than an on-site home.
What are the Average Costs of a Modular Home?
Whenever the average cost of a manufactured home is analyzed one can see how the costs are much more affordable. It is easier for a person to achieve ownership of a home when they purchase a modular home.
In addition, you get more space with less money because modular homes are cheaper costing per square foot.
What Determines the average cost of a modular home?
There are a variety of factors that determine the average cost of a modular home. These elements include location, structure, size, and a number of other things.
In comparison to what you will spend if you purchase an on-site built home, the savings are incredible. You can buy a brand new modular home for less than you would spend on an older on-site home.
Price comparison of modular homes in the Winter vs Summer
During the months of January through March, you will find the average price of a modular home is lower. In addition, if you are looking for a brand-new mobile home, do it during these months.
It is always cheaper to purchase a modular home in the winter months. The only negative aspect about buying in the winter, there are fewer options available.
Examples of Average Modular Homes Prices
The average price for a single-wide mobile home is $43,500 – $59,000.
The average price of a double-wide mobile home is $110,400 – $119,400
The average price of a two or more section mobile home is $92,900 – $103,100
Frequently Asked Questions (FAQs)
What’s the difference between a mobile home and a manufactured home?
People once associated living in a mobile home with poverty, claiming they were constructed of 2x2s. Both of these claims are false. There would be a lot less stigma if the truth were to come out about manufactured homes. The primary difference between the two homes is this: a mobile home was constructed before June 15, 1976. Manufactured homes were constructed any time following this date.
What Determines the Cost to Transport a Modular Home?
The amount of money it costs to set up a modular home depends on a couple of things. How complicated it is constructed, and how far they must travel to deliver it.
Modular homes can be constructed in about one to two months in the manufacturer’s factory. After the construction is complete the home can then be delivered to the home buyer. The land is prepared for the modular home by a contractor.
The contractor also does utility hook-ups and connects sections of the home to the foundation. In addition, you can choose from a variety of home styles. These styles include French country, modern, two-story, Cape Cod, Ranch, and duplex.
Keep in mind that the average cost of modular homes can vary from builder to builder. The cost quoted can be dependent on the basis of their services, and if the finish is turn-key. Ensure when you get a quote from a builder you find out what is included in their price.