It should come as no surprise that Prefab or Modular Homes are less expensive than conventional housing. It is for this reason that prefab homes have been able to usher in a new era of revolutionary reform in the twenty-first century.
A typical modular home is around 15% less expensive than a conventional home of the same size and features. The degree of customization necessary determines the final cost of a modular home. Also, your choice of general contractor and any home alterations you choose to make will affect the final cost.
Modular homes typically cost between $50 and $100 per square foot or between $60,000 and $200,000 for a base model that includes simple delivery. The cost of a modular home is decided by the arrangement of the floor plan, the number of bedrooms, and the level of customization. A modular home costs between $30 and $60 per square foot to erect and construct.
Modular homes come in a variety of styles, and each builder charges differently for their base and turn-key finished homes. Always double-check the builder’s pricing to ensure that the invoice includes everything you want.
90% of modular homes are built at a factory during a one to two month period, and then sections of the house are delivered to the site. Contractors prepare the land, connect the components to a foundation, then connect the utilities to complete construction.
Can You Get a Loan FOR MODULAR HOMES?
USDA construction loans, FHA loans, and VA loans are the most popular financing options for modular homes. All of these loans are convertible to mortgages. Check with your local bank to see what choices are available. Additionally, reputable modular home builders will refer you to a lender that the company has pre-approved.
Hiring a Modular Home Builder
It’s important to look for prior experience when hiring a modular home installer or a general contractor because this sort of construction is more specialized than other types of construction. The following are the responsibilities of licensed general contractors:
- Prior to beginning the job, obtain all essential permissions and follow all applicable construction codes.
- Assume complete responsibility for the administration and control of projects.
- Prior to the escalation of possible concerns, their identification and resolution should occur.
- It is necessary to hire and manage subcontractors for specialized work.
Constructors will be in charge of site preparation, which will entail clearing land, coordinating utility hook-ups, and constructing foundations. Afterward, they’ll assemble the modular home parts and organize the final touches. Finally, they’ll add finishing touches such as a driveway, porch, or garage.