Likely One Of The BEST Video Tutorials On Modular Home Pricing I've Seen... BUT IT IS DATED!
- Harris, Finish Werks, 1/14/14, video from modularhomeowners.com
January 17, 2018 UPDATE: following 3 years, 2 hurricanes and CA wildfires in 2017, please add 20% to these figures for more realistic pricing!
August 7, 2020 UPDATE: building construction in the middle of the COVID-19 pandemic has drastically increased costs.
PLEASE ADD 40% TO THE PRICING IN THIS VIDEO (Aug 2020)
Modular Home Pricing...
The most common question: "how much is a custom modular home?"
This is one of the toughest spots Builders get into. No two projects or clients are ever the same, which makes budget projections a challenge each time a customer wants to know how much a modular home is going to cost. (It partly explains why licensed MD home builders must register with the Attorney General's office of Consumer Protection!) So how do we answer a perfectly fair question about modular home prices?
Clearing Up False ExpectationsModular factories (and the media) love to talk up how
inexpensive their homes are compared with stick-building. What they accomplish pushing this
amateurish PR message is creating false expectations for clients about pricing for modular homes. Why?
Because while you can expect to save 0-10% apples-to-apples, plus much shorter loan carrying costs, you should not expect to
save 30%, as some say. Much of a project's cost is site-related, so how can they lay claim to what is not in their domain when discussing modular home prices?
Fact is, home building is a business with so many unknowns that it can take more time budgeting than designing... which is antithetical to a successful project. Often a builder is obligated to give the prospective client something to work with in pricing for modular homes, but faces being "shopped" around for a better price. And everyone wants a good deal, right?
The challenge is that sooner or later you may find a company that will give you a wildly lower quote on a modular home price. A problem, you ask? Yes - your task becomes distilling an actual good deal from a bait-and-switch proposition because either that builder didn't know what he was talking about (and will either charge you more or walk off the job with his draw payment), or he was deliberate for cash from the onset. Starting in 2007, with new home construction spiraling downward, this problem has grew in severity...
Just take your time, and research.
In the end, the cost of modular homes is less than the cost of their stick-built counterparts, while offering better quality, much faster build-time, and more energy efficiency.
Controlled Cost of a Modular Home
Modular = Factory Construction = Design and Quality Control = Fewer Cost Overruns
So what do we deliver on set day? A nearly finished product that banks can happily authorize payment for. Because "field adjustments" (politically-correct speak for cover-ups of screw-ups made while building onsite) are largely eliminated, and everyone works in harmony, you get a better product with no hidden problems or cost overruns to pay for in the overall pricing for modular homes. This is, in essence, the "Performance" of Truth In Building.
How can I find out what plans fit my total project budget?
First things first: figure out costs for LOT DEVELOPMENT. In addition to the cost of the building Lot, add:
- Site Plans - detailed design plans by a licensed Civil Engineer for the Lot that include everything required for your builder to apply for a building permit (for home itself). Costs vary from $7K-$17K.
- Site Work - this is the actual work done by your builder, as prescribed in the Site Plan. Work includes lot clearing, utilities connections, storm water management features, excavation and grading, and can range from $5K to $75K and more for difficult sites.
- Permit & Impact Fees - these fees vary wildly depending on County and/or local jurisdiction requirements. Range: $1K (Balt Co as of Aug 2020) - $43K (Montgomery Co as of Aug 2020).
- Tap Fees - most public sewer and water utilities charge a one-time fee for connection to their infrastructure. Range: $4K-$25K.
- Private Septic & Water - if you don't have access to public sewer and water, you'll need to establish costs for Nitrogen Septic System installation and water well drilling cost: $18K-$25K and $5K-$15K, respectively.
Next, custom modular home costs (NOTE: add 30% to the estimates below as of August 2020):
You can get a rough idea of what your home might cost by using this simple method. Determine the approximate size of home you want. Find the rough cost per square foot (SF) based on the upgrades you want. Multiply the two and you will have a "ball park" price. Here's an example:
|Cost Per Square Foot Guidelines (w/ typical "green" upgrade examples; additional luxury amenities are also available)||Cost (examples)|
|- $125/SF (full basement, double-hung Low-E glass windows, airtight R21 walls, architectural shingles, CFLs, etc.)|
- $135/SF (eg. ENERGY STAR home cert., heat pump water heater, Superior Walls, deco gables/dormers, 9' ceilings, etc.)
- $155/SF (low-flo plumbing, 20SEER HVAC, Ply Gem Pro windows)
- $175+ /SF (eg. solar PV, near Zero Energy, low VOC cabinets, recycled Shaw carpet, lo-flo toilets and faucets, bamboo/tile, etc.)
- $190+ /SF (eg. Zero Energy, NGBS Gold Certified, with luxury upgrades)
- $250+ /SF (eg. Zero Energy luxury home)
| Home size - 2,300 SF|
(basement space not calc'd)
2300 x $125 = $287.500
2300 x $155 = $356,500
2300 x $175 = $402,500
2300 x $250 = $575,000
| Example of $145/SF Home||Example of $200/SF Home (Award Winning Haven Home shown)|
Every home, every project, is unique, which is why we call ourselves Custom Home Builders. From a budget saving standpoint, we've found that by building out basement and attic spaces we can increase the livable space while simultaneously reducing the cost/SF. Use
the figures above as guidelines only. Contact us for a preliminary estimate of the modular home you want to build based on your specific needs. BUT, you must be specific!
Please note that every home is different and it is not possible to
price a home without having a completed Site Plan and accounting for all the
variables that are unique to every site. What type of soil the home is
on, the foundation, the wind or snow load requirements, the distance
the home must travel to reach the site and dozens of other factors
affect the price of each home. These modular home price guidelines are
provided so that you will have some
rough idea of the costs involved. They are not intended and are not
offered as a quote for home construction.
Contact us for more information about prices regarding designing and engineering your custom dream home. As a Design/Build Firm, we make sure you get exactly what you want without the burden or expense of finding an architect or engineer. We keep architectural design and licensed engineering in-house for a turnkey solution.
Financing for Modular Homes
Finish Werks will work with just about all lenders. With rare exception, you can choose any bank or mortgage company (when not paying by cash) for financing for modular homes, and we'll provide a builder application, insurance certs, references, and create a draw schedule. We get to know your loan officer and construction processor.
We do not offer an "incentive" for using "our preferred bank and title company". You may have seen another builder present this tactic, which is, in fact, a way of not having to cultivate another relationship. Or he may receive more favorable terms from his preferred provider.
The bottom line is, we let you choose any reasonable lender that gives you favorable terms. And as long as that lender will work with us during appraisals, inspections, and on draw schedules, we are satisfied too. If you have not already been pre-approved for a Construction-to-Permanent loan, contact Mark and Beth Ann at Presidential Bank Mortgage. He and his team truly put people first.
Cash PaymentIt's work enough just trying to get financing approved without dipping into your cash reserves. For your convenience when paying for Drawings, light remodeling work, Energy Audits, or any change order(s), Finish Werks accepts:
Major credit cards online via PayPal, and checks by mail
Pricing for Modular Homes, Average Cost of Modular Homes, and Financing for Modular Homes from Finish Werks, Maryland Modular Home Builder.