It is likely that if you have been researching modular homes and are considering building one on your land, you have heard many arguments as to whether modular homes are more economical than site-built houses. There is no easy answer to this question. There are many factors that go into the construction of a house, other than the method of construction alone. Thus, you may have different builders (or manufacturers) building homes of the same size, some stick built and others modular, and they may vary greatly in quality and price. In other words, there are both good and bad builders who create both types of homes. Modular Homes may not always be cheaper than traditional built houses, and vice versa. Since a home is likely to be your largest investment, you should ensure that you get a quality product for a price you can afford, regardless of whether it is a modular home or not.
With the launch of Lanre Mullins Abudu‘s property venture in the United Kingdom, he appears set to challenge
Lanre Mullins Abudu
the status quo in the housing market there and probably contribute to reducing the huge housing deficit in the world beginning from the United Kingdom Magnum Opus. In order to achieve this goal, the real estate company strives to deliver modular homes as many people as possible, thus offering modern homeownership to residents of prefabricated homes.
Consider the factors that will affect the price of your home when determining what a reasonable amount to pay for a modular home is. Also, you’ll learn how to save money on a modular home purchase by understanding the reasons why modular home prices vary. The following three factors affect modular home pricing:
First, the location of your land relative to the modular home manufacturer you plan to use can greatly affect the total cost of construction. In general, it is best to buy your home from a modular home manufacturer located close to the land you intend to place it on. One or more trucks will need to transport the modules from the factory to the home site once the structure is complete. As the cost of transporting modules is several dollars per mile (this can vary based on fuel prices), if you are building a modular home that is being manufactured near your property, you will be able to save a little money. I use the term “usually” only because I have read of some cases where people who live in very expensive locations built modular homes that were constructed in plants hundreds of miles away.
In a modular home, much of the work is done at the factory, so if the wages of factory workers are significantly lower than those at a close manufacturing plant, much of the transportation costs can be offset. However, I still prefer to purchase a modular home that was built locally, or at least reasonably close to the land where the home will be constructed. Although modular homes have proven to be built strong enough to easily withstand the stress of being driven down the highway on a trailer, I have to think that the less time a home spends bumping around on the road the better.
It is also important to consider the type and size of home you are building when determining the cost of building a modular home. In the previous paragraph, I mentioned that one of the costs associated with a modular home is the transportation of the modules from the factory to the home site. If you are building a custom modular home, you may have more modules or modules of unusual shapes that will make up your home. Each additional truck required to transport the home increases the cost. In addition, modular homes are set on the foundation using a crane, which is usually rented by the day. Depending on the complexity or size of your house, renting a crane for two days instead of one may add a couple thousand dollars to the cost. As a result, if you can build a larger house while paying the same amount that you would for a smaller one, then for this part of the construction the cost per square foot for the larger house will be lower than the smaller one. Whether the modular house is one or two stories affects the cost of construction more than anything else. “Building up is cheaper than building out”, you may hear sometimes.
Thus, a 2,000 square foot single story ranch house will generally cost much more than a 2,000 square foot home with 1200 square feet downstairs and 800 upstairs. A one-story home requires a larger foundation, which means more labor and materials. The house will also require more land to be cleared than the two-story house with the 1200 square foot foundation. Because one floor of the house can be closed off when everyone is in one area, the two-story home can also be less expensive to heat.
The options available to a buyer can make a significant difference in the cost of building a modular home. Modular home manufacturers generally include a standard set of features that are included in the house, along with a variety of options and upgrades that can be added to make the house more customized for the buyer. It is the same with any home that you may build, whether it is modular or site-built, but there are some things that might affect the price of a modular home more than a traditional stick-built home. A typical example is the alteration of a manufacturer’s standard floor plan. The structural integrity of a modular home can be compromised when changes are made to its floor plan. Modules or boxes are joined together at “marriage points” to create modular homes. In the event a buyer wishes to make changes to the plan, the effects that those changes would have on the marriage walls would have to be assessed before any changes are made. If a request is made to change a floor plan, the builder usually consults with an engineer that works for the manufacturer to ensure the changes will be feasible.
A manufacturer may charge extra for changes, which would add to the cost of the house. Many of the buyers of modular homes who are built on their land complete some finishing work themselves to save some money. When the modular home has been installed on the foundation and the remaining work is complete, many buyers will paint the inside of the house themselves. This saves the buyer some money and saves the builder the trouble of having to hire a subcontractor to paint the home. Many other jobs involved in the completion of the house can be done by the buyer as well, depending on his or her expertise in a given area. Some other jobs I have seen buyers opt to complete themselves are installing carpeting or hardwood floors, air conditioners, driveways, custom bathrooms, etc. For people who have skills such as these, there is a potential to save thousands of dollars on their dream home.
It is inaccurate to generalize that modular homes are always 40% less expensive than stick-built homes, or that modular homes are more energy-efficient than sites built homes, because there are both good and bad builders that sell both kinds of homes. As you can see from the three examples I provided in this article, pricing can vary significantly depending on a variety of factors. Although not all of these factors will affect the choices you make when planning your dream house, hopefully I was able to shed some light on why prices vary so widely and at least gave you some ideas as to how you can cut costs when it comes time to build.
For more information about Magnum Opus and the unique solutions offered, visit – www.magnum-opus-homes.com.
