Modular Home Pricing- Money saving tips
It is easier to build up than out
More to the point, it is less expensive to build up than out. It is especially true
in modular homes that it is less expensive to build a 2500 sq. ft., 4 bedroom,
2 bathroom two-story house than a 2500 sq. ft. 4 bedroom 2 bath house all on
one level. There are many reasons for this.
For one thing, the cost of the foundation and roofing for the house is less
since the total area or footprint of the house is smaller, therefore less
material is used. This fact will certainly become evident when you start
pricing different models of modular homes.
For example, an 1800 square foot ranch house may cost $90 per square foot
to build on your land, while a 2400 sq. ft. two-story home from the same
manufacturer, built to the same specifications mayonly cost $75 per square
foot to build on your land.
One of the most popular types of plan you will find among modular home
manufacturers are plans with a “Bonus area”. Usually a bonus area refers to
an unfinished upstairs area that can be finished to add additional space to the
The buyer has the choice as to whether to buy the upstairs finished or
One thing to note is that generally when you buy a home with a finished
bonus area upstairs, the upstairs finishing work is completed on site by the
builder. The benefit of this is that the buyer may be able to customize the
upstairs to fit their needs.
This can be beneficial for a family that needs
extra bedrooms for a growing family, or it may allow a couple to build a
large master bedroom on the second floor.
Here are some things to consider that will benefit you financially when looking
at bonus plans:
If you are building a modular home to place on your land and live there through
retirement you may still opt for a simple one story plan, even though the price
per square foot will be higher.
After all, if you are in a good financial position and don’t need extra room, you
may be happier with a house that will not require you to climb up and down
stairs in your later years.
In many other cases however, you may want to consider buying a home with
an unfinished bonus upstairs area. For example, if you are buying the home
as an investment that you will eventually cash in by selling you can benefit
from buying a house in which the builder finishes the upstairs.
footage at a reduced price. Since the price you receive from your investment
will be influenced by an appraisal of the property . One criteria that is very
highly weighted in the appraisal process is the price per square foot of
neighboring As we have already noted, a house with a finishing the upstairs
adds extra square properties.
Therefore a home with the extra square footage you can add by getting the
upstairs completed will bring you significantly more money on the sale for a
Another way to benefit from a modular home plan with an unfinished bonus
area is to buy the home with the upstairs unfinished and finish the upstairs
yourself at a later date.
One benefit is that if you don’t have the money to buy as much house as
you’d like you can get a house with an unfinished bonus area and when you
have funds available you can finish off the upstairs without disrupting your
living area downstairs.
These plans come with a future plumbing package which makes adding a
bathroom upstairs relatively easy.
In addition, you will save money by either finishing the upstairs yourself or
arranging for contractors to do it as opposed to having the builder sell you the
house as a completed two-story home.