The REAL Cost Of Modular Homes NOW!

The real cost of modular homes may vary from state to state but there are some good guidelines to follow if you are budgeting for a new modular home. Modular construction over the past couple of years isn’t the same as it was even two years back and you will need to really weigh out your options if you are looking for an affordable housing option. In this video, we will compare modular home construction to manufactured homes and traditional stick-built construction to see at this time which one has the best bargain for your buck.
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Kristina Smallhorn
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eXp Realty LLC,2900 Westfork Dr. Suite 401, Baton Rouge LA 70817
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Kristina Smallhorn is a licensed REALTOR® with the state of Louisiana, License #0912122918
Disclaimer:

[juandiego]

I work in manufactured/modular retail. This last year especially, many customers have been getting priced out of a modular project that they had in mind. On the note of the "hybrid" mods you were talking about, I'll first ask a customer how important having a basement is to them - if they don't mind having a slab underneath, I'll tell them that we could do a doublewide with full drywall interior, and a 5/12 pitch on the roof. So it still will be a manufactured home and need to have a title registered (gotta love NYS!) but be essentially indistinguishable from a modular. Even after adding in the cost of the drywall and 5/12 components with the factory (and labor on delivery), the cost ends up being about $35-50k cheaper doing it this way. I wouldn't personally call it a hybrid, as that feels a bit misleading, but I think it's helped quite a few of my customers get into a home they love without overstretching the budget they have to work with!

[MRDDev]

I always found funny that I grew up in a third world country and we lived in a house fully made of concrete and bricks, now I live in the US and had to buy a house made of sticks, anyone else see anything wrong with that? Do you all remember the 3 little pigs story?

[shallonc]

So my husband and I priced two modular homes, a 2 story (3100) & 1 one story house (2700 sq ft) and they were both more expensive than the stick built home we had priced. The stick built home (3600 sq ft) was larger and came with luxuries (granite, cabinetry, wood & tile flooring, etc.). We couldn't believe it, this is crazy! We are either going to wait to build or add-on to the home we have now.

[joseavila]

My wife and I recently looked into a modular home. Even before buying the land it was more expensive than just buying a house. I was really disappointed. We’re just gonna have to wait for prices to come back down.

[silvertbird]

So basically any savings one might have realized has evaporated as the cost is now about the same as traditional construction. I checked a local company and was shocked - what they quoted for the houses not much less than what another builder quoted to construct a house of similar size. Thanks for the info, looks like I won’t be moving. I am now officially priced out of my market. Time to shovel money into the current house to update it. Never thought I would see this happen in Texas.

[davidschoenleber]

I could not agree more with your comments. Now is not the time to buy a modular home. We did, what a nightmare! We were supposed to have the house in the beginning of December 2021 and finally got the house April 11, 2022. Or close to 40% over budget including a 12% surcharge for lumber and a surcharge for fuel. I was disappointed in the quality of construction given to factory environment in which it was built. No excuse for walls not being plum and stairs they don’t match in height. We did our inspection walk-through and I found close to 50 items which were unsatisfactory. Been waiting two weeks for a response.

[Greg_Knight]

Kristina, love your channel and we used it as reference before we started our project. We are nearing the end (FINALLY) of placing a cross-mod home on .6 acres in the Sierra. We purchased during COVID and have had extensive delays due to lack of materials, labor, weather, and permitting delays. Our unit had NONE of the modern looking options available in prefab start ups, or in Canada & Europe. In fact, no one did for the size we needed (1, 500+sq. ft.). Clayton Homes used to have the i-House (manufactured) which we loved, but when we asked our rep, we were told it's no longer available. Our site cost around $70K for the land. Prep of that land to date (grading, compacting, surveying, permits, extra dirt/rock, stub ins for utilities, perimeter foundation, steel, concrete, and blocks for foundation) have come in around $53K. We have another $25-$30K to go for septic, water connection, and electrical. Our unit, with customization, tax, and fees, came in around $177K. The same unit post-COVID is now base priced at over $230K. We signed our contract at just the right time. The real budget killer is in the ground works. It's hard to get solid estimates, many items are not included and end up being added on because they have to be, and labor is an issue. Our lot already had water, electric, and Internet available. Of course, ours was challenging being at 7, 000 ft. elevation, in a National Scenic Area, and in an extremely remote area with almost zero labor. I guess a question I would have, is why don't manufactured & modular producers here in the US offer nicer, modern, or architecturally pleasing exteriors like in other countries? I think this would draw in more buyers and help pressure municipalities to allow the units in housing-starved areas.

[MonieMoneSays]

Wow. I found my dream modular home for around $425K but with everything you mentioned as far as the extra services needed, I’ll have to purchase a traditional home. It’s gotten so expensive from years ago when I first started looking 😩

[uniqmaxwell]

Definitely reconsidering buying a modular or manufactured home. Sounds way more expensive than I wanted it to be 😞

[guysview]

I have a two story geodesic dome modular home. For me it is perfect. On a half acre lot I have my extra blacksmith shop, garage, woodshop and large veggie garden .

[RifatMajumdar]

Thank you for bringing this up. I found modular home to be more expensive than the site built or stick built home. My goal was to build a passive house and so far it is way too expensive.

[ginamoody]

Thank you for this video. I went to Clayton Homes today 3-4-23. They told me they can make any Manufactured home and make it a Modular Home. I don't know if that is true. He said they take the Manufactured Home and take it off the metal trailer and put it on a concreate slab and boom it's Modular. Sounds a little crazy to me.

[ericamelton]

We've looked into both stick-built and modular home construction but with inflation, supply chain shortages, and labor issues, we feel it's just not the right time to build. Luckily we live in a paid off house (best thing we ever did was get a 15 year mortgage) in a great location so hopefully it will continue to appreciate while we wait for things to improve.

[DebiBrady]

I've loved the idea of a manufactured home for a very long time. Now their standards are as high and sometimes higher than tradition "stick/site-built" homes. Love your insights, cautions, and clarifications! Hugs Kristina!

[secretfox]

I found your channel because I was researching modular homes.
I was thinking it would be perfect, but the price is way more than what it used to be, so I will be looking at other routes to getting an affordable house.

[balleningram]

Great video. Love your summary of the costs of the modular homes.

[TexasHeifer]

Kristina, do some research into yurts and earthship homes. I live in southern Colorado where there is minimal rain and winters are relatively short and mild. Insulated yurts are becoming popular as temporary housing, especially among young people who own land but need to save additional money before building.

Earthships are being built out of everything from adobe to dirt-filled tires or plastic bottles. If built in a rural area, they require initial investment in a septic system, well (or cistern) and solar or wind power. Passive solar allows for free heating; active solar or windmills power batteries to run a well pump and electric appliances. When completed, earthship homes are inexpensive to operate and are environmentally friendly. In some states there are government programs available to help with the cost of purchasing or installing solar panels. Homeowners living in a sunny locale can generate enough electricity to power not only their home, but an electric car as well. Some, with large solar arrays, make money by selling electricity back to the local power company.

As the cost of home ownership continues to increase, and demand for affordable homes outpaces supply, Americans will be forced to think outside the box in regard to home construction. This also means that lenders are going to be pressured to reconsider financing for unconventional homes.

[nataliefontane]

We are hoping to build a modular home sometime in the future because we want a small home that's easy to make passive or net zero for emissions. I have no idea where or when we'll build this because it was sort of a retirement plan, but if prices aren't more affordable, we'll probably opt for something else.

[wendymall]

What do you think of buying land now, and building a modular home later, when costs come down?

[Jorgie]

My parents "built"/installed a modular home in upstate NY 17 years ago. They added basement, and also had an expensive septic due to environmental constraints of NYC watershed. The cost was around ~400k. Part of that was due to shady 1st contractor, who they had to walk away from.