Cost of Modular Homes
For home buyers, the number one priority to owning a home is cost. Monthly payments can be expensive, especially when coupled with rising tax rates and high insurance costs. For those looking for brand new homes, in most cases the cost can be even higher. Fortunately, that is not the case with modular homes. In fact, the cost of modular homes per square foot is stunningly less than those of traditionally built new houses. There are several reasons why this cost is kept at bay, even with all of the custom options that buyers have with them. The first reason that the cost of modular homes is less is because the builders buy so much material at once, the price of their building supplies goes down significantly. Since supplies and materials are included in the price of new homes, this cost reduction gets passed onto the home buyer as well. The second reason that the cost of modular homes is lower is due to the turnaround time. Modular homes take a fraction of the time that regular homes take to be built, so the builder can sell a larger quantity. Because of this, savings are also passed onto the home buyer.
Financing for modular homes can be done either by a lender like a bank or credit union, or the financing can be conducted through the modular home builder. Either route is good, but it’s up to the home buyer to determine what is best for their financial situation. Irregardless of which financing method you choose, your overall cost should usually be significantly less when buying a modular home. This is because per square foot, modular homes cost less overall. The price of building the home is actually part of the total cost. The cost of modular homes is much less than many of their counterparts but shop around and decide which size you will want and how much the builder you decide on will charge. Be sure there are no hidden fees or charges, and most modular home builders will be up front about the total price which will include construction, delivery, and the final touches on the home.
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