Tear Downs replaced with Modular or Stick Built

[Christopher Coleman]

Hello,

New investor here focusing on tear town / redevelopment. I have purchased 2 lots and I will be tearing down the current structures and replacing with new single family homes between1600 and 2500 sqft and am considering going modular instead of stick built. I was wondering if anyone who has done this can tell me if after comparing price per sqft of the building aspect of the project only (cost of land, environmental remediation, and demo excluded) they have found modulars to be a more cost effective way to go rather than stick built. Also, any negative aspects of choosing modular over stick built that you may have encountered?

To be clear, when I say modular, I am not talking about anything that could be considered a mobil home. I am talking about placing a factory built home on a permanent foundation with that home built to the same national standards as used for traditional stick built homes.  I have included a pic of an example elevation. (In searching here for info, I seem to find many posts associating the word 'modular' with mobil / trailer type structures).