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If you’re seeking the appeal of a minimalist life on the water, the cost to build a houseboat will depend as much on how much elbow grease you’re willing to dedicate to the project as it does on the type of materials you decide to use for the job.

A houseboat is a self-propelled vessel with a cabin. There are many styles, giving people wide discretion on how they choose to build their own houseboat.

Let’s break down factors and average costs associated with building a houseboat.

Average Cost of Building a Houseboat

How much does it cost to build a houseboat? Just like the cost to build a house, it depends on size, materials, whether it’s a total DIY job, and more.

The cost of building a single-story houseboat is at least $10,000-$20,000 and perhaps closer to $50,000, some sources say. To be clear, that low estimate means doing all the work yourself or with the help of friends.

Labor costs for professionals such as electricians or plumbers will increase your expenses substantially. So understand that you’ll be trading time and know-how for savings.

There are also houseboat kits and plans for sale. Charmingly, some are advertised as DIY pontoon tiny houses.

By contrast, you can choose to purchase a serviceable preowned houseboat that needs some renovations. Used houseboats can go for anywhere from around $20,500 to way over $1 million (or multi-millions) for luxury craft that border on liveaboard yachts. A houseboat in good condition is generally going to cost you from $30,000 to $200,000 to buy used. Shiver me timbers!

Here’s a rough estimate of the cost of building a houseboat vs. buying a used one.

Regardless of whether you’re planning to handle the build yourself or you intend to refurbish a used houseboat, you may need financing. How to pay for it? Not with a traditional mortgage. Options include a boat loan and a personal loan.

Homeowners with sufficient home equity may be able to launch their houseboat plans with a home equity line of credit (HELOC), home equity loan, or cash-out refinance.

Recommended: How to Find a Contractor

Factors That Affect the Cost of a Houseboat

Houseboat living has caught on with some retirees who want to downsize home-wise.

It also could be a choice for minimalists and millennial homebuyers who think outside the box.

Not everyone, of course, will want to be a full-time liveaboard. Some water lovers will be okay with a basic houseboat for cruising and recreation, one that is maybe trailerable. Those are factors that will affect the cost of your preferred houseboat.

Here are factors to consider.

Size

The size of your houseboat will have a major impact on the cost of materials you’ll need. Are you planning to build a single-story or double-decker houseboat? Will this be something that would fit on a standard 50-foot pontoon base, or will you need something more robust to keep it afloat?

Consider the cost of $50,000 to build a basic 50-foot houseboat that will probably end up offering 450-500 square feet of space. That comes out to at least $111 per square foot, assuming you don’t hire anyone to help with construction. Your houseboat project could very well end up costing more than $200 per square foot.

Bear in mind that these figures are a very rough estimate that was calculated across a broad average of houseboats.

Design

The design of your houseboat will have a large effect on your options when it comes to layout, maneuverability, and aesthetics.

Before you begin construction, you’ll need to decide on what type of hull best suits your houseboat. Aluminum pontoons are popular.

Catamaran cruisers are maneuverable and may be cheaper to build, but they often compromise on space. These designs are easily outfitted with motors and may be best suited for owners who intend to take them out occasionally.

Those looking for larger accommodations may prefer a type of house called a floating home, which is different from a houseboat. It often has a concrete hull and is meant to stay in one place, permanently attached to utilities. The price, though, will usually be much higher than that of a houseboat.

A few sailors may opt to build a yacht, which offers the ideal combination of maneuverability and living space. You’ll have to have a hefty check at the ready or prepare to borrow a boatload if you’re considering this option.

Materials

The most common materials used to build boats intended for habitation are aluminum and fiberglass, but in some cases, steel and wood can be construction materials of choice.

Thicker aluminum grades and premium coatings can increase costs by 10%-20%.

The cost of interior finishes largely depends on your personal tastes. They can be affordable if you’re fine with a no-frills setup but can tack skyward for more luxurious tastes and larger vessels. Stainless steel appliances and granite countertops cost money, regardless of whether they go in a house or a houseboat.

Will you want a staircase and flybridge? Budget accordingly.

Location and Water Depth

The environment you intend to keep your houseboat in will affect how much you’ll have to pay to make it seaworthy.

The price of an inboard motor may start at around $8,000 and go up to $30,000. An outboard could start at $1,500 and go up to around $25,000. Depending on how large your vessel is, you may need to pay for a larger motor with more horsepower.

Federal regulations governing recreational craft prohibit most houseboats from sailing in deep ocean waters. However, cruises along the shoreline or in a lake or river are acceptable options for capable houseboats.

Weather

Whether you decide to launch or keep your houseboat in freshwater or saltwater, local weather patterns will affect houseboat maintenance.

Saltwater is a tougher environment but has a lower freezing temperature than freshwater, which means that you likely won’t have to worry about ice forming in the water.

By contrast, if your houseboat will primarily be in freshwater, you may have to deal with ice. As water freezes into ice, it expands, which can damage your hull or rudder.

Permits and Regulations

Any recreational vessel must meet federal safety requirements and possibly abide by state regulations.

Average Cost of Living on a Houseboat Year-Round

The cost of living on a houseboat starts at as low as $6,000 per year, some sources say. This breaks down to around $500 per month.

Most of these costs encompass mooring fees, utilities, and insurance, but you’ll also need to budget for repairs and applicable local fees. Some houseboat communities have a homeowners association that allows all residents to distribute community expenses, such as maintenance of the docks.

Does a houseboat cost less than a home sitting on terra firma? Generally, yes. You can build a houseboat for far less than a comparably sized single-family home. As a future liveaboard, though, you might want to compare moorage and other fees to the costs of maintaining a traditional home.

The Internal Revenue Service says a boat with cooking, sleeping, and toilet facilities can be a main or second home, so interest paid on a loan for your houseboat could be included in the mortgage interest deduction if you itemize. Be sure to verify your specific situation with a certified tax professional before filing.

The Takeaway

How much does it cost to build a houseboat? The cost could start at $20,000 for a DIY build and depends largely on size and materials. Hiring skilled labor will add to that substantially. An alternative to building a houseboat is buying a used one and making it your own. How to pay for these nautical visions? One way, for qualified homeowners, is a HELOC brokered by SoFi.

SoFi now offers flexible HELOC options to turn your home equity into cash. Access up to 85% of your home equity, or $350,000, to finance home improvements or consolidate debt. Competitive interest rates and repayment terms up to 20 years could result in lower monthly payments versus other loans. And the online application process is quick and convenient.

FAQ

How large can a houseboat be?

In most cases, small houseboats are about 40-50 feet long and midsize boats are about 50-60 feet long. However, luxury houseboats can be much larger, measuring up to 75 feet or more.

How long does it take to build a houseboat?

A DIY houseboat project could easily take 18 months or longer to complete, but the time frame will depend on whether you’re able to work on the houseboat project full time and whether you enlist any help. Remember to factor in time to obtain necessary permits or inspections for your area.

Where can I get financing to build a houseboat?

You may be able to finance your houseboat build through lenders that focus on marine and recreational vehicle lending. Other options are a personal loan, a home equity line of credit, a home equity loan, and a cash-out refinance.

Photo credit: iStock/MarkHatfield

SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

SOHL-Q226-094

Many manufactured homes take just a week to build. (Yes, a week!) Manufactured homes can be built so quickly because they’re made in a factory, a controlled environment. All of the materials and tradespeople are on hand, and the standard sizes of manufactured homes make for quick and easy builds.

The time it takes for the manufactured home to be placed on land is much longer, however. In this article, you’ll read about the basics of new manufactured homes, as well as the timeline for building and delivering a manufactured home. You’ll also learn the factors that affect the building timeline so you can be on the lookout for possible slowdowns.

What Is a Manufactured Home?

A manufactured home is built in a factory according to standards set by the U.S. Department of Housing and Urban Development (HUD). The home, which usually has one, two, or three sections, is transported to a dealer, plot of land, or manufactured home community.

Manufactured homes average a lower cost and shorter construction timeline than traditional homes, but homebuyers should be aware that manufactured homes may depreciate. Then again, depending on the local housing market and the home’s setting, a manufactured home might gain value.

How much does a new manufactured home cost? The average price nationwide was $131,200 in late 2025, with a single-wide averaging $85,400 and a double-wide $164,400, according to the Manufactured Housing Survey conducted by the Census Bureau and sponsored by HUD.

That helps to show why manufactured housing is gaining in popularity. In 2025, manufactured homes accounted for 10% of new-home starts. It’s the second most popular home type, after detached, single-family homes.

Recommended: What Is a Modular Home?

Timeline for Building a Manufactured Home

How long does it take to get a manufactured home? From placing an order to moving in, it could take about four months. That compares with 8-9 months for a traditional contractor-built home.

The site can be prepared, if needed, while the manufactured home is being built. If you need to develop raw land (i.e., put in your own utility connections, clear the land, or install a driveway), the process could take much longer.

Process of Building a Manufactured Home

Several factors help determine how long it takes to get a manufactured home, start to finish. Keep in mind that sales centers for manufactured homes may be able to offer help or coordinate the process.

Design, Model, and Floor Plan Selection: 1-3 Weeks

You’ll most likely start your manufactured housing journey by choosing your home model, floor plan, design, finishes, exterior elements, and other details of the home. This process can take a week or more.

It’s a good idea to start here, because you may have to wait until the factory is available to build your home. If you choose a model that’s already been built, you can save some time.

Financing: 4-8 Weeks

Before construction can begin on your manufactured home, you’ll need to get approved for a loan for the home and, if applicable, the land. You’ll submit your personal information, your income and employment, specs on your chosen manufactured home, who you’re purchasing the home from, and information about where you’re going to place the home. Going through the mortgage prequalification process can help you determine how much home you can afford.

Most of the time, financing options depend on whether the home is real property or personal property.

Some manufactured homes qualify for a conventional mortgage. Another option is a government-backed home loan. In most cases, the home must be permanently attached to a foundation and on land that you own or will own. That makes it real property. An exception is an FHA Title I loan, which can be used for the purchase of a new or used manufactured home on land you do or do not own. There are loan limits.

It’s also possible to finance a manufactured home with a large personal loan. It’s worth noting that a personal loan may have a higher interest rate than a home mortgage loan.

And a chattel mortgage may be used to finance a home that won’t be permanently affixed to the land.

Recommended: Credit Score Needed for Personal Loans

Site Selection: 1-4 Weeks

When it comes to placing your manufactured home, it could take time to find the proper setting. You’ll typically be faced with two options: lease or buy land.

Leased land: With leased land, you’ll pay a fee — usually between $600 and $900 per month — to place your manufactured home on a lot. Lots are typically close together and include utility connections and some community maintenance. Some may feature shared amenities, such as a swimming pool or park.

Purchased land: Many lenders offer financing for a manufactured home with the land. A lot in a community may already have a paved pad and utility hookups. If you need to install your own utilities, you may need to find a contractor to coordinate the exterior elements. Your manufactured home sales center may also be able to help with some of these details. A land loan on its own could take around a month to secure.

Permitting: 1 Week to Several Months

Setting a manufactured home on land requires a permit. Requirements can be found from your county or city. The permitting process can take a few days or a few months, depending on your locale, but be sure to submit all required documents and plans so you don’t face additional delays.

Site Preparation: 1-4 Weeks

Site preparation for raw land can include tree and rock removal, land grading, and driveway installation. This may also include connection of utilities such as water (or a well) and sewage (or a septic system).

Minimal site prep can be completed in less than a week, while more extensive site prep can take up to a month.

Construction: 1 Week

The factory environment makes for quick construction: a few days to a week. Materials, tools, and craftspeople are located in the same factory to increase efficiency. Standard sizes and finishes also account for the short construction timeline.

The manufacturer tests the electrical, plumbing, and other systems as your home nears completion.

Transport and Installation: 3-4 Weeks

After construction is complete, you may be wondering how long it takes to set up a manufactured home. While transporting your manufactured home will likely only take a few days at most, you may have to spend more time on the installation of the home.

Once the home has been transported to your site, it’s attached to ground anchors, and the utilities are connected. Then, if you desire, additional exterior elements, such as a porch or a garage, can be added. Customizations like this will take several weeks to complete.

Factors That Affect the Building Timeline

Type of Manufactured Home

The size and type of your home will affect the building timeline. A triple-wide manufactured home, for example, will take longer to build and will also require more site development. This is because a bigger manufactured home requires more extensive installations, such as a larger septic system.

Features of the Home

Some custom features, such as French doors, will take additional time to build into your home. But manufacturers say these features usually add only a little time to the process.

Backlog

Although the actual construction of your home may only take a week, you may need to wait for months for the manufacturer to begin construction due to a backlog.

The Takeaway

Securing financing, selecting a site, obtaining a permit, and developing the land all take much more time than the construction of a manufactured home. It could take four months from the time you order a manufactured home to stepping into your new home. Getting your financing plan in place can help keep things moving along smoothly to move-in day.

Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.

FAQ

How do you speed up the process of building your manufactured home?

If you want to build a manufactured home faster, you can shop around for builders to check on their availability and get your finances in order. Know which loans apply to the home’s setting (whether it’s on leased or owned land) and consider getting preapproved. You can also select a manufactured home that’s already built rather than design your own custom home.

Are manufactured homes cheaper?

Manufactured homes are usually cheaper than traditional homes. The average sales price for a new double-wide manufactured home (not including land) was $164,400 in late 2025, compared with the median sales price for a new single-family home, $397,600, around the same time, according to the U.S. Census Bureau and Department of Housing and Urban Development.

Do manufactured homes take a shorter time to build?

Manufactured homes take much less time to build than other forms of housing. Because the homes are built in a controlled environment, manufacturers can avoid weather delays and supply shortages and can schedule trades (such as plumbing) more efficiently. Everything is in one spot, and the standard dimensions of manufactured homes make construction efficient.

Photo credit: iStock/uptonpark

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.

SOHL-Q226-091

The cost to build a duplex varies widely, based on many factors, but the average approaches $402,000.

Understanding the nuts and bolts of constructing a brand-new two-unit structure can give you a better sense of how much it will cost to build a duplex.

What Is a Duplex?

Duplexes come in different sizes and designs, but they have some commonalities:

•   One building, one lot: The two units are in one building on the same piece of property.

•   Common partition: Duplex units have a shared wall or ceiling/floor. Occupants may share the yard space and a laundry room.

•   Mirrored size or layout: The two residences in a duplex are often mirror images of each other or the same size.

In general, buying a duplex will cost less than purchasing a stand-alone single-family home in the same area. And it might be cheaper to buy a duplex than build one, although you can customize new construction. Then there are people who convert a single-family home into a duplex. That could cost $150,000 on average.

Duplexes are in demand, thanks to owner-occupant financing advantages and potential rental income. They can also be found among HUD homes for sale. If you’re thinking of buying an existing home, you may be able to finance your purchase with a home loan. If you have an existing home to leverage for funds to invest in building a duplex, a home equity line of credit (HELOC) could be a suitable financing option.

Recommended: What Is a Duplex? Should You Consider Owning One?

Factors That Determine the Cost of Building a Duplex

Plenty of factors influence the cost to build a duplex, with some choices stretching the budget more than others.

Location

In more desirable areas, the price could increase significantly. Land prices in the Northeast tend to be the highest, with Rhode Island, New Jersey, and Delaware being some of the most expensive.

To learn more about the cost of living in different states, check out this page on the best affordable places to live in the U.S.

Materials and Labor

Depending on supply and demand, the cost of materials and labor can vary dramatically. If there’s a shortage of labor or supplies, duplex builders may pay a premium.

Building a duplex, or any property from the ground up, requires specialized labor, including these pros:

•   Architect

•   Structural engineer

•   General contractor

If the lot has a property on it, the buyer may need to pay to demolish it before building a duplex. If the lot is bare, adding utilities such as plumbing, electricity, and gas will factor into the cost of the build.

Size of the Duplex

In general, the larger the structure, the higher the cost. Also, the more rooms and the more complicated the layout, the higher the price. To figure out how big a certain property is, simply calculate the square footage.

Type of Duplex

The type of duplex you build can affect the project’s cost, with prices ranging from $115 to $240 per square foot. Here’s how the kind of duplex can influence its price tag:

•   Stacked: Stacking the units on top of each other will typically be the least expensive build, as it’s the most efficient. Owners may be able to save on labor, as the units will mirror each other and save time on plumbing.

•   One-story, side by side: This is likely a more complex build.

•   Two-story, side by side: This type of duplex is even more complex and has more square footage than the above options.

Miscellaneous Factors

Depending on the lot purchased or desired features, there could be additional costs associated with the build:

•   Demolition: If there’s a property on the lot, it can cost between $3,000 and $25,000 to tear it down.

•   Interior design: While not required, hiring an interior designer could help both spaces feel more livable and comfortable. The average interior designer costs between $50 and $200 an hour.

•   Modular duplex: A modular duplex, meaning buying a prefabricated home, costs $50-$100, on average, per square foot.

•   Garages: If the duplex owner wants a garage or two attached to the home, they may pay $16,000-$42,000 or more.

How Much Does It Cost to Build a Duplex?

With an understanding of the cost factors that can affect the budget for the duplex, now it’s time to address the big question.

Here are the overall costs and costs based on labor and square footage, using up-to-date national averages.

Overall Construction Cost

These are the high-end, low-end, and national averages to build a duplex:

By comparison, building a new house could cost an average of around $323,000. Meanwhile, the average existing single-family home in the country sold for $403,500 in late 2025.

Labor Cost

A large portion of the budget to build a duplex will go into labor and specialized professionals. Construction workers averaged about $40 per hour in 2025, though there’s a wide variation by region and type of labor. The overall cost of construction labor has increased steadily for more than a decade.

Cost by Square Foot

Here’s a breakdown of average cost per square foot (including labor) for duplexes:

•   1,500 square feet: $172,500-$360,000

•   2,000 square feet: $230,000-$480,000

•   3,000 square feet: $345,000-$720,000

•   4,000 square feet: $380,000-$880,000

•   5,000 square feet: $475,000-$1,100,000

Recommended: Investing in Duplexes: How to Do It and Is It Worth It?

The Takeaway

While building a duplex isn’t that different from building a single-family home, the process does include additional labor and considerations that can sway the budget dramatically. Size, style, and location can influence the cost to build a duplex.

Some people interested in building a new duplex will look for a construction loan, but if you’re a homeowner who’s eligible for a HELOC, that could be a good source of funding.

SoFi now offers flexible HELOC options to turn your home equity into cash. Access up to 85% of your home equity, or $350,000, to finance home improvements or consolidate debt. Competitive interest rates and repayment terms up to 20 years could result in lower monthly payments versus other loans. And the online application process is quick and convenient.

FAQ

Is it cheaper to buy or build a duplex?

Given the price of labor and materials, it’s often cheaper to buy a duplex than build one from the ground up. However, building new offers the benefit of customization.

How much do you have to put down to build a duplex?

A construction loan typically requires a 5%-20% down payment. A home equity line of credit or home equity loan could be used instead if you’re eligible.

How long does it take to build a duplex?

According to the U.S. Census Bureau’s latest Survey of Construction, it takes about 12 months on average to build a 2-4-unit residential building. However, this doesn’t include the time it takes to obtain permits.

Photo credit: iStock/Luckie8

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.

SOHL-Q226-092

If you’re seeking home affordability, you may be looking at the cost to build a manufactured home. As of December 2025, a new double-wide sold for an average of $161,200, according to the Manufactured Housing Survey conducted by the Census Bureau, whereas a new single-family home went for an average of $419,200 around the same time.

With such a gap, it’s easy to see the allure of manufactured homes. Yet the price of a manufactured home doesn’t tell the whole story. The land, site prep, any exterior additions, and financing all add to the cost to build a manufactured home.

If you want to take a serious look at what a manufactured home is really going to cost you, here’s what you should know, starting with what is a manufactured home. We’ll also cover the cost of manufactured homes by size, additional costs to consider when building a manufactured home, and how manufactured homes are financed.

What Is a Manufactured Home?

A manufactured home is built entirely in a factory and is attached to a permanent chassis. Once construction is complete, it’s moved to a lot of the owner’s choosing. The wheels are removed, and the chassis is placed on a foundation. A pier-and-beam foundation is most common in manufactured homes.

Assembly is completed by attaching the different sections, connecting utilities, adding any exterior elements, touching up the interior, and installing tie-downs.

Manufactured homes were called mobile homes before June 15, 1976, when the Department of Housing and Urban Development (HUD) building standards began. The HUD code regulates home design and construction, strength, durability, fire resistance, and energy efficiency.

Standard dimensions make manufactured homes easier to mass-produce in factories, resulting in quick construction timelines and lower costs.

Are these modular homes? No. Modular homes are also built in factories, but a modular home must meet the same building codes as a site-built home and has a permanent, standard foundation.

The Cost of Manufactured Homes by Size

Manufactured homes typically come in three sizes: single-wide, double-wide, and triple-wide. Each section is designed to fit down a highway, with the maximum width typically set at 16 feet. (Texas adds 2 feet, while North Dakota allows the width to exceed 16 feet in certain circumstances.) A single-wide runs 40-80 feet long.

Here’s what you can expect to pay for a new manufactured home as of December 2025, according to the U.S. Census Bureau and HUD’s Manufactured Housing Survey:

•   Single-wide: New single-wide homes usually range from 600 to 1,300 square feet and have an average price of $88,200.

•   Double-wide: Double-wide manufactured homes typically range from 1,000 to 2,400 square feet and average $161,200.

•   Triple-wide: At 2,000-3,400 square feet, these homes start at $200,000.

Anything smaller than 400 square feet may be considered a tiny house or a park model. Both are often classified as recreational vehicles and are not meant for full-time living.

Additional Costs to Consider When Building a Manufactured Home

How much a manufactured home costs may look deceptively low. However, there may be costs beyond the sticker price, especially if you want to place the home on raw land and need a land loan.

In addition to the home, you might have to pay for utility connections, exterior additions, taxes, delivery, and setup.

You’ll also want to pay attention to the rates and terms of loans you qualify for. Owning the land almost always opens the door to more attractive financing options.

Recommended: How Do Construction Loans Work?

Land Expenses

With a manufactured home, you have the option of renting or purchasing the lot.

•   Rent the lot: Expect a monthly rate of $200-$800. This doesn’t include additional fees from the homeowners association.

•   Buy the lot: Land costs depend on size and location. If you inherit land, you may have no cost at all. You might buy a small lot in a resident-owned park, but if it’s a co-op, you’re buying a share in the community.

If you’re buying unimproved land, you may also pay for permits, site clearing and prep, a driveway, drainage, a porch, a garage, a deck, or other exterior additions. These can add quite a bit to the cost to build a manufactured home.

Utility Connections

If you’re thinking of buying or building a house on raw land, you’ll need a way to connect to utilities. Common costs include:

•   Water or well: Expect this to be $5,000-$15,000.

•   Electric: This can range from $2,500 to $12,500. While some power companies can hook you up for free, in other areas, the cost can be $10,000 or more.

•   Septic: These costs can range from $3,500 to $15,000. Manufactured homes in rural areas will need a septic system if there’s no sewer connection.

Delivery and Setup

Most manufactured home dealers include the cost of delivery and setup when you purchase a home. Some, though, leave delivery and installation for the customer to arrange and pay for.

At a minimum, setup for a manufactured home may involve:

•   Hooking up utilities

•   Testing connections

•   Touching up interior elements, such as where two sections meet

•   Adding skirting

Exterior Additions

If you want a garage, porch, deck, or other exterior structure, you’ll need to add these costs as well. Prices are national averages, as per online cost guide service provider Fixr.com.

•   Porch: $15,000-$35,000 (but can be as low as $5,000 or as high as $50,000)

•   Garage: $23,000-$45,000

•   Deck: $9,000-$20,000

•   Landscaping: $8,000-$15,000

•   Driveway: $3,460-$6,910

Taxes

You may need to pay sales tax on a manufactured home purchased from a dealer.

This is in addition to the property tax you’ll need to pay each year if you own the land your manufactured home sits on.

Should You Build a Manufactured Home?

Proponents of manufactured homes tout their affordability, quality, and quick construction. It’s possible to build a manufactured home that’s much less expensive than buying a new construction of a traditional home.

The Consumer Financial Protection Bureau points out that whether the homeowner owns the underlying land affects many aspects of the financing “and can have major implications for the homeowner in terms of cost and security of tenure.”

If you plan to lease the land and feel comfortable absorbing any lot rent increases, then a new manufactured home could be a suitable choice. Some communities are downright upscale, offering pools, tennis, pickleball, golf, fitness centers, clubs for every interest, security, and camaraderie.

Do manufactured homes depreciate? Homes that aren’t high quality or affixed to a permanent foundation often lose value. A depreciating value also means homeowners may not be able to refinance.

But some data shows that well-maintained manufactured homes in attractive locations actually appreciate in value.

You might want to compare the expected total costs of different types of houses — including a townhouse, condo, and detached single-family home — with those of a used or brand-new manufactured home.

Financing Costs

When financing a manufactured home, you’ll likely run into several options offered at the sales center. Just be aware that financing may be different from lending for other kinds of homes. One thing that’s the same? Your credit score and debt-to-income ratio make a big difference in the interest rate you’ll be offered.

For one, manufactured homes typically have a repayment period of 25 years or less instead of the 30-year loan that you can obtain for a traditional home. This translates into higher monthly payments.

A new manufactured home attached to a foundation on land you own will be treated like a traditional home as far as financing is concerned. Lenders take into consideration how a manufactured home is titled and deeded. If it’s considered personal property, you may need a large personal loan. A personal loan may have a higher interest rate than a conventional mortgage.

A chattel mortgage is another option for personal property.

An FHA Title I loan could be another possibility. These loans are used to purchase a manufactured home, the lot the home will reside on, or both. Keep in mind that there are loan limits.

Recommended: Mortgage Calculator

Dream Home Quiz

The Takeaway

How much does it cost to build a manufactured home? Much less than a traditional home, but be sure you’re looking at all the costs involved. A lot of the total expense of owning a manufactured home will depend on whether or not you own the land.

Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.

FAQ

How do you cut down on costs for a manufactured home?

Buyers can cut costs by choosing a standard floor plan. They can also request less customization or opt for a manufactured home that’s already built.

How do you pay for a manufactured home?

Manufactured homes can be paid for with a personal loan, a chattel mortgage, a conventional mortgage, or a government-backed loan. Choosing the right option depends on the homebuyer’s situation.

What are the best customizations for a manufactured home?

Popular custom finishes include coffered ceilings, fireplaces, built-ins, and kitchen islands. Buyers also opt for upgraded appliances and fixtures, rain showerheads, freestanding tubs, and upgraded lighting.

Photo credit: iStock/Marje

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.

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Some buyers may be buoyed by the thought of living on the water full-time. Living in a floating house is unique, and building one may be an even more ambitious undertaking than building a houseboat.

What’s the cost of building a floating house? Read on to learn about the expenses, benefits, and considerations associated with these aquatic abodes.

Average Cost of Building a Floating Home

The cost to build a floating house will vary based on size, features, labor, and materials, with a 1,200-square-foot model usually starting at over six figures. These aren’t houseboats, which are self-propelled and free to move about. Nor are they usually tiny houses, though some are. Floating houses are often a lot larger than houseboats.

An alternative to building a floating home is to buy an existing one. A quick look shows listings ranging from around $200,000-$400,000 for a family-size floating home in the Pacific Northwest, costing well over $1 million throughout the West Coast, and costing a few hundred thousand for a home floating in the Florida sun. Buying or renting a slip will add to the cost.

In comparison, the cost to build a house of 1,200 square feet could be about $180,000 at $150 per square foot, not including the land.

Factors That Affect the Cost of Building a Floating Home

There are two foundational considerations when building a floating home: constructing the platform the home will rest on and finding a slip at a moorage for rent or purchase.

The cost of building a floating house can ebb and flow depending on who’s doing the building (whether it’s a DIY project or you need to find contractors) as well as the points mentioned below.

The Foundation

Traditionally, floating homes rested on giant logs, but over time, logs sag and sink, requiring pressure-filled barrels to shore them up.

Nowadays, these homes stay afloat using concrete hulls. One type of concrete hull is filled with foam, which creates buoyancy. Another type is empty, and like a bowl placed upside down in water, the space and pressure keep the home floating.

Size of the House

Generally, the bigger the home, the more expensive the build. And the larger the home, the more floats it will require, further adding to the cost.

Floating homes are limited by the size of the moorage, meaning buyers need to work within specific parameters. That means building upward, but only as much as the floats will allow.

Design and Materials

The more custom or high-end designs integrated into the home, the more the build could cost. From custom cabinets in the kitchen to nonstandard windows, these add-ons can carry a higher price tag.

Alternatively, floating homes can be prefabricated using a standard design, which often lowers the cost. Similarly, some companies are now using decommissioned shipping containers as building materials, which could cut down the total amount needed to build a floating house.

Another cost to keep in mind is the siding material. Floating houses are on the water and subject to the elements, which means the exterior materials must be resilient.

Interior Finishes

As with a traditional home, your choice of interior finishes can drive the cost of a floating house up or down. Opting for a prefabricated floating house may lower the amount spent on the interior.

Other Expenses of a Floating Home

Mooring and Insurance

Floating-home owners often pay a monthly moorage or berthage fee and a homeowners association (HOA) fee. The cost will vary by moorage but can be around $1,000 a month.

There could be a transfer fee, and insurance may be expensive. Marinas may also require liability coverage.

Utilities

Floating homes are permanently affixed to the moorage and hooked up to local utilities, including water, sewage, and electric or gas.

If a floating house is designed with efficiency in mind, the monthly cost of utilities will likely be similar to that of traditional homes in the area. But a lack of shade could mean higher bills for cooling.

Some floating homes rely on a plumbing pump to carry sewage out of the home, which could create a higher electric bill.

Furniture

The average cost to furnish a home is $16,000, but since a floating home resides dockside, it’s harder to transport large items to the property. That could mean hiring extra labor or larger delivery fees.

Additionally, owners of a floating home may be constrained by the dimensions of a smaller space, meaning custom or specialty furniture that fits in with and into the home.

Financing Your Floating Home

In some states, a floating home is considered personal property, so it can’t be built or purchased with a traditional home mortgage loan. A local bank or credit union may offer a floating home loan with at least 20% down payment and at a higher rate than a conventional home loan. An inspection, at your expense, will likely be required to see if the home is in adequate shape to qualify.

Another option is a personal loan, which provides fast cash but usually has a higher rate than a secured loan.

Options for homeowners who have built sufficient home equity and are dreaming of a floating home include a home equity line of credit (HELOC), a home equity loan, or a cash-out refinance.

Recommended: HELOC Monthly Payment Calculator

How Long Do Floating Homes Last?

With regular upkeep and maintenance, owners of floating homes can expect their property to last 30-50 years before requiring rebuilding or refurbishment.

Pros and Cons of Living on a Floating Home

If you hear the siren call of the floating-house lifestyle, it’s a good idea to weigh the good vs. the not-so-great before taking the plunge.

Pros

Some possible benefits for floating-home owners include:

•   Tight-knit community: Dock living means living close to neighbors. A floating community could be a great fit if that’s your thing.

•   Good choice if downsizing: Minimalists, retirees, and others with an affinity for the water may find a floating home a chance to downsize.

•   Doesn’t require an engine: As opposed to boathouses, floating homes are permanently docked, so buyers or builders don’t need to factor in the costs of a motor. And there are opportunities to go even greener if you build a floating home: One DIY builder crafted a floating home on a lake in British Columbia that has a pellet stove, solar power, a composting toilet, and an evaporation gray-water system.

•   Water views all the time: If you prioritize proximity to nature, you can’t beat living on the water. A cup of coffee or a glass of wine is always accompanied by a pretty vista.

•   May provide less expensive housing: You may be able to build a floating home for less than a single-family home, especially in some of the hot spots for floating homes.

•   Potential for tax breaks: In some states, floating homes are considered personal property, not “real property.” In these states, owners pay personal property taxes instead of regular annual property taxes. Also, interest paid on a loan or HELOC for a floating home as a first or second home could be included in the mortgage interest deduction if you itemize. (It’s smart to consult a tax advisor about this matter.)

Cons

Now the potential downers:

•   Extra costs beyond the build: Moorage or HOA fees can range from a few hundred dollars to $1,000 a month. Insurance can be pricey.

•   Limited locations: Floating-home communities are uncommon, meaning vacancies are even less frequent. It could be hard to find a dock community to take a floating home to, or it could mean waiting for a spot.

•   Weather damage: Constant exposure to saltwater or freshwater can take a toll on a floating home. That can translate into more frequent repairs and replacements, adding to the cost of upkeep.

•   Financing challenges: It can be hard to secure financing to construct or buy a floating home.

Recommended: Tips for Buying a New Construction Home

The Takeaway

Building your own floating home? A few do take on that challenge, which can pay off in terms of cost and satisfaction. Others will look into buying a floating house that’s already berthed, as finding moorage can be a challenge. Although a floating house usually can’t be financed with a typical home loan, there are other ways to pay, including a floating home loan or a HELOC that’s based on your equity in a home you already own.

SoFi now offers flexible HELOC options to turn your home equity into cash. Access up to 85% of your home equity, or $350,000, to finance home improvements or consolidate debt. Competitive interest rates and repayment terms up to 20 years could result in lower monthly payments versus other loans. And the online application process is quick and convenient.

FAQ

Can you live permanently in a floating home?

Yes. Floating homes can be permanent residences. They’re designed and built to be lived in, just like a regular house on land.

Do you have to pay property tax on a floating home?

Floating-home owners don’t always have to pay property taxes. It varies by location, with some states considering a floating home to be personal property rather than “real property.”

Where can you get a loan to build a floating home?

Floating homes don’t usually qualify for traditional mortgages. Options include a floating-home loan from a small pool of lenders, a personal loan, a home equity line of credit, a home equity loan, or a cash-out refinance.

Photo credit: iStock/Roman_Makedonsky

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.

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