How do you determine how much your new home will cost?

Buying a home is very much like buying a bag of groceries. The price depends on what you put in the bag. The same applies to homes.

Many amenities are available that you, the customer, are able to choose from. Custom cabinetry and countertops, whirlpool tubs, interior door styles, hardwood trim packages, various grades of carpet, ceramic tiles, and hardwood flooring are just a few of the items you are able to customize yourself.

The options and necessities you choose in your new home will be reflected in the final price. Your on-site additions and scope of work also play a major role in determining the final cost. That is why all pricing is particular to each home that is built, and a general cost per square foot can be a little misleading.

When making an “apples to apples” comparison, a Pine Ridge home can be as much as 7-15% less than conventional construction. In addition, due to the fact that our homes are built utilizing modular building techniques, there are more advantages, such as reduced weather delays, more efficient build times, and quality control.

How does the financing work?

A construction loan is required and then a permanent mortgage is finalized at the end of construction. Generally, the interest rate on a home varies depending on the amount of equity, or down payment, going into the loan. The terms of the loan can vary as well. Consumers are able to finance a home over a short period of time, or terms of up to 30 years are available. Our homes have the same mortgage terms as the site-built market and longer lending terms can make a new home much more affordable.

Land/Home financing is common. Whether it is a single lot or several acres, the consumer is able to roll the purchase price of the land and the price of a new home into one package with one monthly payment. The property can be used as equity/down payment. A land/home transaction can also be in the form of land already owned. This could mean that no out-of-pocket cash would be needed! And, as with all land/home transactions, improvements to the property can also be financed. Driveways, septic systems, wells, garages, sidewalks, etc. can all be financed in the same package. More and more people are purchasing a “turn-key” package, and Pine Ridge Homes welcomes the opportunity to help with all of your housing needs.

To help you determine a monthly payment that would fit into your budget, use our Mortgage Payment Calculator.

If you would like more information on any of our financing programs, please give us a call at 618-283-4340, or email us at We will be happy to reference various local and regional lenders that can assist you with your mortgage lending needs.