There have been various reports (https://www.marketsandmarkets.com/Market-Reports/modular-construction-market-11812894.html) that prove the ultimate rise of the prefab industry. Yes! Modular construction is definitely the future due to the vast number of worldly problems that they aim to solve.
With an ever-growing population at the rate of 1.05% each passing year, (https://ourworldindata.org/world-population-growth) there has been a huge demand for new affordable quality homes with a rising desire for homeownership amongst young adults, seniors, and every other person. Considering the advantages of longevity, faster construction, availability, innovation, and affordability, prefabrication proves not just to be a dream anymore but a ‘necessity’ in the industry.
Benefits of building a modular vs. a conventional home
It’s not just the affordability and durability make them the superpower for tomorrow but also their beliefs in sustainability and energy-efficiency. The method of modular construction has proved to leave a positive impact on the building industry to a total of about 77% reduction in construction waste and 65% savings in the total project cost.
Have a look at the following reasons why modular homes could make it through the future of the building industry:
Now here are some good news. Home loans are applicable to modular homes just like conventional homes, so you do not have to face the cost of a home upfront. Rather your lives will be made much easier as the manufacturers themselves acquaint you with finances and the process. Similarly, affordability is quite high. It takes about $180 to $220 per square foot for modular homes, unlike the regular traditional homes that require $300 per square foot.
So, do you see the major difference in savings here? As more and more people are becoming money-conscious, buying a modular home would be a great way to own a home in lesser money – especially for young adults, seniors, and middle-class society.
It is so common for all of us to be so engrossed in our daily schedules, right? Well. That is going to keep increasing in the future. We are going to be busier each passing year. Now, this is another advantage that modular homes will offer. As most of the construction takes place in the factory – lesser time would be required to inspect the onsite construction as required in traditional building construction. Human resources are saved and so are the costs of contractors, architects, and other professionals.
Right from initial planning to setting-up, all that is required from your end is the basic specification and requirements that are needed. Rest everything is being taken care of.
Easier Construction and Flexibility
One day, you suddenly realize you need a home or a mobile home for your next upcoming road trip vacation – and guess what? You will be able to live that dream. Modular homes are quite flexible and easy to set up. So, today you place an order online and within the required time-frame – it will be transported.
You will then be able to take this home anywhere you feel like. It can also be used as a garage or office extension after its original use. You can play around with the modules and semi-modules to create your own another space. You could remove, add, and mold the existing to create a perfect new space extension for your homes.
Do you hate the sight of ongoing building construction across your home? Well yes. Who doesn’t? There is a certain drilling noise that gets us out of our way while we are working or sleeping. Or do you always find dust sitting on your outdoor furniture? Yes. That is what disrupts our comfort along with landscape views and vistas.
Certainly, this has become a major way of discomfort amongst the local homeowners. There are also a few diseases linked with construction air and noise pollution. So, to solve the issues of landscape preservation and wellness altogether – prefab factory-built homes offer a great solution. That way – there is also a reduction in land pollution waste or formation of landfills.
Climate change is real. Not just construction but even the rest of the industries are considering futuristic solutions for their problems. With these huge utility bills – people are being driven to techniques like solar panels, solar water heaters, and solar tubes. Due to less wastage and more utilization of energy-efficient materials – modular homes are the definite solutions of the future. As the structure is pre-cut and molded in the factory – there are lesser chances for inaccuracy and tolerances. Hence, clean energy is maximized. Lesser infiltration and more insulation make these homes efficient and an ultimate product of sustainability.
Nowadays, people are becoming even more conscious about sustainability and living. Buying a modular home will give them the joy of leading a healthy life that is also helping the planet and its people.
Future Projections of Modular Construction
A recent survey has revealed that the growth in the modular industry has projected to increase to $157 billion by the year 2023 (https://www.prnewswire.com/news-releases/modular-construction-market-worth-129-67-billion-by-2023-818121207.html) Not just homes and housing but even the rapid construction of hospitals, offices, and schools are going to be a major demand. Due to the lesser availability of on-site space to keep the construction materials – factory-built models are likely to take over and emerge as a winner.
A report (https://www.nreionline.com/development/modular-construction-use-booming-commercial-building) in 2019 stated the overall worth of the modular industry to be around $8 billion which was believed to have been doubled in the last 5 years. Modern contractors were embracing this new style of construction due to its faster production and better-quality check alongside accuracy in design. Diving deeper into automation and industrialization, these contractors are now more attracted to this new style of construction. In the present scenario, the overall demand growth has been projected to a total of 7.1% annually. (https://www.prnewswire.com/news-releases/modular-construction-market-worth-129-67-billion-by-2023-818121207.html)
One such noteworthy example is the United Kingdom. In the past few years, they have observed the demand to increase by 6% each year. (https://kianejatian.medium.com/the-rise-of-prefab-construction-past-present-and-future-7f84abe08b3b) This growth is highly dominated due to the lesser availability of land to keep the traditional materials and practice traditional construction.
So, What’s the Takeaway?
Prefabs and modular homes have years and years of history. And they could never be more efficient as they are in the present scenario. The advantages offered by these homes simply can’t be compared to the regular ones – and especially, in the future – when technology evolves, modular construction is going to dive deeper into innovations.
As we all know, housing will always be in demand. Population growth is expected to rise and not fall anytime soon – which brings us to the fact that we are not left with ample options. The only way to build better, faster, and sustainable homes is modular homes.
Modular homes are the need of the hour. What we have now was never expected just 5 years ago. So, they should sincerely be considered – especially for the areas where time and space are restriction. Some question, why modular homes are not as popular as the advantages they are offering? Well. That’s because they are housing’s best-kept secret.