The real estate business is a challenging realm to be a part of. Homeowners have to navigate the tricky aspects of either buying or selling a house, real estate companies have to keep tabs on market prices and demands in order to survive. Construction and architecture companies are slowly closing out due to the lack of opportunities. Despite all efforts to try and control the variables involved, the housing market is always like a soap bubble ready to burst.
Changes in the market
With the shift in design aesthetics, more and more people are looking for homes with a more modern look. The rise of the minimalist trend also has people looking to live in spaces that look sleek and feel clean without the need for a lot of unnecessary design choices. Function over form is now becoming an emphasis; in fact, most furnitures and fittings that are multifunctional are now being sought after.
These recent trends have also taken the world of architecture by storm. For example, the latest innovations in 3D printing technology have allowed engineers and architects to fully automate the creation of houses on site, lessening the time and resources required to create a home. Although this would seem like the better option in terms of low-cost housing, most of the technology for 3D printed homes are still in pre-production or are prototypes awaiting grants for mass production. Numerous architecture companies however, are also looking into other home-building methods in an effort to branch out to lower-economy markets.
The Value of Prefabricated Homes
Enter prefabricated homes. Unlike the conventional method of building houses on site, prefabricated homes are houses whose pieces are constructed off-site in a factory, but are assembled on location. Although prefab homes still aren’t dirt cheap, they cost significantly less than traditional homes due to a number of reasons.
One of the reasons why prefab homes cost cheaper than building a house using conventional methods is that less time and labor is required when assembling them onsite. Prefabricated modular homes for example, are homes that are assembled by room, or module as it is called. Modules already come with the necessary fixtures needed for its purpose (e.g. stairs, doorways, electrical outlets) so very little work is needed when assembling them onsite. And because there is very little work needed to assemble these modules or panels, they require less manpower to do the job; cutting down on costs for the customers or clients.
Another reason why prefabricated homes cost less is because there is less wastage of raw materials. Prefab home panels or modules are built in a factory, and most of the factory processes ensure that they are efficient not just in terms of output but also in terms of how much percentage of raw materials is discarded or wasted. The amount of money saved from wasted materials is then passed onto the customers. Because of how fixed the costs can be in the production process, firms like Stillwater Dwellings can provide clients with upfront figures for materials and services required for prefab homes. This method of homebuilding also allows for very close estimates, reducing the chances of clients getting billed exorbitant rates for unexpected costs.
What’s next for the housing market
So will prefabricated homes save the housing market? Potentially it could, especially if with significant markdowns on fabrication and transportation costs. With the support of federal and state government policies in terms of real estate taxation, zoning, and efficiency in processing permits, it may very well be the solution to the housing market woes.
By Samantha Black
who is a content writer and developer at Stillwaterdwellings. She is passionate about writing, and converted this hobby into a career. For the last 6 years, she has been writing stories on many different topics.