Prefab/modular homes provide an interesting and affordable alternative to the traditional residence in terms of labor, land size, maintenance, and the ability to customize. Manufactured homes are a viable option that more and more people are starting to consider. When these homes first became popular in the 1950s, they represented so much opportunity. Today it is being realized.
The usefulness and accessibility of these prefab homes can be appealing. The rise of financial and intellectual capital being invested in modular homes demonstrates the changing landscape of how people live and the potential to address affordability.
While modular homes – built in a factory to local building codes and assembled on-site – accounted for less than 1.5% of all the homes built in the U.S. in 2014, according to Fred Hallahan of Hallahan Associates, a Baltimore housing consultant with a focus on modular housing, they could be on the verge of becoming much more popular. Some factors in that potential success are design flexibility, economical production, and reduced labor costs.
Modular homes are attractive to millennials looking to buy their first homes and boomers looking to downsize. Nowadays, factory-built or manufactured housing offers affordable, sturdy, and green living in an attractive package. Modern manufactured homes give people of all ages a way of getting established in an otherwise tight housing market, especially in California.
Today’s prefab homes have evolved into some highly sophisticated varieties in all shapes and sizes. Some designs are easy enough for anyone to configure, customize, and call one’s own.
Written by Evanne Holloway, a Research Assistant at RSG