Why The Prefabricated Building Forecast Looks Positive
How's this for a positive prefabricated building forecast: Judging by current market trends, the demand in the United States for prefab housing will reach as high as 185,000 units next year. This is despite an expected decline in single-family housing starts. In fact, manufactured housing is expected to be the dominant housing segment.
So why this positive trend for prefab residential dwellings? The main reason is the low cost, but increasingly, the quality of these units is on par with other non-prefab houses.
The term “prefab” conjures up images of industrialized steel containers, for many, but prefabricated buildings serve many purposes and often look similar, if not exactly the same as traditional buildings. Their greatest convenience is the speed in which they can be assembled and the relative ease in which they can be restructured or moved. Although portable in nature, prefab buildings can also be attached to a foundation for a more permanent structure.
Prefab buildings have been around for decades but are gaining popularity due to more modern designs and loads of flexibility. Several companies also boast environment-friendly features as well as low cost per square footage.
Unlike traditional buildings, prefabs are fabricated in a factory and then shipped to a construction site where they are assembled. This eliminates any weather interferences and speeds up the building process by as much as forty percent. These trends are helping to bolster the prefabricated building forecast.
There are three main types of prefab buildings: steel and modular buildings and manufactured homes. Prefab steel buildings are the most affordable of the three, but generally only consist of an outer shell. The interior work is typically installed after construction. These prefab buildings are ideal for enclosing a large, open space and are often used for warehouses, storage units, garages and even airport hangars and guard stations.
Modular buildings, on the other hand, consist of prefabricated interior and exterior components. These prefab buildings are constructed using standard building materials and are often indistinguishable from traditional buildings. They are built in units that are relatively easy to transport and easily attach and stack to create larger, multi-story buildings. Prefab modular buildings are ideal for classrooms, dormitories, medical centers and offices. They are also used to create traditional housing and often allow homeowners to enjoy a more custom design at the same price as a tract home.
Manufactured homes are perhaps the most mobile type of prefab building. Although they tend to be more obvious, experts say that a well constructed home can be built to look much like any other traditional building. Manufactured homes are generally used for temporary offices, classrooms and homes. Like modular buildings, they are entirely prefabricated and can be temporarily installed or permanently installed on a foundation. Manufactured homes come in single-, double- or triple-wide, which basically refers to the number of units used. They are only available as single-story units, however.
Several companies have manufacturing systems for developing prefabricated buildings, each with several floor plans and layouts to choose from. Most will also create a custom plan for an additional feel. Prefab buildings can be shipped to any location worldwide. Because local buildings codes vary, however, plans should be inspected by local contractors before construction begins. Depending on the type of prefab building and the specific needs involved, a general contractor may also need to oversee construction and site preparation.
Prices also vary greatly, depending on the size of the prefab building and the materials used. In general, however, steel buildings are the most affordable followed by manufactured homes. Modular buildings are usually the most expensive.
The prefabricated building forecast stands to remain positive for many years to come. The current bad economy will only improve the prospects in this growing market.
