There are plenty of reasons why more people are choosing modular construction for their new home builds. The quality of the designs and materials is high, and the time-saving efficiencies of the off-site construction methods are a big plus. On top if this, in many instances, modular homes can also be an affordable option for first-home buyers, families, investors and retirees alike.
When looking for the right home for your budget and needs there are many considerations. The location, design features and everything in between, all impacts the cost of your new home. So, if you’re wondering which construction method offers the best value for your project, read on to find out more about the affordability of modular homes.
Remote or Rural Locations
If your block is in an area with limited access to tradies and supplies, a modular build can potentially offer significant savings. With 80-90% of construction completed in the off-site manufacturing facility, the time that builders and trades people will need to be on site is greatly reduced.
When your builders are travelling long distances to get to your site and you need to pay travel or accommodation costs for a full on-site build that takes 8-10 months, a modular build can be far more affordable. With a modular home, the team will only be working for 4-6 weeks onsite to install your new home – instead of the 6-10 months of a conventional build. This means that even when you factor in the cost of transporting your new home to site (depending on the location), the overall project cost of a modular build often offers more value.
Knockdown Rebuilds
For those who opt for a knockdown rebuild on their existing block, choosing modular construction is a great time (and money) saver. While construction of your new home is happening off-site, you can continue to live in your current home for longer. In some cases, you can remain in your original house until just a few weeks before your new home is installed.
This means that the overall time you’ll need to find alternative accommodation can be as little as three months – which is far more manageable than the usual time frame of up to 12 months for a conventional build. If you are paying rent while you wait for your new home to be built, the reduced time of a modular knockdown rebuild project can really make a big difference to your budget.
Rentals Ready Faster
Developers who are building a new investment property may also find modular homes an affordable option. The speed of construction is a major factor here, as it means the project can be completed and ready for tenants faster. There is also the potential to coincide settlement with delivery of the new modular home, which can reduce holding costs.
Other Key Considerations
Whether you’re looking at a conventional or modular build, there are some other important factors to consider when deciding on the most affordable option for your project. Choosing a floor plan that is the right size and includes lots of value in inclusions is a good starting point. Also, don’t forget to be mindful when choosing your block of the extra hidden costs involved if the land is sloping, has no existing services or is situated in an area that is bushfire prone or impacted by planning overlays.
Affordability is an Important Box to Tick
When you build a new home, you want it to be of the highest quality, fit within your budget and be ready for you to move in as soon as possible. Modular construction has the potential to tick all those boxes. However, every project is unique. The key to finding the best value and fit often comes down to having an open and honest discussion with your builder at the very beginning, as this will help guide you to the most appropriate and affordable option for your project.
Over to You
Do you have a question about the modular building process? Or our designs, inclusions and prices? We’d love to hear from you! Simply post a comment below or contact our team on 03 5145 7110.