The founder of Canon Business Properties recently wrote a wonderful article for Forbes.com regarding the emergence of permanent modular building solutions as a major player in the future of real estate construction. In it, Alex Radosevic confidently states that off-site construction of key structural building components is a trend that will likely see rapid and sustained growth. This is due to several benefits that permanent modular buildings like ones that Adaptive Shelters have to offer. Adaptive Shelters estimates a cost savings of 30% and a time savings of up to 40% on our modular solutions over standard on-site construction projects. The Forbes article helps elucidate why this is the case and other benefits.
Two major factors that affect a project’s bottom line is the planned project deadline and the overall budget. It’s easy to understand that finishing early and below budget is desirable, but it’s not usually attainable. Prefabricated steel modular components manufactured ahead of time with electrical and plumbing systems, completed interior finishes and exterior facades are transported and then stacked on-site with ease. Permanent modular buildings are set in place with great accuracy due to newer technologies that provide more precise measurements and fitment than traditional construction.
The cost savings isn’t only in avoidance of weather issues, site-prep, or construction delays though. The precision of the modular unit assembly requires fewer skilled workers, has less potential for human error, and has the same consistent high quality on every permanent modular unit. As more of these projects are concluded, the reality of substantial savings in permanent modular buildings is making the rounds with real estate investors. Modular technology is providing lower barriers to entry for property investors even in high demand and previously unattainable markets. Lower cost of construction paired with more companies in the market leads to more affordable housing for the population. The author of the article cites that family office, high-net-worth real estate investors, and most any other types of investors that are looking for opportunities that can deliver steady streams of income over a long term period should seriously consider projects that use permanent modular buildings for all or part of the project.