| The recent nationwide housing slump, which has left | | | | replacement components. |
| many homebuyers to experience the downside of | | | | All of these savings are passed on to the |
| Adjustable Rate Mortgages and feel the crush of | | | | homebuyer. And, because the construction time is |
| rising mortgage payments, is also affecting the home | | | | greatly shortened as compared to the time frame |
| construction industry, putting many builders and | | | | needed for a traditional site built home, homebuyers |
| industry sub-contractors in very tight financial straits. | | | | reap the benefits of lower interest rates and fewer |
| This trend is not true in the modular homes industry, | | | | payments on construction loans. Although they were |
| however. The demand for new homes is still high, | | | | wary at first, mortgage lenders are seeing the rapid |
| and homebuyers are increasingly seeking alternatives | | | | growth in the sale of modular homes and are thus |
| to rising new home prices and interest rates. One | | | | adjusting their practices to accommodate this |
| growing alternative is modular homes. Modular home | | | | growing market of homebuyers. |
| building is on the rise and is becoming more popular | | | | Modular homes are not only on the rise in the United |
| with homebuilders and homeowners each day. | | | | States. Homebuilders around the globe are seeing |
| Why? Public perception towards the industry has | | | | modular homes as an answer to both the growing |
| changed as more people have come to understand | | | | need for affordable housing and the increasing |
| the structural, construction and cost benefits of | | | | industry demand for green building and energy |
| modular housing. Modular homebuilders are providing | | | | efficient construction. For example, modular homes |
| solutions to the need for affordable housing, by using | | | | are currently being used to ease the affordable |
| advanced engineering and building systems to provide | | | | housing crisis in the Highlands of Scotland. The |
| quality, attractive home designs at affordable cost | | | | planned £20million construction project will |
| and at a fraction of construction time. | | | | provide dozens of pre-built houses, and will see |
| Modular homes are constructed in pieces in controlled | | | | modular houses built in eight Highland areas over the |
| factory environments. Factory production means | | | | next three years. |
| fewer accidents and mistakes and a more predictable | | | | Because of the focus on energy efficiency, |
| product and time frame. The pieces are then shipped | | | | architectural and design communities worldwide are |
| to the site where they are assembled. Because the | | | | coming together to create innovative designs for |
| pieces need to be shipped, they are built much | | | | homes of all shapes, sizes and tastes. Custom |
| stronger than traditional site built homes, using ten to | | | | modular homebuilders, such as Grant Smereczynsky, |
| fifteen percent more construction materials than are | | | | CEO of Building Systems Network, a custom modular |
| normally used. Modular homes also offer a much | | | | homebuilder based in Atlanta, GA, are encouraging |
| higher quality control standard, with so many | | | | consumers who are not yet familiar with the options |
| third-party inspectors, engineers and architects | | | | available in modular homes to educate themselves |
| involved. | | | | about the benefits of these advancements in |
| Since modular home builders provide 80 to 85 | | | | engineering, architectural design and systems-based |
| percent of the home, the buyer avoids the risk of | | | | construction. |
| giving money to a builder and not having the home | | | | "Don't let these innovative designs and new home |
| built to their specifications, or of having their price | | | | building technologies pass you by," Smereczynsky |
| inflated by numerous change orders. Additionally, | | | | says. "Take advantage of benefits and opportunities |
| unlike modular homes, site-built homes are exposed | | | | available to home buyers of affordable luxury and |
| to unfavorable weather conditions during the | | | | custom dream homes, as well as energy efficiency |
| construction process, making the home vulnerable to | | | | and increased durability and safety that modular |
| water or weather damage, and increasing the costs | | | | homes and modular home builders provide. |
| of the project by adding additional materials and | | | | |