Prefabricated homes: Could these properties be worth considering for investment?
When someone calls a home 'prefabricated', or 'prefab', many people would likely have only a vague notion of what this means. However, in the coming years, it's likely that prefab buildings will become more and more common across the nation, which could make them a great possibility for investment in Surfers Paradise property.
What is a prefab home?
At a basic level, the definition of a prefab home is a property built – or fabricated – anywhere that isn't the house's final location. Whether it's a single room or the whole property, prefab is becoming a popular way to cope with increasing housing needs and supply demands in a fast, efficient way.
Also known as off-site construction or modular construction, the fact that the house is put together separately from the site means the result is typically completed faster and for a lower price. While they were once viewed as an easy option in the property world, new tools and sustainable materials have allowed for the creation of luxurious spots and beautiful dwellings for a fraction of the time and cost.
This is especially true in the modern, time-poor society we live in. Being able to get something up and off the ground as soon as possible will put you ahead of the competition and allow you to start turning a profit faster.
But what are the specific benefits of pursuing prefab construction for your investment real estate in Surfers Paradise?
With more people deciding to take up the mantle of a cleaner, greener lifestyle, it's no wonder that property developers are also becoming more conscious of the materials and methods used to build their real estate. And this is one great thing about prefab construction; their creation has been very carefully planned and outlined, with materials ordered in bulk in order to cut down on the amount of material wastage.
In fact, an article from The Guardian in April 4 2013 pointed out that the faster construction can reduce the overarching schedule for completion by up to 50 per cent, which is great news for those looking for a faster turnaround on their initial investment.
Another factor to consider for prefab construction is how affordable it is when compared to traditional building projects. Because the property is being built at the same time the site is prepared, the duration of the building process is shortened, saving you many potentially expensive hours.
Cutting down on any potential expensive delays is also a great bonus. Because the building is made away from the site, any delays caused by rain or other weather related issues won't need to be factored into the process, helping you to keep expenses for wasted days to a minimum.
Health and safety
Manufacturing these homes in a controlled, factory environment is a safer way to approach this than the traditional construction methods. Having the majority of construction done off-site means the construction workers can quickly assemble your prefab property, without worrying as much about the hazards of a busy and active construction site.
This also offers some peace of mind with regards to quality control, with these homes being created in a controlled environment by professionals experienced with this type of property construction.
Furthermore, keeping the materials for the property inside a temperature controlled area, rather than exposed to the elements, means that the chance of damage is reduced. This can help cut down on health issues caused by mould, rust and sun damage on the human respiratory system. After all, keeping your tenants in good health should be an important factor for you to keep in mind.
If you're interested in the prefab possibilities in Surfers Paradise, now could be the time to get in touch with a local real estate agent to begin discussing the options available to you.