Web Article: The Modular Advantage
Real Estate Industry Recognizing the Modular Advantage .
It’s the real estate agent’s mantra – location, location, location. Combine the dwindling buildable space in Southeastern Massachusetts and the desire on the part of existing land owners to retain stakes in this recently popular portion of the state and there may be a no better time than now for real estate professionals to add modular housing to their high priority list.
Most long-term homeowners understand that it is their land, rather
than the building itself, which offers the greatest value. As land is no
longer in abundant supply, and its desirability has increased, the next
best option is to use it wisely and creatively.
Consider the situation of a family who has lived in a 5-room ranch on an
oceanfront lot for 10 years. The home may have had sufficient room when
purchased, but upgrades are now required to accommodate a growing
family. The family wishes to remain on its existing lots, but a simple
addition is not enough to fulfill their current and housing future
needs.
That was the challenge for the professional real estate developer ... that is until the modular teardown/rebuild program came on the books.
Simply put, a homeowner arranges to have his or her existing house demolished and replaced, on the lot, with a newer, more suitable residence.
Real estate developers and builders have noted the shrinking supply of land available for construction, and the teardown/rebuild option one that is gaining popularity in the real estate industry. Modular, factory-constructed housing is a concept that is taking on new relevance and becoming a viable option for the commercial real estate developer.
The market and its needs are changing. The teardown-rebuild with the
assistance of quality, factory-constructed housing is a trend that is
answering the needs of a growing group of people who want to upgrade
without being uprooted… and reap the investment rewards of a region that
continues on the fast track to residential and commercial appeal.