How Modular Construction Can Help with Rising Construction Prices
Why are construction costs on the rise? It was predicted in June 2022 that construction costs would increase by over 14% by the end of the year and then stabilize at a 2–4% annual increase for 2023 and 2024. There are a variety of factors that influence this inflation, including rising energy costs, supply chain issues, and labor shortages.
Necessary materials like gypsum, lumber, steel, and paint have become increasingly expensive. As a result, purchasing or leasing a building has grown more difficult for business owners. The answer to this crisis lies in commercial modular construction techniques. Working with a modular construction company can save you time, money, and energy.
Enjoy Modular Construction Cost Savings
Efficient Assembly
On-site construction costs companies a significant amount of money. Construction companies need to pay workers for the time spent traveling to construction sites, fuel and other transportation costs, and time spent cleaning up leftover materials. This needless spending during the construction process can be avoided with modular construction methods.
Creating modules for buildings in a factory is more efficient than on-site construction. At Mobile Modular, we can reuse excess materials and create more products on any given day. We also don’t have to worry about transportation to a construction site. There are no delays due to weather or unforeseen circumstances on a project site, resulting in a quicker construction process. After building the modules at the factory, we put them together at the site of installation. This efficient practice of lowering construction costs by creating modules in our factory ultimately reduces the cost of modular buildings.
Less Material Waste
At commercial modular construction factories, companies have all the materials in one location. We can easily utilize leftover softwood lumber for another building project. Reusing extra materials and producing less material waste means that we spend less money while creating modular buildings and don’t need to charge as much to make a profit.
Standard Floor Plans Available
Modular buildings are often constructed with a standardized design in mind, with little variation unless a customer requests otherwise. Customized modular buildings are a notable exception. We have a variety of pre-designed models available. Customers who are happy with a standard design can order their building and receive it promptly. Standard floor plans eliminate the need to wait for an architect to create a new design blueprint. When modular construction companies don’t have to pay for an additional design, the construction process is less expensive and faster.
Modular Vs. Traditional Construction Cost
How Much Money Is Saved On Modular Construction?
While the cost of a commercial modular construction project varies greatly based on size, design, materials used, and other amenities, creating the equivalent building with traditional construction methods will always cost more. The differences in modular vs. traditional construction costs are staggering. Modular construction costs are 20–30% more affordable than traditional construction costs, leaving modular buildings as the smart, cost-effective solution.
Local prices may vary, but nationwide trends indicate that modular construction is often the more affordable option.
What Is The Average Modular Construction Cost Per Square Foot?
The average modular construction cost for a building (not including site work or cost of property) varies depending on the location and the scope of the site work required. The width, number of stories, and complexity of the floor plan will also influence the overall cost. Customized modular buildings cost more because the modular construction team has to establish a new design and specification.
Why Affordable Modular Construction Is Essential
Helpful To Businesses
Because businesses aren’t spending excessive amounts of their budget on leasing or purchasing an office building or storefront, they can spend more on things that matter. Modular office building prices are becoming an increasingly appealing alternative to companies everywhere.
Money from savings and business loans should be spent on things that will provide a return on investment, such as marketing, material for more products, additional employees, technology that makes the job easier, and new product prototypes. Saving money on monthly rental fees or building payments by operating from a modular office or storefront means that businesses get the opportunity to reinvest their budgets to expand their company and offer more goods and services, stimulating the local economy in the process.
Accessible For Nonprofits
Budgets for nonprofits often don’t leave much room for excess spending money and emergency funds. With these limited budgets, nonprofits need an affordable building solution. Commercial modular construction is a practical way to accrue savings, and nonprofits could benefit greatly from the cost-efficient leasing and purchasing options offered. Spending less on an office building means that they have more resources to help the community they’re dedicated to serving.
Beneficial To Communities
Speaking of communities, modular building methods can be used to improve them. Local city governments can invest in modular buildings as a way to create community restrooms, emergency response swing spaces, resource distribution centers, and more. Buildings from a modular construction company can also be used as dormitory solutions for government agencies such as military bases.
Save On Commercial Modular Construction Costs With Mobile Modular
Looking for a modular construction company to fulfill your commercial building needs? Building modular offices, classrooms, healthcare facilities, churches, government buildings, disaster relief buildings, construction trailers, and other industrial buildings is our specialty. Browse our inventory to view our stock modular buildings, and reach out to us for a free quote for your modular construction project.
