Building Materials Costs Are On The Rise– Is Modular The Solution?
Building materials costs have been rising recently. Modular and prefabricated construction has been steadily growing throughout recent years. Building materials costs and shortages are a reason we could see this industry grow in popularity even further.
Those who work in the construction industry will be able to tell you how difficult the rising costs and material shortages have become. Fuelled by the UK’s exit from the EU and the Covid19 pandemic, disruptions in construction material supply chains have sent materials prices skyrocketing. This leaves construction companies searching for materials and solutions. It’s hard to say if or when materials will come down in price. For as long as the demand is high and the supply is scarce, the prices will be higher.
The building material shortage is impacting builders across the UK and Ireland. The shutdown of building sites across the country does seem to have been somewhat of a catalyst for modular construction, which hasn’t faced the same challenges in that department as more traditional methods.
Ultimately, the market choices in respect of modular construction or other modern methods of construction are on the increase. These alternative methods allow a wider range of products, which will in turn have an impact on cost. Modular homes reduce costs by being much more efficient and quicker to build. Whether a particular project ends up being cheaper than a traditional building depends on specific home designs and the cost of materials. Most prefab builders can save costs on materials through bulk purchasing. The meticulous factory building process helps companies drastically cut down on construction waste and debris, which is an enormous cost.
One of the many advantages of prefab homes is that they are less expensive than traditional homes. The efficiency in resource and material use alongside mass-production models with factory-built homes makes them more affordable.
The Cost Of Construction?
Every project is unique and brings with it a wide array of expenses. Site planning, design, materials, equipment, labour, just to name a few. A typical construction project will begin incurring costs before the first shovel strikes the ground. From paying the architect to the surveyor, depending on your construction project, the costs can vary greatly.
A significant number of construction projects also incur substantial losses when it comes to overages; budgets are set with a deadline and when deadlines aren’t met, the budget is exceeded, and substantial costs are incurred.
When you’re constructing a building on-site it can create a plethora of possibilities for needless waste and loss of materials which can lead to financial accidents.
Traditional losses in on-site construction include:
- Lack of security leaving materials exposed to theft.
- Exposer to the elements
- Disorganised job site
- Labour losses due to mismanagement
Labour can be one of the more costly aspects of construction, but with offsite construction, modular companies use factory labour, which is much less expensive than typical on-site construction labour. What this means is that the shorter the time it takes on a particular project, the faster that project can begin producing income. On a big project, this can add up to an incredible savings
Now more than ever it’s important for modular construction to be adopted as a common approach to construction. Whether it’s for a small business or a large business, a modular construction company can save you time and money, and create a finished project that you’re proud of.
KES Group can help you build the modular home of your dreams while keeping costs low. To find out more, please contact us.