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PRE-FAB HOMES? What the heck is a pre-fab home? 20 years ago and more, it may have meant a trailer that your grandma would live in instead of a retirement community. Double-wide, Triple-wide – and was actually the brunt of many jokes. It wasn’t uncommon to visit a trailer-park with some “high-end” double-wides and sit on the veranda for ice tea. If you haven’t personally done it, someone close to you has.
Let’s fast forward a few years. In many states, the cost to build has gone up substantially as well as materials. Land cost has gone up as well. That leaves the builders with not a lot of options. This may have been the catalyst to the High-End Pre-Fab Home Industry. This industry was created out of an obvious need and has developed into a taylor-made boutique industry that caters to many high end clients across the country and likely the world. Believe it or not, you may be either involved in constructing a Pre-Fab or be living in one in the next 20 years. So it is defiantly in your best interest to know what they are.
In reading one the latest Builder & Developer issues, I was truly amazed at the quality and nature of the pre-fab homes. Many of them are designed by renowned architects from around the world and offer a modular approach to construction and design. Many of them are offered either as a package or possibly on an “a-la-carte” basis. Some offer high end design and materials and others leave it open for the homeowner to choose. The prices range but often time the price is less that the standard building cost and delivers a high quality product with warranties and home-owner customization and confidence.
Because many of these are purchased by landowners, who in turn may hire a General Contractor to oversee the project, the insurance needs may be very different from a standard CGL package. Also, in some cases the manufacturing company may also require that they oversee the installation and then in turn, charge a fee for that. In any case, it needs to be looked at as a separate exposure from a risk management point of view.
There are many websites to visit that may help you conceptualize the Pre-Fab nature, here are a few:
www.popularmechanics.com/home_journal/home_improvement/1605052.html
For more information about Pre-Fab homes, please contact me and I’ll be happy to give you additional information.
I believe that as a builder, you need to consider this as either an alternative building and operational method, incorporate this into your plans for future business growth models or recognize this a competitor in your industry. You choose….I’ll be there for you either way. Hadley Wood
Hadley Wood |
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