"This is the future of the building business, especially in this area," said Douglas Smith of Environmental Construction. He's referring to modular construction, also referred to factory-built homes. According to the article, about three percent of homes in the United States are modular, but that rises to ten percent in the New York/New Jersey region. And, modular homes no longer look like double-wide trailers. One real estate agent said that when he shows a high-end modular home, clients aren't aware it was built in a factory.
Price savings are one reason why builders are turning to modular homes. Homes can be built for $75 to $80 a square foot, instead of $100 to $100 a square foot for homes built on site. Amber Sky Home Mortgage usually renovates existing homes, but the company has bought a lot where the home was destroyed in a fire. They hope to construct a 3,900-foot home on the space for about $300,000, instead of the $400,000 it would otherwise cost.