HousingShortage

Are prefab homes the answer to Colorado’s housing shortage?

Is Prefab the Answer to Colorado’s Housing Shortage?

Colorado is in the middle of an affordable-housing crisis that cities across the state, especially mountain towns, are struggling to solve. According to a 2018 report by government-backed mortgage giant Freddie Mac, “the amount of housing in Colorado that was affordable to people making less than half of the median income had plunged by more than 75% between 2010 and 2016 — one of the biggest decreases in the country.”

It is clear that Colorado needs new housing, but our local building industry is not big enough to meet the supply, nor is it affordable for many. The number of construction and higher-skilled workers like carpenters, plumbers, and electricians are decreasing. With the demand for Colorado homes increasing at a rapid rate and the number of industry workers decreasing, prices of building a new home in Colorado are at an all-time high.

Transitioning from Traditional On-site Construction to Prefab

Prefab homes could be the solution to Colorado’s high demand for affordable housing. Compared to new construction homes, prefab homes are typically more affordable. The total cost of prefab homes can greatly change based on size, amenities, and location. However, buyers can expect to pay anywhere between $170 and $230 per square foot, which often includes the interior finishings and amenities of the home.

According to the United States Census Bureau, prefabs and modular homes account for almost 70% of new homes costing less than $150,000. And in January 2018, the average sale price for a prefab home without land was $93,000, which is 88% less than the average cost for a mountain home in Colorado.

With the cost difference alone, prefab homes and developments can address Colorado’s affordable housing crisis in a revolutionary way.  Prefab homes provide the ability to produce quickly and at scale. Not only is this a solution to Colorado’s shortage of affordable living, but it is increasing the rate at which new homes are completed and ready to be lived in, without compromising their modern design and quality.

The SmartPads Solution

Here at SmartPads, we specialize in creating cutting-edge real estate solutions for Colorado buyers that provide more value at less cost and in a shorter time frame. Through our innovative building strategy, we eliminate more than 50% of construction line items while elevating quality through our phased construction timeline. While our homes are being built in an indoor facility in Utah, site preparation work can be simultaneously done on the land.

Learn more about how SmartPads can fix the Colorado housing shortage. Contact us today.

11 replies
  1. thing g
    thing g says:

    Excellent goods from you, man. I have bear in mind your stuff prior
    to and you are simply too excellent. I actually like what you’ve
    obtained right here, certainly like what you
    are stating and the way through which you assert it.
    You’re making it enjoyable and you still care for to keep it sensible.
    I cant wait to learn much more from you. That is actually a tremendous site.

  2. http://tinyurl.com/
    http://tinyurl.com/ says:

    Hi! I know this is somewhat off topic but I was wondering if you knew where
    I could get a captcha plugin for my comment form?

    I’m using the same blog platform as yours and I’m having difficulty finding one?
    Thanks a lot!

  3. artstic.com
    artstic.com says:

    What i don’t understood is actually how you are not actually a lot more neatly-favored than you may be now.
    You’re so intelligent. You recognize therefore considerably in relation to this topic, made me
    in my view imagine it from a lot of various angles.
    Its like women and men aren’t interested until it’s something to do with Lady gaga!
    Your own stuffs nice. At all times maintain it up!

  4. cbd oil that works 2020
    cbd oil that works 2020 says:

    Woah! I’m really loving the template/theme of this blog.
    It’s simple, yet effective. A lot of times it’s hard to get that “perfect balance” between user friendliness and visual
    appeal. I must say you have done a excellent job with this.
    In addition, the blog loads extremely fast for me on Firefox.
    Superb Blog!

  5. cbd oil that works 2020
    cbd oil that works 2020 says:

    Generally I don’t learn post on blogs, but I wish to say that this write-up
    very compelled me to check out and do it! Your writing taste has been surprised me.
    Thank you, quite great post.

  6. cbd oil that works 2020
    cbd oil that works 2020 says:

    Aw, this was an exceptionally good post. Taking the time and actual effort to create a superb article… but what
    can I say… I put things off a whole lot and never manage to get nearly anything done.

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published.