The housing crisis the world has experienced in the past decade is a clear call for help in the construction industry. With housing costs rising and millennials- the main market for housing- not being able to afford housing, it has become a necessity for the industry to try reducing its cost. While all industries have been introduced to technology, one that was hesitant to try it was the home building industry. Nonetheless, it seems to be the only way to increase affordability and make the industry more efficient. There are various different ways in which technology is being integrated into the housebuilding industry both for developers as well as the customers. Developers, such as FactoryOS, have been using a remote form of house construction whereby the housing is built in factories and then moved to the location, this has reduced many of the house building costs. On the other hand, consumers are able to use technology for custom home builders that allows them to outsource much of the paperwork and focus on the other factors of their home. In any way, the house building industry is transforming and there is much evidence to it.
So, here are two ways the home building industry is changing with the rise of technology:
- For developers:
Developers are introducing technology in home building to reduce costs of labor and other factors of construction. Building prefabricated homes in factories, as mentioned above is the new home building tech many companies are experimenting with. Using several different stations to build different parts of the home brought together on raised platforms and once finished, delivered to the building site. This factory home building style reduces several costs such as land costs and labor costs as the building is more time-efficient and is not affected by several outdoor hindrances such as weather changes. Many other companies are working towards this same type of construction such as Living Homes. Additionally, 3D printing is another means of home-building tech whereby concrete and building materials simultaneously build homes while other building work goes on.
- For Consumers:
Technology in the home building industry also creates an easier connection between the developer and the consumer. It pushes away the need for the middleman and allows consumers to directly understand and be involved in the construction process. Most of the millennial consumers look for sustainable housing, new technology allows them to choose the housing methods that relate most to their values. Moreover, modern homes are becoming more user-friendly as home building integrates home design tech allowing houses to have preinstalled technological systems such as artificially intelligent assistants. Several brands such as Samsung believe that home design technology is the future for all homes.
As technology advances and more companies are willing to try and experiment with their resources more ways of affordability in home building will rise. It is possible that with the addition of home building tech the market will not collapse. The benefits of the innovation in construction will be several not only to both consumers and developers but also to the environment and the public at large.