When planning a new building project, there are a lot of things to consider. Down time, costs, disruption, value, and a host of other things are just many of the deciding factors. Oftentimes these factors can feel overwhelming, and it can make what was supposed to be a simple addition a complicated process.It is important to start with the “why” of the project. For example, let’s say you own a large warehouse. About two thirds of the warehouse floor is used as production space, but the other third isn’t currently being used except for a small portion which is acting as storage. You need some administrative office space and don’t want to seek out a new building for this purpose. Additionally, you’d like to keep some of this storage space, but want to keep things looking organized and clean.Going through that list of concerns above, this process can be a lot of headache and will still require a creative solution. In a situation like this, construction also becomes challenging as it can potentially inhibit facility operations. Having to stop production while construction takes places can be incredibly costly and can be a great disturbance to the facility.Most of the time a construction project of this scale would require lots of people and construction materials coming to the facility. This process can be quite disruptive and may even require workers to be displaced. This often leads to diminished production and morale.There is an easier solution in a new popular method of building called modular construction. All the fabrication takes place through streamlined building practices in an off-site facility. This means that the finished product isn’t subject to weather, labor or material delays. Since all the “building” is taking place in a factory, the portion that needs to be installed onsite happens very quickly. A skilled installation team can complete this process often in hours or days without disturbing the factory’s operation.So in the above example, modular construction can offer a great solution. With the use of a mezzanine you can capitalize on extra space by building upward. On top of the mezzanine, offices and other admin space can be built using modular construction. Underneath the mezzanine still provides ample space for storage needed for the factory.Yes, construction can sometimes feel like a headache, but it doesn’t have to be that way. Modular construction is a cost efficient, unobtrusive way to get projects completed quickly without halting production.
Since the housing bubble burst a few years back, new construction has slowed significantly. While this does not bode particularly well for construction companies, it actually has provided the opportunity for consumers to benefit from some excellent bargains. Using the down market to your advantage as a real estate investor or homebuyer is easier than it may seem. By keeping your eyes out for deals and knowing quality when you see it, you could actually make very smart investments in the under-valued market.In order to stimulate the economy, the Federal Reserve has placed interest rates at record low levels. This means that it is possible to secure record-breakingly low priced loans for a variety of consumer goods, including new construction loans. To build a new home, you do not purchase a traditional mortgage. First, you receive a construction loan. These loans are traditionally doled out in sections that correspond directly to the progress of your build. That way, if something goes awry during the building process, you won’t be stuck with thousands of dollars that you cannot yet afford to spend. Once the construction has been completed, then the bank uses a mortgage to pay back the construction loan.Saving money on interest rates will make both the construction loan and the mortgage you purchase to pay back that loan less expensive. Because the housing market is in a downswing, there are real opportunities to capitalize. In order to make a smart investment, though, you need to do your market research. As you have probably heard by now, when it comes to real estate, the three most important things to consider are location, location, and location. There is no magic formula that can guarantee that you will make money on a particular investment, but there are certain clues that you can rely on to help you gauge a certain area.Take a close look at transportation options in the location you are looking for, and find out if the city or state you live in has any future transportation plans for that location. Look at past real estate transactions near the spot you’re considering to get a sense of the market over the past 5 years. Talk to neighbors or local business owners if you’re brand new to the area to get a sense of how a particular location has changed over the years. By taking these steps, you can get a sense of any changes to the neighborhood or county and make a smart investment decision for you and your family.By selecting a lower priced area that seems to be developing and taking advantage of the super low interest rates that are currently available to the public, you could make a very smart real estate decision. Of course, there are always risks involved with new construction and it is vital that you’re prepared for this so that you don’t end up in a difficult financial situation. Check out new construction options in your area today!