The first step to efficient collaboration is having strong leadership who will support and lead collaborative efforts. Not only can leadership lead these efforts; but they can also address issues, review progress, and observe teams to see how they are working together to complete the project. Strong leadership is essential to every company, and by having strong leadership, you can be confident that through collaboration, your project will get done in a timely and efficient way.
The Wall Street Journal had an interesting article on Friday, June 21 describing how Fannie Mae and Freddie Mac, which back about half of the new mortgages in the U.S., are rolling out financing programs for factory built homes. June is National Homeownership Month, and the hope of this new financing program is that more lower- and middle-class Americans can become homeowners. The main manufacturer of these homes in the U.S. is Clayton Homes, owned by Berkshire Hathaway. But there are many creative designers, architects and builders who are currently involved in prefabrication ventures, and Home Builder Digest lists nineteen of them in the article “The Best Prefab/Modular Home Builders in the United States.” The number of manufactured homes in the U.S. has dropped from close to 400,000 in the late 1990s to just under 100,000 last year. This number represents almost 10% of new single-family home starts, according to the industry group Manufactured Housing Institute. MHI cites an independent research study that found 90% of people are satisfied with their manufactured homes, and 87% would recommend a manufactured home to others.
The focus at eVolve MEP is with mechanical and electrical contractors in the commercial space, enabling prefabrication across both of these trades to help lower costs and improve on-time delivery. There are other challenges faced in the residential side of the prefabrication business. Those relate to financing and historical perceptions of flawed finished products compared to stick-built homes. The article pointed out that Fannie Mae and Freddie Mac require eligible homes to have pitched roofs and other characteristics to make them indistinguishable from site-built homes.
The WSJ article closed with quotes from buyers who used the new Fannie Mae program to close their loan. One remarked, “Clayton homes used to be so trailer-looking. It didn’t have that look about it anymore.” Take a look around any commercial project, and you will see prefabrication all around you; these days it doesn’t look any different.
Let us know your thoughts on how you are using prefabrication and if any of your clients or prospects have concerns with your approach. Let us know how we can help you make the move to prefab by contacting eVolve MEP for a short discovery call to learn more.
Don’t forget to share this post!
eVolveMEP, a leading systems integrator for the architecture, engineering, construction, and manufacturing industries, announced today its popular MEP Force conference is returning to an in person event in 2022 to once again provide attendees with valuable hands on engagement, learning, and multiple networking opportunities with friends, food, and fun. This premier event enables MEP industry leaders to learn from their peers about new technology trends in fabrication, prefabrication, Industrialized Construction, Design for Manufacture and Assembly (DfMA), and more.
Scaling your business starts with having a solid foundation. Maintaining an effective team is an important part of scaling your business, because in a way, it is like free advertising for your company. If your team enjoys their workplace, they will spread the word about where they work and the opportunities it offers.