Modulars: The Perfect Option For Affordable Housing

The current economic climate is causing financial stress and hardship on Australian families.  

The cost of living has increased, so have interest rates and therefore mortgages. Combined with demand of rental properties and increase of mortgages, renters are paying more than ever. We see small wins like the Reserve Bank today keeping rates at 4.1%, however this doesn’t help the back pockets of everyday Australians trying to maintain a healthy work-life balance.  

“The time efficiency, sustainability and affordability factors make prefabricated modulars the ideal option for so many.”

John Fitzgibbon

As costs increase and belts tighten, more and more Australians are becoming savvy and looking at other ways to live affordably. Some are selling to put money in the bank, then renting – which we know is excessively expensive at present. Others are becoming creative with their plans. Families and friends are looking for a more communal, cost-effective option – such as building second or even third dwellings on their properties. Think granny flat, bungalow, converted shed or cabin-style set ups; dwellings that ooze the terms modular, built-offsite, prefabrication! Others are using the structures to offer holiday lets to assist paying for their mortgage and other expenses.  

Unfortunately, councils are full to the brim with planning permit applications for these smaller dwellings. The system is overwhelmed causing applications to take over a year to be approved in some councils according to the Good Decisions Made Faster press release by the Labor Government.  

Inevitably, applicants are unable to achieve their money-saving or making goals – or are building without permits and ignoring protocol – until now.  

The Labor Government has announced that second dwellings under 60 square metres will no longer require a planning permit – reducing time, increasing cashflow and increasing construction demand.  

CLOS sees this as not just a fantastic opportunity for property owners, but also an opportunity for sustainable modulars to become front of mind and a way of the future.  

CLOS CEO, John Fitzgibbon, says "Removing the need for permits will encourage property owners to look at options for their second dwelling – with time already passed for applications, CLOS modulars are a fantastic, time-effective option for clients to look into prefabricated homes. We have the ability to provide a modular in 8 weeks. The perfect scenario is parents of adult children (with a well sized property) purchasing a CLOS modular and having it delivered within 8 weeks. The parents would be able to move into the modular – a private, architecturally designed dwelling, and be able to share the expenses with their family, reducing costs. Or if you have space on a convenient, picturesque block – add the second dwelling and use it as an AirBNB to help pay the mortgage. The time efficiency, sustainability and affordability factors make prefabricated modulars the ideal option for so many.”

Read more in the Built Offsite publication here.