A lack of information about today’s modular buildings can lead to a lot of confusion, misconceptions and missed opportunities regarding a sustainable, cost-effective solution. Vanguard Modular’s Senior Vice President of Marketing Services, Mark Meyers, joined the Built Modular podcast to dispel myths and provide answers that people should know when it comes to modular construction.
While many people might think the typical way of obtaining temporary modular construction is to lease a building, Meyers noted many custom and permanent modular building projects are purchased. An even lesser-known, but viable option for people is “lease to own.”
“This option is a fantastic way to reduce the amount of initial capital that needs to be put out for a project and still end up owning the building,” Meyers said.
What about costs for the various options for a typical new modular building project? The base leasing price ranges from $1-$1.50 per square foot per month. This pricing does not include delivery, on-site assembly or project completion tear-down costs.
“Customized modular projects tend to be purchases,” Meyers said.
Those ranges can vary depending on the myriad factors of the design needs. Meyers provided a ballpark purchase price range between $100-$300 per square foot, not including delivery and installation.
Meyers said modular construction shares many similarities with traditional building processes. However, unlike conventional construction projects, modular buildings are built in sections off-site and delivered to the site destination and then assembled. And one of the things Vanguard Modular does is keep track of each state’s building codes and regulations.
“All of those calculations are carefully put together and engineered in the design of the building to ensure that the structure does meet those codes before those buildings are moved out from the manufacturing facility and installed on the site,” Meyers said.