People looking to downsize are buying smaller and well-designed prefabricated modular homes.
The Sacramento Bee reports that aging Baby Boomers account for three-fourths of modular home sales.
Prefabs offer speedy and versatile construction. The homes are built in a factory, either as block-like units or panels, and then fitted together on site. The entire process can take two to three months less than building a conventional home, which saves construction costs and building material.
Though the homes are smaller, with as little as 600 square feet, prefab homes are loaded with green technology and products that save owners money and energy. The homes can also serve as vacation residences.
Sheri Koones, author of “Prefabulous Small Houses”, isn’t surprised that seniors represent the biggest market for high-end modular homes, she said. “It’s faster. You know what you’re going to get. You don’t want to wait.” But modular doesn’t necessarily mean cheaper. Of the small homes featured in Koones’ new book, several projects approached seven figures. Blu Homes’ best-selling 2,000-square-foot model lists for $950,000.