Real Estate Term of the Day: Factory-Built Home

Real Estate Term of the Day: Factory Built Home

FACTORY-BUILT HOME – a general category of housing that is produced largely in a factory (Barron’s Dictionary of Real Estate Terms)

Other types of factory-built homes include:

  1. Manufactured homes – a dwelling unit manufactured in a factory and designed to be transported to a site and semipermanently attached (Barron’s Dictionary of Real Estate Terms)
  2. Modular homes or prefabricated homes – a factory-built home that complies with local building codes (Barron’ Dictionary of Real EstateTerms)

A recent article by Denver Post titled “Green buyers find prefab fabulous” many buyers are seeing factory-built homes as a great option for “Green” homes.  Stating that “prefab homes — custom homes that their builders insist are light-years beyond “mobile homes” — are inherently more green than traditional houses thanks to waste reduction during the building process. Plus, prefab builders can incorporate the latest green advances directly into plans at the buyer’s whim, giving earth-conscious home owners another way to shrink their carbon footprint.  Hollis Hunt, special-projects manager for Loveland-based Northstar Homes, said people incorrectly assume going green means a sizable price tag.  He says homebuyers can make choices that won’t break the bank.  “At some point in the decision process, green features will start to compete with luxury items,” Hunt said.  Forgo that flashy granite counter, he suggests, and go with a paper-stone countertop made of recycled paper and non-petroleum-based resin instead.”

See also: Business Week’s slideshow titled: Putting the “Fab” in Prefab

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