Being a homeowner is sometimes seen as one of the symbols of success. You have your life together and are doing well enough to buy property. But for many people, your own home can seem unattainable because of rising living and housing costs.

Average house prices are increasing, demand is soaring, and pushing first home buyers out of the market. Investors are creating supply issues as they snap up properties, and local governments are too slow in approving building consents or section subdividing. Owning your first home is no longer a rite of passage, but something that only those with generational wealth can do from a young age.

Fortunately, there are other housing options—namely prefabricated homes and transportable homes. These ideas might have been frowned upon at one time, with terms like “cheap” and “poor quality” being associated with them, but things are changing.

A growing demand for quick-to-build, low cost and hassle-free living options have given rise to a new group of homes that potential buyers are flocking to. Traditional homes come with many cons, such as extensive construction timelines, high costs, and heavy dependence on labour.

While constructing traditional homes, owners usually account for some amount of overspending because of things like weather delays to delivery dates, buying extra construction materials to allow for human error, or professional charges for constant changes in design and layout.

Prefab homes and transportable homes take these concerns out of the equation. For instance, since both prefab homes and transportable homes are made in indoor controlled environments like factories or workshops there are lower chances of overshooting budgets.

Prefabricated homes

As the name suggests, prefabricated homes are structures that are produced earlier in stages off-site and assembled together at the final location. They are built in standard sections that are easy to transport and put together and the entire structure is permanently fixed to a solid foundation at the location of the home.

Early avatars of these homes weren’t pretty—the structures were boxy and drab-looking. But developments in design technology and construction capabilities have meant that these homes now have more flexibility when it comes to functionality, style and accommodating the comforts of modern living. Since these homes are attached to foundations, they are strong enough to handle more elaborate and specific layouts and designs.

Prefabricated homes are finding a lot of favour in communities that are struggling with expensive housing markets. Many local governments are turning to these homes to create affordable, low-income housing units that provides the basic amenities without compromising on quality. These houses can also be spruced up to create luxury versions that use superior-quality materials. In fact, space entrepreneur Elon Musk has moved out of his California mansions and is currently staying a 375-square-foot prefab home in Texas town.

Transportable homes

Don’t let the name fool you. Transportable homes aren’t homes on wheels. They’re actually structures that can be transported. In this case, the homes are constructed entirely in a warehouse or factory before being delivered to the location site. There is no assembling required. Once the structure is ready it is put onto the back of a flatbed lorry and driven to the final destination.

These houses aren’t attached to the foundation, and can be easily moved to another location. That is why they are also known as relocatable homes. These structures are a great option for those seeking temporary accommodation that isn’t too expensive. Imagine being able to transport your whole home every time you want to shift without the actual hassles of packing and moving. The impermanent nature of these homes can affect the design, though. The structures are usually simple rectangular buildings since those are the easiest to transport on trucks and can be installed on slides or footers wherever required. These means that the layouts are often quite straightforward.

Transportable homes allow you to have a home the way you’d want it wherever you want it. They are especially useful for those who live in more remote locations and don’t have easy access to quality materials and services. The homes can be ordered, delivered and assembled in a fraction of the time it would take to construct a traditional home.