London-based modular homes developer, Lanre Mullins Abudu looks set to challenge the property market and reduce the huge housing deficit in the world with modular homes as he launches Magnum Opus Homes.
The UK has a housing crisis: in recent decades the cost of buying a home has risen faster than wages, leaving many workers priced out of the market. Affordable social housing has become scarcer, leaving many households with no choice but to rent – often paying more than they would for a mortgage. Available statistics suggests that at least 340,000 homes needs to be built per year – and of that at least 100,000 good quality social rented homes – to meet this current demand.
As a panacea, Magnum Opus Homes is set to deliver modular homes to as many people as possible, combining prefabricated homes with modern homeownership. ”I created magnum opus homes to help with the Uk housing crisis. Also saw a gap in the market with modular homes,” said Lanre Mullins Abudu.
Magnum Opus Homes will deliver the following to potential homeowners:
- More affordable to build.
- Shorter build times.
- No home inspections needed — they’re done at the factory.
- They can be customized.
- Typically built with environmentally-friendly materials and practices.
- Built to be more energy efficient.
- No weather-related building delays.
Continuing, Abudu said: ”The problem with the development of normal houses is that it can take between six month to a year for houses to be finished. With modular the homes it can take six weeks. Its more cost-effective and can help people get on the property ladder.” This implies that prospective homeowners will have considerably lesser time to wait before owning their houses, complemented by the fact that this will be without breaking the bank due to the relative affordability of constructing non-modular, on-site homes.
Contrary to popular misconception, modular homes do not all look alike. It’s a fact Abudu knows about. ”Most modular homes are not eye catching. I am working close with some of the top designers to have more of an easy-on-the-eye type of modular homes”, he said. This implies that Modular homes have no design limitations. Homeowners can liaise with the Magnum Opus Home to create any style of modular home they wish and embody their dream design style.