Move over tiny homes, you've got some competition. What's the latest trend rounding the innovation corner of the housing industry? 3D printed homes.
According to REALTOR® Magazine, the first livable 3D printed home—a four-bedroom, 1,022-square-foot property—was recently constructed in France for about $230,000, reportedly 20 percent more affordable than a similar home constructed with traditional procedures and materials.
Additionally, the Eindhoven University of Technology in the Netherlands has a five-year plan to build a community of 3D printed homes that will be available for rent, reports HuffPost. These will range from single-story bungalows to multi-level homes in the Meerhoven region of Eindhoven. The first home is set to be completed in mid-2019.
While various countries overseas are already taking advantage of the relatively affordable technology, 3D printed homes are well on their way to the U.S., and could have a significant impact on the nation's real estate industry.
In the U.S., construction company Sunconomy partnered with Russian 3D printer company Apis Cor. in 2016 to build homes in just a day, according to 3Dprint.com. Additionally, an Austin-based startup called ICON also builds homes (with a maximum of 800 square feet) in 24 hours, with only a $4,000 price tag for the home's structure, according to Wired. The Census Bureau reports that a home in the U.S. takes, on average, six-and-a-half months to build.
Other benefits? As 3D printers become more popular, the cost of using these machines will drop lower. According to Statista, the projected size of the global market for 3D printing, materials and any associated services in 2025 is $49.1 billion, compared to just $5.9 billion in 2015. 3D homes could also offer a more affordable price tag, as labor and materials required for traditional properties can be costly.
Lower construction costs and a much shorter time frame? 3D printed homes could be the solution the real estate market has been seeking. These 3D homes could prove beneficial in areas facing a housing crisis, filling the increasing demand for new-construction homes in entry-level price points. ICON is looking to partner with FEMA and Fannie Mae to print homes for disadvantaged families and to alleviate the housing crisis. Sunconomy is also looking to help those who face housing challenges.
Would you live in a 3D printed home?