Prefab Casitas are the Next Affordable Housing Solution

Kerry Tarnow2021-07-29

mobile home#mobile homes#prefab home#mobile home tour#mobile home renovation#single wide tour#single wide renovation#granny flat#boxabl#boxabl casita#accessory dwelling unit#kristina smallhorn#graham stephan#chances mobile home world#double wide#manufactured home#modular home#modular home tour#mobile home park living#mobile home park#new home#housing crisis#real estate prices#affordable home#double wide tour#home tour#housing crash#house hack

923K views|3 years ago

💫 Short Summary

Studio Shed is a Colorado company offering modular structures from 64 to 1000 square feet, aimed at providing alternative housing options to combat rising home prices. Their smallest accessory dwelling unit starts at $30,135 and can be used for various purposes, but additional features like a kitchen and bathroom come at extra cost. These accessory dwelling units, if added to existing properties, have the potential to increase rental stock and provide housing for aging parents, potentially helping to improve housing affordability. Studio Shed offers a modular home option starting at $55,544, with additional costs for the lifestyle package, kitchen and bathroom, and front door. The company is expanding to expensive housing markets in Canada, offering a potential alternative for affordable housing in places with high home prices. This reflects a growing trend of new ideas and options for affordable housing.

✨ Highlights

📊 Transcript

✦

Introduction to Studio Shed and their product offerings

00:00

Studio Shed is a Colorado company launching their products in Canada

They offer structures from 64 to 1000 square feet with a focus on smarter and more flexible living spaces

Their sales have increased by 150% due to the rising demand for alternative housing options

✦

Studio Shed's Signature Series and its potential uses

01:14

The 8x10 Signature Series can be used as a simple storage shed or customized for various lifestyle needs

The Lifestyle package includes insulation, electrical components, interior finishes, and opens up the potential uses for the space

The base price is just over $15,000, but there are options for DIY assembly or professional installation

✦

Introduction to Accessory Dwelling Units (ADUs) from Studio Shed

02:27

ADUs are small structures that can be lived in and are seen as a solution to housing affordability

Adding a secondary dwelling to a property can increase rental stock and provide additional income for homeowners

The entry-level ADU from the Summit series is 14x18 feet, starts at $30,000 for the shell, and requires additional investment to make it livable

✦

Benefits of ADUs for improving housing affordability

04:03

ADUs can be used as rental units to increase housing supply and offset the cost of homeownership

Granny flats provide a downsizing option for aging parents and promote multigenerational living

Adding ADUs to properties can help address the shortage of rental housing in desirable areas

✦

The base price for the studio shed is $31,722, but additional costs for the lifestyle package, kitchen & bathroom, and front door can raise the total price to $62,266.

06:00

The base price for the studio shed is $31,722.

Adding the lifestyle package for a finished interior costs $5,544.

The option with a kitchen and bathroom adds the lifestyle package and allows for different home layouts, costing $30,494.

A front door adds $862 to the total price.

The total price can vary depending on location, with expensive markets like Vancouver, Ottawa, and Toronto having higher costs.

✦

The rise of alternative housing options is being driven by the high cost of traditional homes, with the potential for more affordable housing solutions in the future.

07:00

High home prices in expensive markets like Vancouver are driving interest in alternative housing options.

The studio shed and similar ideas are the beginning of a wave of new affordable housing options.

More companies are likely to capitalize on the growth of alternative housing in the coming years.

00:00 welcome back my name is carrie and today

00:02 i'm looking at a new player in the

00:03 fast-growing backyard modular game

00:05 last week a news article caught my eye

00:07 about a colorado company called

00:09 studio shed who is launching the product

00:11 in canada this summer and has recently

00:13 seen massive growth

00:14 as people continue to look for

00:16 alternative housing options to combat

00:18 rising home prices even though they're

00:20 just now launching in canada they've

00:21 been in business since 2008 and offer

00:23 structures from

00:24 64 square feet up to a thousand square

00:27 feet

00:28 with a vision to inspire new ways to

00:30 think about our lifestyle needs and help

00:32 foster emerging trends of smarter and

00:34 more

00:34 flexible living spaces apparently

00:37 they've been helping foster a lot of

00:38 emerging trends lately because according

00:40 to newswire their sales are up 150

00:43 percent

00:44 over previous years what really got my

00:46 head spinning though was the base price

00:48 of their smallest accessory dwelling

00:50 unit at just

00:51 30 135 dollars what i'm going to do is

00:54 show you their product tell you how i

00:56 think it'll help housing affordability

00:58 then i'm going to price out an adu with

00:59 their designer to see how much these

01:01 things

01:02 actually cost so let's do it

01:06 studio shed has a variety of different

01:08 products starting with the 8x10

01:10 signature series all the way up to the

01:12 big dog the 20 by 50

01:14 summit series adu the signature series

01:17 was their original offering and can be

01:19 used as a simple storage shed

01:20 or decked out with the lifestyle

01:23 interior

01:24 it's described as the backyard shed

01:26 reimagined

01:27 for our modern lives if you want to take

01:29 your space to the next level

01:31 the lifestyle package includes

01:33 insulation in the walls and roof the

01:35 electrical package

01:36 seamless interior wall cladding door

01:38 casing baseboard and interior paint

01:40 and flooring this package opens up the

01:42 possible uses from storage shed

01:45 to home office guest studio backyard

01:47 retreat or

01:48 any number of other spaces that don't

01:50 require a kitchen or a bathroom

01:52 which as you can imagine have been in

01:53 high demand as more people are working

01:55 from home and

01:56 people just need more space with a price

01:58 tag of just over

01:59 fifteen thousand dollars it seems like a

02:01 reasonable option to add more space to a

02:04 home

02:04 before people light up the comments

02:06 about how it can be built for less than

02:07 fifteen thousand

02:09 that goes without saying we know that

02:11 it's understood that you're paying a

02:12 premium

02:13 for convenience because not everyone has

02:15 the skill set to pick a design

02:17 buy the materials and build it from

02:19 scratch for that exact reason they have

02:21 multiple options of how involved the

02:23 setup will be

02:24 you can select the diy option where

02:26 everything shipped to your home and you

02:27 put it together

02:28 or select the option to have it set up

02:30 by a professional installer who takes

02:32 over the minute it arrives at your home

02:33 the signature series has a lot of

02:35 options for potential uses

02:36 sure but i wouldn't consider it

02:38 something you could actually live in

02:40 full time because like i mentioned

02:41 no kitchen no bathroom if you're looking

02:44 for something that can be lived in full

02:46 time

02:46 you're gonna have to reach back in your

02:48 wallet and pull out a few more

02:50 thousand dollars the kitchen and

02:51 bathroom take it to an entirely new

02:53 level

02:53 from a studio to something that is known

02:56 by a bunch

02:57 of different names depending on who you

02:59 talk to they could be known as granny

03:00 flats casitas cottages

03:02 in-law suites or accessory dwelling

03:05 units call it whatever you want it's

03:06 basically a small structure that can be

03:08 lived in

03:09 the entry level adu is from the summit

03:11 series and it's 14 feet by 18 feet 252

03:15 square feet

03:16 and starts at around thirty thousand

03:18 dollars thirty thousand dollars seems

03:19 like a great deal but that doesn't get

03:21 you everything you need to move in and

03:22 start living

03:23 the base price gets you the shell so i'm

03:25 definitely gonna make some additions to

03:27 my design because i'm looking for

03:28 something that's gonna help put a dent

03:29 in the affordability crisis

03:31 and for that we need something that we

03:33 can live in full time

03:36 i think the concept of the accessory

03:38 dwelling unit is a real solution that

03:39 will help make housing more affordable

03:41 in a variety of different ways it's not

03:43 a new idea but the longer prices

03:45 continue to rise the more popular and

03:47 widely accepted it's going to be

03:49 the premise is to add a secondary

03:51 dwelling to an existing property that

03:53 can then be used for a bunch of

03:54 different purposes

03:55 on their website studio shed lists

03:58 rental unit guest house granny flat home

04:00 office personal

04:01 sanctuary and multi-purpose room of

04:04 those the two

04:05 i think have the most potential to help

04:07 improve the affordability of housing are

04:08 the rental unit

04:10 and granny flat first by adding a rental

04:12 unit to a space that would otherwise

04:14 have nothing you're increasing the

04:15 supply and in most desirable areas there

04:17 is

04:18 always a shortage of places to rent in

04:20 my area trying to find a place to rent

04:22 is extremely difficult place is supposed

04:24 to get

04:24 dozens of applications almost

04:26 immediately and to find something you

04:28 almost have to know somebody who knows

04:29 somebody

04:30 and get in before it's posted to avoid

04:32 competition

04:33 adding new rental stock in the form of

04:35 accessory dwelling units in areas that

04:37 would otherwise have nothing

04:38 increases supply lowers demand and in

04:41 theory

04:42 would keep rents from rising as fast on

04:44 the other side of the same scenario

04:46 there are benefits to the homeowner as

04:47 well

04:48 i understand not everyone is going to

04:49 want a second structure on their

04:51 property that they rent out to people

04:52 they don't know

04:53 but i think there are quite a few people

04:55 who would i personally would be very

04:57 interested in having a small adu to rent

04:59 out however my yard just isn't big

05:01 enough

05:01 the benefit to the homeowner is

05:03 additional income coming in every month

05:05 to help

05:05 offset the cost of owning a home also

05:08 known

05:09 as house hacking where i live a one

05:11 bedroom one bathroom rents for a

05:12 thousand to twelve hundred dollars a

05:14 month

05:14 which would definitely help offset the

05:16 cost of ownership the second option they

05:18 listed that i think will help our

05:19 ongoing affordability problem

05:21 is the granny flat if taken literally

05:23 the space could be used for aging

05:25 parents who are looking to downsize but

05:27 don't like some of the other options

05:28 available like a senior's home

05:30 this is something i recently did for

05:31 clients but with a manufactured home

05:33 instead of a studio shed

05:34 and they absolutely love it they bought

05:36 the home put it on their kids property

05:38 and the purchase was a lot more

05:40 affordable for them because they didn't

05:41 have to worry about the cost of the land

05:43 now they share the property the

05:45 maintenance and probably some of the

05:47 costs

05:47 and everyone gets the benefit of having

05:49 family close

05:51 but not too close everyone has their own

05:53 space

05:54 i could see this being a great solution

05:56 for families i talk to a lot of people

05:58 who are looking to downsize and i think

06:00 this is one

06:00 very workable solution for a lot of

06:02 people now the big question is how much

06:04 more do we have to spend in

06:05 options to make the 14 by 18 summit

06:08 series adu

06:09 a livable option that can be used to

06:11 make housing more affordable

06:13 like the scenarios i just mentioned

06:17 studio shed has a design tool on their

06:19 website that you can go on

06:20 select the size of the adu you want

06:22 select the options you need and within a

06:24 couple of minutes you can find out how

06:26 much it's going to cost

06:27 i'm going to price out their most

06:28 affordable summit series adu that can be

06:30 lived in to find out the entry point for

06:33 one of their units

06:34 from there i can always add options or

06:35 add size if i decide i've got more money

06:38 in the budget

06:39 the base price of the 14 by 18 is 30

06:42 135 dollars but like i mentioned that

06:44 doesn't come with a lifestyle package

06:46 kitchen or bathroom so i'm definitely

06:49 going to need to add a few things

06:50 if you want the lifestyle package for a

06:52 finished interior which again includes

06:54 wall and roof insulation electrical

06:56 package seamless wall cladding door

06:58 casing baseboard and interior paint

07:00 and flooring the cost is five thousand

07:02 five hundred and forty four dollars for

07:04 this

07:05 size from there you could technically

07:07 add your own kitchen and bathroom but if

07:09 you're like me and maybe not the

07:10 handiest person on the planet

07:12 you can order it directly from the

07:13 website if you select the option with a

07:15 kitchen and bathroom it automatically

07:17 adds the lifestyle package and you get

07:19 to choose from a few different

07:20 orientations on how you want the home

07:22 laid out

07:22 the kitchen bathroom option comes at a

07:24 price of 30 494 dollars

07:27 then we have to add a front door for 862

07:30 which takes our total price to 62

07:33 266 dollars that number is going to hit

07:36 different depending on where you live

07:38 studio shed is starting their canada

07:39 expansion in three very expensive

07:42 markets

07:42 vancouver ottawa and toronto where 62

07:45 thousand dollars

07:46 probably won't even buy you a parking

07:48 spot for example the average home price

07:50 in vancouver this july according to

07:52 zolo.ca

07:53 it is 1327

07:56 167 so the prospect of being able to add

08:00 a second dwelling for around 60

08:01 000 plus site prep is probably going to

08:04 have people pretty excited

08:05 crazy home prices have opened the door

08:07 for alternative forms of housing to

08:09 flourish

08:10 i think we're at the beginning of a wave

08:11 of new ideas that will change the way

08:13 people look at affordable housing

08:15 and how they live in general as more

08:17 people notice these trends picking up

08:19 steam more and more companies will try

08:20 and capitalize on that growth so i think

08:22 we're in for an exciting couple years

08:24 with potentially a lot more new

08:26 affordable housing options that's all

08:28 i've got for today if you like

08:29 manufactured home videos

08:31 make sure to subscribe to my channel

08:32 because i've got new ones coming out

08:34 every single week

08:35 thanks for watching we'll see in the

08:36 next one

08:59 you

💫 FAQs about This YouTube Video

1. What is Studio Shed and what kind of products do they offer?

Studio Shed is a Colorado company that offers modular structures for various uses, ranging from simple storage sheds to fully customized living spaces. Their products are designed to create smarter and more flexible living spaces to combat rising home prices.

2. How can a Studio Shed modular living space contribute to housing affordability?

Studio Shed's modular living spaces, known as accessory dwelling units (ADUs), can provide a cost-effective solution to housing needs by offering additional living space without the high cost of traditional home expansions or purchases.

3. What are the potential uses of Studio Shed's accessory dwelling units (ADUs)?

Studio Shed's ADUs can be used for various purposes, including as a rental unit, guest house, home office, personal sanctuary, or multi-purpose room. They also have the potential to address the affordability of housing by creating additional living space.

4. How does adding a rental unit through Studio Shed's ADUs contribute to housing affordability?

Adding a rental unit through Studio Shed's ADUs increases the housing supply and can help lower rental costs, making it more affordable for tenants. Homeowners can also benefit from additional rental income to offset the cost of homeownership.

5. In what ways can Studio Shed's accessory dwelling units (ADUs) help improve housing affordability?

Studio Shed's ADUs can help improve housing affordability by providing a cost-effective solution for adding living space, creating rental opportunities, and offering flexible housing options without the high cost of traditional home expansions or purchases.

6. What is the cost of adding a finished interior lifestyle package to the Studio Shed?

The cost of adding a finished interior lifestyle package to the Studio Shed is $5,544, which includes wall and roof insulation, electrical package, seamless wall cladding, door casing, baseboard, interior paint, and flooring.

7. How much does the Studio Shed with a kitchen and bathroom option cost?

The Studio Shed with a kitchen and bathroom option costs $30,494.

8. What is the total cost of the Studio Shed with added options?

The total cost of the Studio Shed with added options, including the finished interior lifestyle package, kitchen and bathroom option, and a front door, is $62,266.

9. In which Canadian markets is Studio Shed starting their expansion?

Studio Shed is starting their Canada expansion in Vancouver, Ottawa, and Toronto.

10. What is the potential impact of the Studio Shed's affordable housing option in expensive markets like Vancouver?

The potential impact is significant, given the high cost of housing in expensive markets like Vancouver, where the average home price is $1,327,167.

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