Buying vs Hiring Modular Buildings: How to make the right choice for your business?

9/02/2024

Many sectors are choosing modular buildings to provide quality workspaces. But how do you know whether to buy or hire modular buildings? Deciding whether to buy or hire depends on your business’s unique needs. 

Many styles of buildings with different layouts are available for purchase or hire. Both buying and hiring options have benefits. However, companies must select whichever makes the most sense for their business needs. Key considerations should include whether the building is a long-term or short-term solution, your budget, and your commitment to sustainability. 

What type of solution are you looking for?

It is a common misconception that modular buildings are temporary structures, but they can last well over 35 years. Because of this longevity, modular buildings now offer long-term as well as short-term spacing solutions. 

The type of spacing solution you are looking for can be a fantastic indicator of whether you should buy or hire modular buildings.

Purchase

If you are looking for a long-term solution that will serve your business for decades, consider purchasing a modular building. While buying a modular building involves more upfront costs, there are more financial benefits later down the line. This is because you own the building at the end of the day and don’t have to make monthly lease payments. 

Hire

However, if you are looking for a short-term, temporary solution, modular buildings for lease are a brilliant option. Hiring is incredibly flexible. If you only need the building for a few months, this can be arranged. If you have a short timeline and need a building as soon as possible, installation can be scheduled and carried out swiftly. 

Modular building hire can provide extra short-term space to respond to many scenarios:

  • Modular buildings for lease can provide spacing solutions for businesses affected by seasonality.

  • They can offer an effective workspace while refurbishments are being carried out on main buildings.

  • Modular buildings can create temporary sales or retail facilities. 

Modular buildings for lease can also provide an option if you do not know how long you need extra facilities or are worried about your business outgrowing the building. Hiring a modular building is a lower commitment and comes with lesser financial risk than outright buying. Modular buildings can be hired as a short or long-term solution, so your lease can be extended if you require extra space for longer than expected.

Cost-effective spacing

Cost is understandably a significant factor when deciding whether to buy or hire a modular building. Both new and used modular buildings are available for hire and sale. This availability offers a variety of price points, making modular buildings a viable option for more and more businesses, all with different budgets. 

If you have a strict budget, it would be worth looking into used buildings for sale or modular buildings for lease. 

Used buildings are available for sale at a lower price than new ones, and they still have plenty of life left. Preloved buildings can also be renovated to fit your business needs, making them a cost-effective alternative to building new. 

If you hire modular buildings, you avoid spending the capital outlay associated with buying a building. You do not need to pay for any hidden costs and taxes connected to building ownership. You also benefit from fixed hire rates, which allow you to track and control expenditures. This makes allocating your budget and resources towards other business needs easier.

Environmentally-friendly modular buildings

Sustainability in businesses is becoming increasingly important. So much so, that a study by PwC found that 77% of people are influenced by a company’s environmental record when deciding to buy from them. 

Therefore, improving your business's sustainability credentials is more vital than ever. You can do this with environmentally friendly workspaces. Modular buildings are extremely sustainable, and temporary building hire is even more so. 

Modular buildings are sustainable because:

  • Factory construction ensures waste is reduced, reused and recycled.

  • Reduced transportation time minimises CO2 emissions.

  • High-quality insulation, advanced sealing techniques and HVAC systems reduce energy usage.

If you hire modular buildings, you further enhance sustainability by contributing to a circular economy. The circular economy is defined as “a model of production and consumption, which involves sharing, leasing, reusing, repairing and recycling” to extend the product lifecycle. 

Choosing to be part of a circular economy and hiring a modular building maximises its lifespan because the building is reused and given a new purpose every time it is leased. These buildings are incredibly adaptable. Modular buildings for lease can be redesigned to ensure that no matter your business requirement, they provide a workspace with everything you need.

What businesses are choosing to hire modular buildings?

Modular and temporary building hire offers a range of bespoke customisation options for designing your ideal workspace. This adaptability means that companies across a range of sectors are choosing to hire modular buildings for their business needs, including:

Corporate: Modern modular offices provide motivating workspaces for staff. They can be designed to be open-plan and collaborative or feature private meeting rooms.

Construction: Modular buildings can provide construction site staff with warm, dry spaces with the necessary facilities for staff comfort.

Security: Anti-vandal modular buildings protect assets and act as a deterrent to theft and vandalism.

Health and Leisure: Modular buildings can include showers, toilets and changing facilities for sports and leisure centres.

Modular buildings for lease from Yorkshire Hire Centre

If you have decided that hiring a modular building is the best spacing solution for your business, then look no further. Yorkshire Hire Centre has over 20 years of experience providing nationwide modular building hire.

We are built on Paragon Space, a leading modular building manufacturer based in Hull, so you can guarantee top-quality buildings. 
We make modular building hire easy. Contact our friendly team today to find out more and begin your hiring journey.