3D-Printed Houses Pave the Way as Home Prices Continue to Rise

Like many sectors of the economy, the future of homebuilding is slowly but surely moving into the hands of modern technology. 

The first object ever believed to be 3D-printed was an eye-wash cup. Soon, people were able to print their own coat hangers, shelves, bowls and even telescopes, according to online forums. In 2014, the technology traveled beyond the Earth's atmosphere when the International Space Station printed the first 3D object in space.

Amid the pandemic, people were even using the state-of-the-art technology to build personal protective equipment, like face shields for frontline workers, when state supplies were running thin.

Now, the technology has begun to revolutionize homebuilding as prices for new homes are on the rise.

Kirk Anderson, the co-director of operations of a 3D house-printing company, believes home-printing technology will take the market by storm.

Anderson, whose company is based in Patchogue in Long Island, told CBS News that printing technology can build 40% of the home's structure.

The remaining 60% –– including the interior details and inner-workings –– would have to be done by workers.

But, he says, by saving those labor costs, homebuilders would save nearly 20-30% of their overall bill that would otherwise be directed to the cost of construction.

The final price-tag for one three-bedroom, 1,400-square-foot home was listed for $299,000, Anderson told CBS. Compared to other homes in the area, Anderon's company's home is on the market for $70,000 lower than the median price of homes in the area, according to the outlet. 

An Austin start-up company is the first to fill an entire neighborhood in Mexico with 3D-printed homes, CBS News reported. The Texas-based construction company works with nonprofits to build low-income housing using its innovative technology. 

As a young idea walking into a $1.3 trillion industry, only time will tell how well 3D printing fares.

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