Buying vs. Hiring Modular Buildings: How to Make the Right Choice for Your Business

Many sectors are increasingly choosing modular buildings to provide quality workspaces. But how do you determine whether to buy or hire modular buildings? The decision depends on your business's unique needs.

A variety of modular buildings with different layouts are available for both purchase and hire. Each option has its benefits, and companies must select the one that best aligns with their business requirements.

Key considerations include whether the building is a long-term or short-term solution, your budget, and your commitment to sustainability.

It's a common misconception that modular buildings are temporary structures. In reality, they can last over 35 years, offering both long-term and short-term spacing solutions.

The type of spacing solution you need is a crucial indicator of whether you should buy or hire modular buildings.

Purchase

If you're seeking a long-term solution that will serve your business for decades, consider purchasing a modular building. While buying involves higher upfront costs, it offers financial benefits over time. Ownership eliminates monthly lease payments, providing long-term savings.

Hire

For short-term, temporary solutions, leasing modular buildings is an excellent option. Hiring offers incredible flexibility. Whether you need the building for a few months or require immediate installation, leasing can meet these needs quickly.

Modular building hire can address various short-term space needs:

If you're uncertain about the duration you'll need extra space or concerned about outgrowing the building, hiring offers lower commitment and financial risk than buying. Lease terms can be extended if you require the space longer than expected.

Cost is 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, offering a range of price points to suit different budgets.

For strict budgets, consider used buildings for sale or modular buildings for lease. Used buildings are available at a lower price than new ones and can be renovated to fit your business needs, offering a cost-effective alternative to new construction.

Leasing modular buildings avoids the capital outlay of purchasing and the hidden costs and taxes associated with ownership. Fixed hire rates help you track and control expenditures, making allocating resources towards other business needs easier.

Sustainability is increasingly important for businesses. A study by PwC found that 77% of people consider a company's environmental record when deciding to buy from them.

Improving your business's sustainability credentials is vital, and modular buildings offer environmentally friendly workspaces. Temporary building hire enhances sustainability further by supporting a circular economy, defined as "a model of production and consumption, which involves sharing, leasing, reusing, repairing and recycling" to extend the product lifecycle.

Modular buildings are sustainable because:

By hiring modular buildings, you contribute to the circular economy, maximising the building's lifespan through reuse and repurposing.

Modular and temporary building hire offers bespoke customisation options for designing ideal workspaces. This adaptability makes modular buildings suitable for various sectors, including:

If hiring a modular building is the best solution for your business, consider Yorkshire Hire Centre. With over 20 years of experience providing nationwide modular building hire, we ensure top-quality buildings through our association with Paragon Space, a leading modular building manufacturer based in Hull.

We make hiring modular buildings easy. Contact our friendly team today to learn more and start your hiring journey.