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Boxabl Now Has Nearly $10 Billion in Reservations

Updated: Oct 16, 2022

Boxabl has nearly tripled the value of its reservations since the launch of its Equity Crowdfunding rounds.

Boxabl’s raise might be closing out, but its momentum is seemingly just getting started. The company recently updated its reservation numbers, and it seems the company now has nearly $10 billion in reservations. In its latest release, the company announced it has 150,000 casita reservations with an updated price point of $60,000. The company has such high demand they increased prices to deliver to those who want them the most.

Boxabl Pricing

This makes sense because even with their current capacity to produce 4–8 Boxabls per day, you’re looking at 50+ years before they are able to deliver the entire waitlist. Since it’s clear demand is only speeding up, a price hike is only logical. If there’s massive demand and limited supply, then basic economics is in favor of increasing prices to help equalize supply and demand. Despite the price increase, demand hasn’t seemingly slowed at all.

This is a pretty interesting look at the price elasticity of a Boxabl in the current market. As housing prices continue to stay at record highs and supply chain issues persist, it seems that many companies will gladly pay the increased prices for the convenience and timeliness. A Casita sits at about 375 square feet, which means you’re paying about $160 per square foot.

Comparing Boxabl vs Buying a Home or Building a Home

When compared to traditional pre-built options, you’re getting cheaper shipping costs, faster delivery, and a more convenient setup than alternatives. Once you average this all out, it probably comes out to about $200 per square foot, but this is still on the lower end of modern home-building costs. Rocket Morgage puts the current median price per square foot in the U.S. at $222, with more expensive markets going as high as $329 in Miami and so on. This means it’s cheaper than buying a used home or other pre-built options.

The other option here is comparing this to just building a new home because many of these customers are people building company towns. However, these projects can take months and years, and might be far out so consistent supply deliveries might not be the best. Nonetheless, the price can be range significantly. On the cheap end, you’re looking at $100 in cheaper markets like Kentucky, Tennessee, Texas, and similar areas. However, for semi-luxury homes, or more expensive markets, the lower end is $175 to well over $200+. This means that it can be cheaper, but companies are happily paying for the convenience and timeliness.

Boxabl Valuation

The next thing to note is the investment side of things. Boxabl is currently closing out their equity crowdfunding rounds, and an ongoing criticism was its valuation. While it was admittedly a bit pricey, it seems increasingly obvious that the momentum isn’t slowing down.

With over $9 billion in reservations, they have a list of people to sell to for the foreseeable future, and now they have even better margins as they work towards increased efficiency and automation. This list of 150,000 reservations is nearly double their initial list from the number at the launch of their campaign (and over double the value) so as that list continually increases, it seems more apparent the premium might have been worth it.

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