New Home Construction Trends
With the drastic downturn of activity in new construction, builders are becoming much more savvy in the ways of home building, and new homebuyers are receptive to the changes. Since the bottom fell out of the real estate market last year, builders have had to become more creative in order to survive. New construction trends are giving new home construction a shot in the arm. Builders have basically been re-inventing themselves and becoming more clever in their craftsmanship to draw a new audience.
Federal stimulus dollars and historically low mortgage rates definitely generated some activity in the real estate market earlier this year. Many have opted, however, to purchase new homes instead of existing homes. This year, it has often been cheaper to build than to buy an existing home. The reason is due to significantly reduced costs in construction materials. In addition, many cities across the nation have been waiving or delaying impact fees to builders.
Home builders are noticing that women often have the last say in the purchase of a home, so some new innovations new home builders are incorporating are more storage space, larger laundry rooms, security systems, higher quality construction and larger kitchens. Men, on the other hand, tend to look for larger garages with a work area, space for a home theater system and large TV, along with separate tubs and shower stalls.
With building trends going “green” and people becoming more health conscious, builders are also incorporating energy efficiencies into many new homes, including using products that emit less gasses after the home is completed. Heating and cooling costs are taken into consideration and more cost-efficient products are being installed in new homes. Flexible floor plans, modifications to enable senior citizens to navigate the home safely, outdoor rooms and even Feng Shui have been used in the designing of new homes.
In many development areas where you previously had only two or three designs to choose from, builders are offering the sky’s the limit in order to draw new homebuyers. Technology is making its footprint into new home construction, too.
Considered before the home is built, wiring is being configured so that the new owners can have access to state-of-the-art security systems with video pick-up, high speed data and high-tech cable/satellite TV options are all becoming much more common. Systems with remote controls from turning on lights to initiating a security system are also being requested by new homebuyers.
Home envelope products for roofing, insulation, doors and windows are all being considered for safety and energy-efficiency when building a new home, along with solar and wind power. Quality appliance choices, shade and the orientation of where the home sits on the property are also factors in the new building trends.
Existing homeowners have responded to the down market, too. Instead of selling, many are adding space to their current homes and incorporating new trends and technology in the process. Combine new constructions trends with homeowners who are adding innovative space, and you’ve got a great marriage with a win-win consensus.
Whether it’s constructing a new innovative home or building out an existing home with new gadgets, builders are finding work in the current recession and expect the new building trends to grow the homeconstruction market.