The home building market continues to shift with changing demographics and economic factors. It’s important to know who is planning to buy a new home this year, and what they’re going to be looking for in 2019. Here are five trends we’re excited about in the next twelve months:
- Shift to smaller homes
- Designing for lower maintenance
- Health and comfort of homes
- Safety and protection of homes
- Affordability of housing
Shift to Smaller Homes
With millennials and baby boomers shaping the housing market in many ways, one of the most notable trends is a demand for low maintenance homes. With mortgage rates expected to continue rising in 2019, millennials aren’t budgeting for additional upkeep expenses in their new homes.
And while boomers continue to be an active generation, they are aging and regular maintenance, both indoors and out, may not be as enjoyable as it once was. Boomers want the ability to age in place, meaning they can stay in the same home as they get older. However, this means they need a home that they can maintain even in their later years. Builders should keep this growing trend in mind as they plan their 2019 home designs.
Health and Comfort of Homes
Health and comfort are broad terms. The benefit to homebuilders is that it’s easy to identify specific ‘healthy home’ elements of a new build and promote them as selling features. When looking for ways to incorporate health and comfort into new home designs, consider the following:
- Materials that don’t degrade air quality
- Sound insulation from both indoor and outdoor noise
- Generous access to daylight, supplemented with electric lighting as needed
- Energy-efficient appliances, mechanical systems, and insulation systems to offset high energy costs
- Properly engineered heating, cooling and dehumidification systems
If you’re designing specifically with the millennial home buyer in mind, remember that they are willing to pay more for specialty features that add a unique touch to their new home. These could include a playroom for children, work out room, home theater or even a wine cellar.
Safety and Protection of Homes
It’s expected that mortgage rates will continue to rise in 2019. This, in turn, will push the market towards the buyer, since increased costs will drive down demand in the market for existing homes.
Among new residential construction, developers are still faced with more advanced building codes as well as increased costs of materials and labor shortages in the industry. To make sure housing stays affordable and attractive in a more discerning buyer’s market, builders need to be cost and time-conscious and consider alternatives to traditional building systems that can more cost-effectively meet the demands of buyers today.
Materials like insulated concrete forms and the Bautex Wall System are a great way to meet the need for energy efficient, comfortable, safe and healthy homes while keeping costs under control. Not only are these systems an affordable choice during construction, but they are also significantly higher performing and longer lasting than conventional homes, which will help homeowners reduce the cost of owning and maintaining their home into the future.
For more information on trends in homebuilding, please visit the Bautex Systems blog or Facebook page.