Asked to envision
what the typical hew home of the future will be like, most home builders
predict an increased focus on high-quality and high-end amenities including
maintenance-free materials and automated systems that incorporate greater
technology, the National Association of Home Builders reported during
the International Builders' Show in Las Vegas Jan. 21-24.
One thing that
builders see happening is a stabilization of new-home size, with few predicting
they'll be building substantially larger homes during the next 5-10 years.
Instead, builders are evenly divided in saying they'll either be building
a slightly larger product than they are right now or a somewhat smaller
home than the current 2,300 sq. ft. median.
The new focus
is going to be on quality rather than quantity, according to NAHB surveys.
Builders see home buyers increasingly demanding energy-efficient designs,
wiring for high-speed Internet access, automated home security and climate-control
systems. There's also a growing emphasis on high-quality finishes and
materials that minimize the time it takes to keep homes clean and functioning
properly. These features are expected to become fairly standard in new
homes of all sizes.
However, while
square footage may no longer be expanding, the volume of home is certainly
on its way up. More than 50 percent of homes built last year had 9-ft
or higher ceilings.
NAHB consumer
surveys confirm that people who purchased a home in 2002 or who plan to
purchase a home in the next two years are looking for many of the same
traditionally upscale features, whether they are in the mid- or higher
prices ranges of the marketplace. For example, most respondents identified
a fireplace, a built-in microwave, a walk-in pantry, an island work area
in the kitchen and a laundry room as "must haves" and features
such as a separate showers and white bathroom fixtures as "preferred"
items. Other items that buyers across the market deemed "necessary"
extended to eat-in table space in the kitchen and French doors.
The same respondents
identified their top reasons for moving as the need for a larger home
(17.3 percent), the desire for a better quality home (16.3 percent) and
a new job or job transfer (12.4 percent). The top three reasons buyers
identified for the home they chose or plan to buy include room layout/design
(39.2 percent), financial considerations (13.5 percent) and the size of
the new home (9.5 percent).
In terms of
what buyers are looking for in a new neighborhood, most respondents identified
the look/design of that neighborhood (24.2 percent) well above the neighborhood's
proximity to their jobs (13.1 percent). Nearly 22 percent said their choice
of neighborhood was mostly due to the new house itself.
Because home
buyer preferences ten to be dictate by each family's lifestyle, demographic
data that reveals a shirt in the size and composition of households over
the years can be extremely useful for determining the future of home designs.
Census Bureau data indicates a growing percentage of non-traditional households,
such as those composed of married couples without children, single-person
households and non-family households.
Between 1970
and 2000, the percentage of households composed of a couple without children
rose from 17 to 25.5 percent. Meanwhile, the traditional household with
children has declined dramatically, from 40.3 percent of the total to
just 24.1 percent. These and other changes in household structure result
in different priorities for home buyers with regard to their neighborhood
location, number and size of rooms and layout of the floor plan.
Household wealth
has also grown substantially in the last 30 years, and this is another
factor in why more households are demanding high-grade appliances and
other amenities across the housing market. Median family income rose from
must over $44,000 in 1970 to just over $66,000 in 2001, according to Census
figures.
Home buyers
today expect more and get more for their dollar than in times past, and
that's what the data shows. For example, 54 percent of builders are now
installing structural wiring in new homes for high-speed Internet access,
24 percent of new homes come complete with a home office, 40 percent are
built with a programmable thermostat and 38 percent have a multi-line
phone system. Nearly half of all new homes have a security system and
about 90 percent are built with a front porch, patio or deck.
(Chad Floyd,
who is with Chadwick Homes, is president of the Home Builders Association
of Midwest Georgia, which serves a membership of approximately 550 builders
and associate members in Fayette, Coweta, Spalding, Heard, Meriwether,
Pike, Upson and Lamar counties.)
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