New is Number One When It Comes to Buying a Home
If you’re in the market for a home this year, don’t be fooled by the brisk chill in the air – the spring house-hunting season is actually closer than you think. That means now is the perfect time to start your planning. Space requirements such as bedrooms, bathrooms and square footage are essential, but a house is more than just shelter, it’s your home, and the great ones not only have everything you need, but everything you want.
Although every home buyer’s needs are unique, the market is often dictated by common trends. To better understand your own buying preferences and to see if you’re aligned with others in the real estate marketplace, take a look at these five home-buying trends.
- Function over aesthetics. When you think kitchen trends, you probably think of design features like granite countertops and stainless steel appliances. While both these options remain popular and are common in new construction, surveys by the National Association of Realtors and the National Association of Home Builders (NAHB) found that buyers were extremely interested in functional attributes like new appliances, eat-in layouts, walk-in pantries and double sinks.
Living rooms are no longer a must.Given today’s diverse home-buying population, the formal living room is becoming less prevalent. Many buyers would rather use traditional living room square footage in a new way, for example families are using the living room as a home office or choosing to forgo the space altogether in exchange for extra square footage in other areas of the home.
3. New is number one. According to the NAHB, more than half of surveyed buyers want to purchase a new home. It can be a challenge for buyers to find everything they desire in a resale home, and because renovations are often costly and time consuming, it’s hard to deny the appeal of purchasing a brand-new home that is move-in ready.
4. Let there be (energy-efficient) light. Home buyers have coveted homes that make good use of natural light for years and that trend is continuing in 2016. In addition to large windows, NAHB research shows homeowners are putting an increased emphasis on the energy savings that accompany the installation of high-performance windows.
5. Make it your own. Personalizing a new custom home is easier than ever before. Whether you want a kitchen for entertaining or a breakfast nook for family dining, an office space instead of an extra bedroom, you get to choose … so start your preparation today!
The more work you do ahead of time, the more time you can spend exploring the market. So start your research now and you’ll be moved into the home of your dreams before you know it.