Smaller Home Trend
Our homes are becoming smaller and simpler compared to oversized McMansions of a decade gone by. Younger generations are still looking for expandable space in their homes to prepare for bigger families. Empty Nesters, those with aging parents or planning for their own retirement years want easy maintenance, quality materials and smart systems for the changing family and their needs.
Lind Goodman, Broker-in-Charge for Henderson Properties, said, “We’re seeing requests for smaller homes that are streamlined, smart and cutting-edge. That being said, home buyers still want amenities such as high-end designer faucets and cabinetry, granite counter tops and top of the line energy-efficient appliances.”
According to the National Association of Home Builders, the median size of new U.S. homes fell from 2,277 square feet in 2007 to 2,135 square feet in 2009. It’s not necessarily a reduction in the number of rooms but the size of room and overall home size that’s getting smaller. The bottom line is that new construction homes must compete with the high number of foreclosures on the market and smaller size helps bring down the price.
As a result of more people staying in their homes long term, the quest for energy efficiency continues to be one of this year’s hottest trends. Buyers want better wall insulation, better insulated windows, better sealing duct work, low energy LED lighting and Energy Star-rated appliances.
Smaller kitchens and bathrooms are also definitely in for 2011. The kitchen still remains the hub of the home, but doing more with less space is what more home buyers want. When it comes to bathrooms, the focus is on designer basins and tubs and creating a relaxing spa-like atmosphere rather than size. Again, homeowners want smaller homes and functional home features that work easily for them. Here are some additional smart, practical and efficient home trends in 2011:
- More and more homeowners are going green and getting energy-efficient upgrades. They are focused on maintenance and repair projects that lower the operating costs of their home.
- Open floor plans are also popular. Removing interior walls opens up spaces in older homes, helping to modernize them and help families be more flexible with the square footage they already have.
- Due to home values still falling in many areas, many homeowners are creating tranquil, relaxing and soothing spaces within their current homes such as Zen-like bathrooms and intimate small nooks for decompressing, distressing and quiet time out.
- More people are choosing to work from home so homes are taking on more of an industrial/commercial look for utilitarian convenience and professional creditability. Industrial high-tech design is extremely popular like exposed beams, stainless steel and architectural details.
- Homeowners want to pay CASH rather than borrow for home projects. They are on a budget and are carefully choosing what projects they can afford and do with the money they have. Rather than remodel an entire room, homeowners are saving money by updating selected features like cabinets, counter tops and hardware.
