Homebuyer Preferences Changing

What do today’s buyers want in a new home? The more cynical among us would say that homebuyers want whatever builders tell them they want. However, there was a great deal of discussion at this year’s International Builders Show in Dallas as builders appeared to be searching for ways to make new homes more attractive to more people.

Not everyone wants a new home. Some prefer to remodel. Homeowners go through the stress and mess of remodeling rather than buy a new home because they want to add personal character to their existing home — something they don’t see in new home offerings. Builders who figure out ways to provide that comfort zone will have a big edge.

Homes are much more than a roof overhead. They are a decompression zone, a place to finally sit down, prop your feet up and exhale from the rigors of the day. Some people can find that kind of comfort in a new home; some can’t.

According to surveys, homebuyers today seek a home where they can find a "peaceful, meditative feeling." Home is the place to renew and recharge.

Homes are not a fortress anymore. Smaller homes with better craftsmanship are in. Overstuffed is out. Minimal is in. Good quality and good design are in.

While the outside of homes hasn’t changed much over the years, what’s inside is dramatically different.

Homes started getting bigger 30 years ago — about the time baby-boomers bought their first homes. Since then, buyers have demonstrated a willingness to give up some amenities but not space. Size really does matter to homebuyers, especially the size of bedrooms and the family room. Baths and kitchens are important to buyers. Just try to sell a home with a small kitchen, and you’ll be convinced.

Homes are changing because homebuyers are changing. There are more single persons buying — 26 percent in 1998 compared to 17 percent in 1970. There are fewer couples without children buying homes — 27 percent in 1998, 30 percent 18 years earlier. Median two-earner family income rose from $24,000 in 1950 to $55,400 in 1997; single-earner family income increased from $19,200 to $30,200.

The trend toward two-story homes continues. In 1971, only 17 percent of new homes had a second story. Last year, 52 percent had two or more stories. Although the average homebuyer gets older every year, the popularity of an upstairs continues.

Home size, however, may be nearing the saturation point. Home size increased significantly from 1970 to 1999. The average size of new, single-family homes grew from 1,500 to 2,225 square feet. Researchers believe the average size will level off around 2,300 square feet. That’s because family size is falling. Lots also are getting smaller — about 9,000 square feet on average.

More new homes will have three bathrooms. Last year, 53 percent of new homes had 2.5 or more baths, up from only 15 percent in 1971. The trend toward separate shower and tub continues. Double vanities, skylights, multiple showerheads and even his and her bathrooms are gaining in popularity.

Homes with four or more bedrooms are in demand. Homes with that many bedrooms grew from 22 percent of the total in 1971 to 33 percent in 1999.

Homebuyers want all the kitchen convenience and luxury they can afford. Open designs are popular. Walk-in pantries are on many wish lists. The bigger the kitchen, the better. Today’s kitchens must be well lit and accommodate guests that frequently like to hang out there.

Ceilings are going up, too. First-floor ceiling height last year was nine feet or greater in 43 percent of new homes built. Homebuyers like the spacious feeling the extra volume gives. A second story costs less than the first and gives upstairs privacy, a particular appeal to teen-agers.

After the technology rage subsides, look for homes to become "healthier." The trend is already in that direction. Advances in healthy homes, however, will be slowed because the furniture industry has not kept up with consumer concerns over such materials as formaldehyde.

Here are some features and frequencies found in new homes:

· home office (15 percent)
· sun room and media room (15 percent)
· exercise room (2.5 percent)
· central island in kitchen (38 percent)
· walk-in pantry (31 percent), skylights (11 percent)
· no formal living room (17 percent)
· security systems (36 percent), deck (27 percent)
· patio (42 percent), front porch (53 percent)
· screened-in porch (6 percent)
· breezeway (1 percent)
· vaulted ceiling (30 percent)
· energy management system (16 percent)
· central music system (7 percent)
· built-in home theater (3 percent)
· lighting control system (1 percent)
· rear-entry garage (4 percent).

Copyright© 2002, David S. Jones.
All right reserved
For information contact FrogPond
800.704.FROG(3764) or email susie@FrogPond.com

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