Research done by the National Association of Home Builders and Better Homes & Gardens magazine reveals that, at least with regard to their houses, American consumers are starting to think smaller.
According to Gayle Butler, editor-in-chief of Better Homes & Gardens magazine, home buyers, either by necessity or choice, are ready to take a step back from the McMansions or trophy homes.
Buyers in 2009 want to live in a home that is cozier, more organized, and more economical in terms of operating costs. They want “Wii-sized” and media-centric family gathering rooms with enough floor space for playing the popular and physically interactive video games. They also want more storage to keep clutter under control in these smaller homes. This could include anything from built-in shelving to a pantry that allows families to save money on groceries by stocking up on food staples.
Today’s buyers want homes that are more economical to operate. Ninety-one percent of respondents to a Better Homes & Gardens online survey of readers anticipating a move to a new home said they wanted an energy-efficient heating and air-conditioning system in their next home. An NAHB survey received similar results, with 91 percent of respondents preferring an energy-efficient home with lower utility bills versus a cheaper home (with a sales price 2% to 3% lower) without energy-efficient features.
Americans also appear to be willing to spend money to live in a greener home. According to NAHB’s research, home buyers said they would pay an average of $6,000 more for their new home to save $1,000 annually on energy costs. More and more consumer realize it’s in their long-term interests to invest in energy-efficiency features. Federal tax incentives for homeowners who upgrade their homes to be more energy-efficient might also be having an impact.
According to both the NAHB’s and Better Homes & Gardens’ research, other things that are growing in importance to today’s home buyers include outdoor features (65% of buyers said they wanted a front porch) and a home office (71% of all buyers said a home office was “desirable” or “essential)
Do you agree or disagree? I and other Builders would like to know what you think.
Chuck Miller GMB CGB MIRM CMP MCSP CSP
President / Builder – Chuck Miller Construction Inc.
(208) 229-2553
www.chuckmillerconstruction.com
Friday, February 13, 2009
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