Welcome to 2016! What can we expect to see trending in the home building industry this year? Here’s our top 7: 1. New homes are back! According to Beth Braverman in an article written for The Fiscal Times she reminds us new home construction was one of the industries hit hardest during the housing bust […]
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While most energy efficiency upgrades prove expensive upfront, solar power has become much more affordable due to leasing programs.
Welcome to 2016! What can we expect to see trending in the home building industry this year?
1. New homes are back!
According to Beth Braverman in an article
written for The Fiscal Times she reminds us new home construction was one of the industries hit hardest during the housing bust in 2009. But single family home building increased 10% in 2015, and is expected to increase another 23% in 2016 according to the National Association of Home Builders. As well new home sales increased 15% in 2015 and are expected to increase 23% in 2016.
2. Buyers want green homes
. Although higher in initial costs more affluent buyers are incorporating energy efficiency upgrades into their new homes. Over half of builders surveyed report they are working on green projects, according to a study from Dodge Data & Analytics
. While most energy efficiency upgrades prove expensive upfront, one such technology has fallen in price dramatically: Solar Power! Using solar power leasing homeowners can pay by the month, resulting in a more affordable investment. One caveat:
understand the lease terms and if you’ll have to stay in the home for several years to make it worth it.
3. 2016 may just be the year the smart home
takes shape. It’s a technology we’ve talked about for some time, but yet it’s still in its infancy. Manufacturers have been working tediously to grow this market. We’ll see what 2016 has in store for this niche that many homeowners seem to desire. It’s time for manufacturers to fully catch up. Check out some of our past blogs on the subject including Smart Homes: Convenient AND Safe?
, Smart Home Regrets
and What’s Next for Smart Homes?
4. Open floor plansaren’t going away yet. Our active lifestyles mean formal spaces have no use in our homes. But instead we need our homes to be connected to work with the fluidity of our lives.
5. Gone are the days when homeowners thought of the basement solely as a man-cave or an entertainment room. Welcome to the time of the multipurpose basement
. Homeowners continue to expand their ideas on the use of basement space creating a whole new living area and a true expansion of their home. Some ideas include meditation
and wine cellars
6. Buyers are preparing their homes for multigenerational living. As more young people live with their parents longer into adulthood, and more aging adults are moving in with their children, our homes demand space for all of us to live together in harmony.
7. Home prices will rise. Although home prices will rise only moderately, according to Fiscal Times’ Braverman. She bases her opinion on a survey by Zillow which predicts home values to rise by a 3.5% average. The impending increase also indicates this year may be the time to build or buy before home prices grow exponentially.