Can Innovative Architecture Jump Start the Housing Market?
Last Updated on January 18, 2021
Since the mid 2000s, the housing industry has been in decline. Fewer banks are lending to new buyers, and many people have found themselves foreclosed on through rising interest prices and increased unemployment. Today’s buyers are not interested in the features of homes of the past. Today’s buyers must see something spectacular or innovative before they will commit to a purchase. In response to this, housing manufacturers have come with new features and options that will interest the modern home buyer.
One of the main features that new buyers want to see is environmentally friendly options in their homes. These features will help save a homebuyer operation costs throughout the year, and will also reduce the overall impact on the environment. Shoppers want to see green technology features like water-saving shower heads, a large amount of insulation, energy-saving appliances, heat-reflecting windows, and high-efficiency HVAC equipment. Including these features in a home helps a buyer commit to the purchase.
A few years ago, people wanted huge homes. The larger the home, the better. However, today’s shoppers are different. They would rather see a smaller home with more usable space. Most people are concerned with the cost of operating a large home, and simply want a home that is large enough for their needs. Usable spaces, like office nooks, smaller bedrooms, and increased storage space are more desirable features than the huge bathrooms and giant living rooms desired in the past.
Open floor plans
Today’s home buyer still wants an open floor plan. Floor plans that have a clear openness between the kitchen and living areas are popular because many people want the option to cook and entertain at the same time. Usable seating and entertaining space around the kitchen are also modern design features that new home buyers want to see. However, the floor plans still must have usable space. Large rooms for the sake of being large are not popular with today’s buyers.
Today’s buyers want to see streamlined and efficient spaces. Wasted space anywhere in the home is not something a modern buyer wants to see. Spaces that are multi-functional, such as a living area combined with an office nook, or a living area that doubles as a home theatre are all features that modern buyers look for. Sleek, elegant designs with non-fussy architecture are also top priority for modern homes.
A unique exterior will draw a buyer into looking at a home. Popular modern designs include streamlined, yet individual-looking architecture that showcases the personality of the homeowner. Unique features like large windows, unusual shapes, individual exterior designs, and unique landscaping will make a home stand out in the mind of a buyer.
Outdoor living areas
Another feature that today’s home shoppers look for is outdoor living spaces. These spaces help bring the feeling of home outdoors for a mini vacation experience right in the home. This trend emerged from the downsizing of vacations and other trips, which has kept many families at home more than ever before. Outdoor living areas give a family a place to rest and relax in their own home without spending any additional money.
These interesting design elements will help home builders sell their homes faster and at a higher price than homes without these features. The key to getting people interested in buying houses again is to provide the shoppers with features that they believe are important in today’s modern world. These features combined with a lowered interested rate on mortgages will be the keys to turning the housing market around.
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