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Many Americans are ready to buy a new place, after spending more time at home this past year. According to a recent survey by the National Association of Home Builders (NAHB), 60 percent of buyers prefer new homes, the highest level since 2007. In April, NAHB celebrates New Homes Month and the many benefits of purchasing a new home. Modern designs, less maintenance and energy efficiency top the benefits list, especially as we ask our homes to do more.
“Today’s new homes offer the type of features that buyers are seeking in the wake of the pandemic, from reducing energy consumption to adding more space,” said Travis Miller, President of the Home Builders Association of Greater Springfield. “New homes offer modern designs and flexibility, allowing buyers to choose a space that will provide a place for everyone in the household to live, work and play.“
New homes offer modern floor plans and designs to optimize space and comfort at home. Buyers have the option to select large open areas to accommodate any lifestyle or growing family. Many new homes have the type of spaciousness that are not typically found in older homes. Modern designs are not limited to flexible spaces. New homes are equipped with the latest technological features and appliances.
Another benefit of purchasing a new home is the energy efficient options available. Many builders have embraced green building techniques, so a home is cost-effective to operate, has healthy indoor air quality and has a minimal impact on environmental resources. NAHB recently surveyed more than 3,000 home buyers, both recent and prospective, on the types of features they prefer to have in their home, including eco-friendly components and designs. Some of the top features desired by home buyers include ENERGY STAR-rated windows and appliances and efficient lighting that uses less energy than traditional bulbs.
Although the majority of current buyers prefer new homes – “patience” is the keyword when it comes to the expectations of builders or remodelers in 2021. Workforce development has been the number one challenge for many years and now the construction industry has the additional burden of material shortages and disruptions in the supply chain. Do some research to understand what builders and remodelers are facing and find out what a realistic timeline will be for your project. Start by joining us for one of our workshops during the HBA Home Show, May 7-9, where we will be discussing Building and Remodeling Expectations in 2021.