What’s Trending in Real Estate? The new look of home design and what buyers are seeking now.
In this edition of Insider, discover what’s hot and what’s not in the face of home design. Learn the key home improvement trends that are popular now and decide for yourself if it’s time to upgrade your kitchen, or upgrade your residence. With a keen understanding of current industry trends, keeping your investments sound and the ability to stay ahead of the curve in the latest in home design is easy – whether buying, selling, or upgrading a home.
HOME DESIGN
In a survey conducted by the Wall Street Journal Insights study in August 2014, nearly 9,000 respondents answered questions regarding what type of real estate property would be their next investment, and what specifics in home design were most important to them. Studies indicate that buyers are not necessarily seeking a new demographic of home, but are seeking very specific qualities in home design. Remodeled kitchen and bath, state-of-the-art features and outdoor living space are high on the list in home design.
In a study conducted quarterly by the American Institute of Architects (AIA) beginning in 2005, home design trends were examined out of a panel of 500 leading residential architectural firms. Featured home design characteristics including emerging special home features, outdoor living space and kitchen and bath design were examined.
Currently, for the first time since 2005, all construction segments researched were on the rise. Respondents reported remodeling and additions/alterations were at a 70% increase with a 60% increase in remodeling of kitchen and baths. 36% of respondents said there was a resurgence of custom improvements to special function rooms and areas, with a focus on outdoor space and accessibility being a key design concern.
Home automation and sustainable design is growing in popularity, though home size continues to trend up. “Home design trends favor accessibility, sustainability, and greater use of home automation,” said Kermit Baker of the Joint Center for Housing Studies. “Design trends remain consistent in that homes are getting bigger, indicating that square footage of homes is increasing.”
The demand for gated community homes and condominiums has decreased from the top of the list of desired features for primary residences, indicating home design trends are shifting. For their next home, 57% of buyers are seeking pre-owned homes, 42% of buyers want newly constructed homes, and 37% of new home buyers want homes with state-of-the-art features and connectivity.
Consistently, buyers want either new homes with specific features or to make heavy improvements to existing homes.
When it comes to purchasing or upgrading your home, using the right real estate professional is vital. According to the Insights study of the Wall Street Journal, 93% of buyers and sellers use a realtor to sell their home. Responsiveness, reputation of the agent/broker and reputation of the broker’s company rank as the top three criteria for choosing a broker. At Fuller Sotheby’s International Realty, the top level of service remains consistent regardless of the ever-changing trends of home design and real estate. For all your real estate needs, please contact 303.893.3200 or visit us at www.fullersothebysrealty.com.
