|
What's hot and what's not in housing
By Dana
Dratch Bankrate.com
What's
hot in new homes? Fewer walls, more toys.
Buyers are looking for open spaces in the main area of the home
with oversized kitchens that flow into large family rooms. When it comes to
the master bathroom, buyers are looking for a little luxury.
"We're basically seeing larger kitchen areas and more open
floor plans with vaulted ceilings," says Dick Koestner, a regional vice
president with the National Association of Realtors and partner in Koestner
McGivern & Associates in Davenport, Iowa.
Buyers want something "far less formal and far more celebratory,"
says Ron Phipps, a regional vice president of the National Association of Realtors.
Living rooms are going the way of the powder blue tuxedo.
"The real formal living room is gone," says Joan Isgro-Grant, an affiliate
of Weichert Realtors in Kingston, N.Y.
Homeowners are also demanding more for the money. And with lower
interest rates, they are not afraid of buying more home. "What they look
at isn't the cost, it's the monthly payment," says C. D. Boring, president
of RE/MAX Realty Plus in Sebring, Fla.
That translates to higher-grade appliances, more wood, more tile,
more solid surface countertops and more designer touches in mid-priced to high-end
homes.
"It amazes me," says Phipps, president of Phipps Realty
and Relocation Services in Warwick, R.I. "Even in modest homes, you have
much more money allocated for cabinets, countertops, appliances and raw space."
Homeowners may be eating out as much or more than ever, but they
are using their kitchens to entertain and as a gathering place for the family.
As a result, "builders are putting more money in kitchens," says C.
Kent Conine, president of the National Association of Home Builders, an industry
trade group.
Likewise, the master bathroom is the place they get away from
it all. "It needs to be large and needs to have a feeling of luxuriousness
-- and high quality," says Dan Lee, vice president with First Weber Group
Inc., in Madison, Wisc. "Natural light is important, too."
Here are some of the most popular new home features:
First-class kitchens. "They
are really tricking out the kitchens," says Sean Degen, vice president
of architectural services for Pulte Homes Inc., which builds everything from
$100,000 houses to those priced well above $1 million.
The amenities will vary, depending on the price range. But look
for solid surface counter-tops such as Corian, granite or marble. Also hot: professional
quality appliances -- side-by-side refrigerators and stoves with more than four
burners or smooth surfaces with no burners at all -- and cabinetry in maple,
cherry and birch as builders try to tap "the wow factor," says Conine,
president of Conine Residential Group in Dallas.
But the space also has to be practical, says Lee. Buyers "are
looking for the design of the kitchen to flow. It has to make sense."
Home office space. "Media
rooms and home offices are probably the two most desirable amenities right now,"
says Conine. With an office, buyers are looking for "something pretty generic,
so they can customize it to their own tastes." But touches like window
seats and built-in bookshelves are always appreciated.
Entertainment rooms. In the entertainment
center, buyers want all the toys, says Conine. "As much as they can afford.
And with the lower interest rates, they can afford a little more."
First floor master suite. Also
known as "master on the main," this style is especially popular with
baby boomers who are planning ahead. "People are 45 years old and going,
'When I retire I don't want to climb those steps,'" says Koestner. He sees
buyers looking ahead 15 to 30 years to the time the mortgage is finally paid
off with an eye toward what their needs might be then.
Ranches are hot for the same reason, says Michael V. Sajdyk, director
of marketing for Davis Homes, based in Indianapolis. Buyers are saying, "Why
do I need a second floor if I can do it all on one floor?"
Luxurious master bathrooms. Separate
tubs and showers are a must. But for many buyers the emphasis is shifting from
a jetted tub to an oversized shower with two or more heads.
No longer exclusive to high-end homes, "Now you're seeing
them in mid-range homes," says Koestner.
Look for lots of tile, marble and multiple heads in the shower.
"Showers are the big thing right now," says Degen. "People realize,
'I take a bath four times a year, but I take a shower every day so I might as
well make it nice.'"
Still, especially in some regions, the bathroom is no longer No.
1 on the buyer's list. "It's still pretty glamorous," says Conine.
"But I'm sure they've peaked in some areas". The trade-off: closets.
"You can never have enough storage."
Low maintenance. "We're
seeing empty nesters who want a more carefree lifestyle and less square footage,"
says Conine. Many are looking at patio homes, town houses or houses with less
total space but more goodies.
"They want the bells and whistles in the new house that they
had to sacrifice for space when they were younger," says Sajdyk, whose
company builds largely in the $70,000 to $180,000 price range.
And everyone is interested in a house that they don't have to
spend time and money maintaining. Look for lots of floors made of tile, woods
and even colored concrete, says Conine. Buyers are attracted to the "durability
and adaptability" of these surfaces. "And you can always buy a new
rug and throw it on the floor."
On the exterior, this translates to low maintenance building products
like brick and certain types of siding. And sometimes even to a smaller yard.
"That's why so many couples today are looking at townhouses
or row houses," says Richard F. Gaylord, a Realtor with RE/MAX Real Estate
Specialists in Long Beach, Calif. "They want a place to eat [outside] and
let the dog out, but they don't want a lot of work attached to it."
Decorative lighting. Both inside
and out, buyers are looking for attractive light sources in kitchens, baths
and family rooms, and lots of them.
Natural products. Wood floors,
granite, marble or stone countertops, solid wood doors and wider molding are
all popular features, says Lee. "People are looking for higher quality
natural products. These things are getting more and more important."
So, too, are "green" building materials. "There's
a big push for green-built homes where we aren't pillaging the environment to
supply our housing needs," says Lee.
Places to play. Buyers are willing
to make do with small lots, provided there are parks or recreation facilities
nearby. If not, they will want "a pool in the yard, a spa in the yard or
a play area for [the] children," says Gaylord, a regional vice president
with the National Association of Realtors.
Fireplaces. "It's pretty much
expected," says Lee. "For the most part, people want that option."
Depending on where you live and how much your home is worth, a double-sided
fireplace, especially in the kitchen/great room area, is trendy.
Traditional architecture. Buyers
are returning to the comfortable, familiar styles of their youth. "The
post modern styling is gone," says Degen. In the South and Southwest, traditional
might mean stucco or adobe. In the rest of the country, Colonial, Victorian,
Greek Revival and Colonial Revival are big, he says.
So what is today's version of shag carpet and avocado green kitchen?
What's "out" varies with the climate and price range. Some trends
definitely seem to be waning, including formal living rooms, whirlpool tubs,
wall-to-wall carpet throughout the whole house and any garage not big enough
for at least two cars. "A place for storing the toys is really important,"
says Lee.
Strangely enough, even though living styles have gotten much more
casual, formal dining rooms are a must for many buyers. "They still have
grandma's dining room set and they don't want to get rid of it," says Isgro-Grant,
a regional vice president of the National Association of Realtors.
Homes have gotten bigger, says Degen. One industry survey found
that from 1980 to 1999, square footage increased by about 16 percent. That means
the average home went from about 2,000 square feet to a little more than 2,300
square feet.
But during that same period, the average lot size decreased by
6 percent -- from about one-third of an acre down to about one-quarter of an
acre, Degen says.
In northern Virginia, F. Gary Garczynski has seen lots shrink
from a minimum of a quarter acre in the 1970s to "half that" currently.
"I think that's occurring in a lot of areas where ground
is at a premium, says Garczynski, a developer and the immediate past president
of the National Association of Home Builders. He's also noticed a wider interest
"in environmentally sensitive green building."
Some real estate watchers make the connection between ever larger
homes and ever shrinking interest rates. "Twenty years ago, interest rates
were 18 to 20 percent and smaller houses were in," says Myra Zollinger,
partner with Coldwell Banker Realty Center in Chapel Hill. Today, she says,
people want a large kitchen, large bathrooms and "lots of light."
That is probably one reason eight to 10-foot ceilings are popular.
But they are also being more careful with the space they buy. In many regions,
vaulted ceilings -- except for the great room -- are on their way out, according
to real estate professionals and builders. Instead, home buyers opt for plans
that take that space and give them an extra room.
Trends in new homes can vary widely, depending on the region.
In New England, Yankee buyers are less impressed with elaborate bathrooms, says
Phipps. Instead, they'd rather have closet space. "I think that in New
England, sensibility of function [is] above all else," he says. But, especially
as outsiders move to the area, he adds, "it is changing."
Likewise, in the northeast a wide open lot with no trees could
be a tough sell, while in the Midwest, it might not be an issue.
But when buyers desire trees, they want them full-grown, says
Lee. "They aren't willing to wait any longer," he says. "They
want trees that are already 15 to 20 feet high -- an instant neighborhood."
And while detached garages are cold and unpopular in the northern
climes, they are flying off the market in the West and Southwest, where buyers
often turn them into studio or office space, says Degen.
And in the Midwest and Southern California, whirlpool tubs in
the master bath are still popular, while the trend in the rest of the country
seems to favor oversized showers.
In the South -- and especially Florida -- buyers are looking for
self-contained communities that offer recreation, such as a golf course, pool, tennis
and a clubhouse. And gated communities are big. "If they have families,
they want to feel comfortable that their kids can ride their bikes," says
Boring.
Dana Dratch is a freelance writer based in
Atlanta.
-- Posted: July 1, 2003
|