Homeowners may spend substantial funds on a home project, so they want to ensure that their budget is increasing the value of their home. Although most homeowners prefer and should incorporate some level of personalization in the design of their home, they should also be aware of housing trends and the preferences of buyers in the housing market in order to make more informed decisions. The median size of a home in the U.S is 2300 sq. ft. Homes may feature one style, but tend to have a mix of traditional and contemporary styles. Homeowners continue to seek a connection to the outdoors with the use of areas like porches. However, there is a strengthening of the indoor/outdoor connection throughout the home. Now, homeowners extend this concept to the front, back, and any screened areas of the house.
The majority of buyers would like an open kitchen. Most of them prefer the kitchen and the dining room to comprise one open area. Kitchens continue to remain open, light, and airy; but some kitchens may include the flexibility to temporarily enclose this area. Homeowners are also using the kitchen for multiple purposes, such as incorporating a home office. The openness of the kitchen may extend into a greatroom space that could serve as a home office. Other rooms in the house are also being converted at a greater speed to multiple uses as users seek additional spaces and more room within the existing footprint.
Kitchens remain traditional with clean, contemporary elements. A continuity is evident between the interior and exterior. Within the kitchen, cabinets are being extended to the ceiling with a lower prevalence of soffits. Even though the all-white color scheme is still common, the kitchen and other parts of the home is adopting a warmer colors that includes not only paint, but also other building materials.
Single-level living remains popular, followed by two -story, and then a low percentage of split-level. Super-contemporary homes have arisen with structures like flat roofs. Just like the interior, the exteriors may display mixed materials.
Most homebuyers would like a washer and dryer on the first floor which holds preference over other areas of the home like the garage, basement, or second floor. Other popular features include high ceilings on the first floor and the presence of a second bath or a second and then a half bath. About half of homebuyers request three bedrooms, a two-car garage, and no basement.
No clear preference appears to be evident for kitchen cabinets. Some of the most common colors appear to be white and medium brown, followed by dark brown, grey, and beige. Most appliances are still stainless steel, but black and white appliance and fixture colors are becoming more common. Granite and natural stone still hold the majority for most kitchens, followed by quartz and engineered stone. Laminate is another much less requested countertop material.
While only a few homeowners have no concern about the environmental friendliness of their home, a greater majority of homeowners would like to have eco-friendly features. However, they are not willing to pay more for these features. Yet, at the same time energy savings from having an eco-friendly home is of interest, being that these types of features could result in $1000 or more in annual savings in some cases.
A number of features are considered either essential or desirable for homebuyers. Almost all homebuyers find a laundry room to be an essential characteristic of the home. Other desirable features include a patio, exterior lighting, storage for sports and tools, and a walk-in pantry.
Among the Top 10 characteristics that are considered valuable by homebuyers include double kitchen sinks and hardwood ceilings. One way to respond to this new surge of demand is to increase your home’s value by completing kitchen remodels; as well as porch, deck, and patio additions and renovations. These types of renovations can be enjoyed by the homeowner now and may result in a higher sales price later.
On the other hand, some homebuyers would not consider paying extra for particular features. These include elevators, pet washing stations, dual toilets, wine cellar, roof garden, dual toilets, and cork flooring. You could still add these areas to your home for your own enjoyment, but you should realize that unless a buyer happens to value these features, these renovations may not be reflected in the real estate value or the sale price of your home.
In the kitchen, mixed color cabinets are becoming more popular, along with bringing more light into the kitchen with large windows. One variation of this is a white kitchen that still delivers a pop of another color on the island. Another variation could be painting lower cabinets in color and upper cabinets in white. Some of the most popular color scheme use navy, greys, and greens. Color is also sometimes seen on the floor.
Some upgrades are more common in some types of homes than in others. For instance in homes over 2500 sq. ft., homebuyers are more likely to find both stand-alone tubs and walk-in showers in the master bath. In more contemporary homes, a homeowner might install floating cabinets. Specialty rooms like bunkers and wine cellars are more frequently found in homes above 3000 sq. ft., second homes, or retirees’ homes. Other housing trends are the increasing popularity of multifamily residences and ADUs (Accessory Dwelling Units).
When building a home, you have the opportunity to include the features and layout that works best for your family. Also when renovating, you can further personalize your home to better fit your needs. However, if you are considering selling your home in a few years or even sooner, finding out at least the general rends in the market can help you to attract more homebuyers and obtain a higher purchase price. If instead you are planning to stay in your home and perhaps access your home equity at some point, desirable features could increase your home’s value. An interior designer can assist you in reconciling your personal tastes with current trends, especially on the interior of the home.