Things are changing in the home building industry. More millennials than ever are purchasing and building their first homes, the influx of foreign buyers outbidding locals, and changes in the global economy are influencing how people are building and renovating their homes. Here’s what we’ve recognized as emerging trends in residential building:
Home buyers continue to seek open floor plans where rooms have multiple purposes. Older homes with tighter spaces and more walls are affecting the way people are renovating their home’s layout to achieve this living/dining/lounging hybrid ambiance.
All About Kitchens
The kitchen continues to be the focal point of homes. As a prime gathering area for entertaining, people want bigger kitchens, multiple islands, built-in bars, and minimal shelving using raw materials.
Not Just a Buzzword: Minimalism
The cool and chic concept of minimalism is making its way into home building trends. In addition to the popular open concept floor plan, minimalism is being integrated into home builds and renovations to align with homeowner’s attempt to downsize and generally own less stuff. Expect to see smaller closets, glass doors, and concealed storage spaces. Sometimes less IS more.
Eco-Friendly is the New Norm
Between new regulations, tax credits, and increased awareness of our limited resources, going green shows no signs of slowing down in the building industry. Here are a few of the eco-friendly trends we’ve noticed:
As the solar market expands, so do the possibilities for homeowners to convert to sustainable energy. Buyers are getting solar panels installed on their roofs to take advantage of this clean, renewable way to generate power.
Fiber Cement Siding
Home buyers are looking for low maintenance homes that can support their busy lifestyles. Builders are starting to use fiber cement siding for home exteriors as they are sustainable, durable, and require little maintenance.
Bigger & More Windows
Let there be light! Windows are one of the biggest sources of heat loss. Homeowners are increasingly requesting more and larger windows to allow for more natural light and heat.
Cool roofs reflect more sunlight and absorbs less heat than standard roofing material, allowing homeowners to keep their house cool in the summer. Cool roofs help reduce energy bills and typically last longer than non-cool roofs. Think of it like wearing light coloured clothing in the summer to stay cool.
In a world where our lives revolve around our devices, so will our homes. Homeowners are requesting smart home technology that essentially allows the house to maintain itself. These types of systems include automated control of heating and cooling systems, sensored lighting, and security systems.
While the size of single-family homes has skyrocketed in the last 50 years, we’re recognizing a slight decrease in the last year. New single-family homes averaged 2,628 square feet during Q1 2017, down from 2,658 square feet the year before. While we’re not claiming that building tiny homes is here to stay, it’s certainly a trend that’s on our radar.
Changes in Demographics
As younger families begin to move into their parent’s and grandparents’ homes that were built 50-100 years ago, they’re doing major renovations to their homes. These homeowners are investing in renewable energies, creating space for more family members, and incorporating senior-friendly accessibility elements.