Homeownership is an enormous investment, and it’s important to stay up-to-date on the latest trends in the market. If you’re thinking of buying a home this year or are just curious about what’s happening in the world of homeownership, read on. In this article, we will discuss six major trends that are happening in the housing market right now.
1. Buying Homes in Gated Communities
According to the Foundation for Community Association Research, around 25-27% of Americans live in private communities governed by HOA’s, condominiums, and cooperative housing communities. And that number is only increasing. There are several reasons people are interested in living in gated communities. For one, they offer a sense of security that is not always present in other neighborhoods. In addition, gated communities often have amenities like swimming pools, tennis courts, and playgrounds that are not available in other neighborhoods. If you’re considering buying a home this year, a gated community may be the right choice.
2. Custom Homes
According to the Census Bureau, 1,819,000 new residential construction permits were issued in April 2022. A good number of these permits were for custom homes. Custom homes are homes that are built to the buyer’s specifications. You can choose things like the layout, finishes, and appliances.
Remember that custom homes can be more expensive than other types of homes. In addition, the building process can take longer than it would for a traditional home. However, the result is worth it if you want a true one-of-a-kind home.
3. Smart Homes
Technology is becoming more and more prevalent in most people’s lives, and that includes their homes. Smart homes are houses that are equipped with technology that allows you to control things like the thermostat, security system, and lighting from your smartphone or other devices.
Besides being convenient, smart homes are also energy efficient. This is because you can program them to use only as much energy as you need. A smart home is a brilliant choice if you’re interested in saving money and helping the environment.
4. Energy-Efficient Homes
One of the most popular trends amongst homeowners is to make their homes more energy-efficient. They can do this in several ways, such as installing solar panels, double-glazed windows, and energy-efficient appliances. Not only will this save you money on your energy bills, but it will also help to reduce your carbon footprint.
Besides making your home more energy-efficient, you can also make it more eco-friendly by using sustainable materials. This includes using recycled materials for construction and using green products for your home’s interior.
5. Home Additions
Another popular trend amongst homeowners is to add on to their homes. This could be as a second story, an additional room, or a deck. Home additions are a great way to add value to your home and make it more comfortable to live in.
If you’re thinking of adding on to your home, be sure to consult with a professional first. They will help you determine if your home can support the addition and what type of addition would be best for your home. You should also ensure you check with your local zoning regulations to see if there are any restrictions on home additions.
6. Timely Repairs
Many homeowners wait until there is significant damage before they make repairs. In fact, according to one consumer survey, 65% of homeowners say weather damage is the primary motivation for repairing roofs.
Luckily, homeowners are now becoming more proactive about making repairs in a timely manner. By taking care of repairs as soon as they are needed, homeowners can avoid more significant damage and the associated costs.
These are six of the most popular trends amongst homeowners. Whether you’re looking for a new home or ways to improve your current one, be sure to keep these trends in mind.