Builders Tweak Floorplans for Growing Segment of Buyers

Homebuilders are changing their floorplans to accommodate more people living under one roof. As adult children and aging parents move in, home owners are finding the need for more defined, separate housing corridors within their homes.

For example, homebuilder Lennar is expanding the offerings of what it calls the “Next Gen” house. Introduced in western states like California, Arizona, and Texas, Lennar is now taking its “Next Gen” floorplan to North Carolina. The single-family home features a second door, separate from the main entrance, that leads to a 500-square-foot suite for a private residence. There’s also a door inside the main house to access the suite.

“We market it as two homes, one payment,” says Trish Hanchette, Lennar’s Raleigh division president.

Homebuilders also are finding flexible first-floor space is in high demand. The spaces can be used as a mother-in-law suite or changed into a nursery, extra bedroom, or home office.

Some in the housing industry are also calling some flex rooms “bounce back” rooms — so named for adult children who have moved back in with their parents because they're struggling to make it on their own.

“The number of 22- to 30-year-olds that are still living at home is at a record high right now,” says Hampton Pitts, an executive vice president with Ashton Woods Home. “So you have that college graduate that’s back at home looking for a job and maybe got their first job but not ready to be in an ownership or rent situation.”

Source: “Builders Target Families with Multiple Generations Under One Roof,” RISMedia (Jan. 8, 2013)

Builders See 'Green' as Answer for Turnaround

The green building sector is offering some hope for the homebuilding industry, which has battled sluggish sales in recent years that has practically brought new-home construction to a halt.

But home builders that have opted for green construction are beating the odds and have even seen their market share rise slightly, according to panelists at a Standard & Poor’s housing summit this week in New York.

Home owners are being lured to green, seeing it as the greatest potential for appreciation of their home, panelists note. Green remodeling has also increased, partially due to federal tax credits available to home owners for energy-efficiency improvements.

In 2010, a third of all commercial real estate construction was green, as was 16 percent of residential construction. Jeff Mezger, president and CEO of KB Home, says one challenge is introducing more “green” products for the starter and move-up markets that won’t increase costs.

Also, some consumers are still not sold on green building, lacking information about energy savings and finding a qualified person to do the upgrade work, panelists noted.

Source: “Housing Panelists See Opportunity in Green Building,” HousingWire (June 9, 2011)

Tips for Choosing Upgrades for a New Home

Most home owners opt to add some upgrades to a new home, which can be rolled into the mortgage opposed to paying for them later on their own. But the choices of what flooring, lighting, or other upgrades to choose can be overwhelming.

Designer Candice Olson, author and host of HGTV's "Candice Tells All," says lighting and extra wiring are key upgrades new home buyers should consider.

"Adding lighting -- or at least the wiring for it -- means you'll be able to have bathroom sconces instead of that one overhead light the builder gives you,” Olson says. “Your flat-screen TV can be where you want it. You'll have a floor outlet for the lamp in middle of the open room. And you won't be ripping out walls later to do all this."

Also, she says home owners shouldn’t forget about the exterior lighting either. "Outside lighting, plus landscaping, will set apart your house from the others in the neighborhood where buyers chose from plans A, B and C," Olson says.

As for flooring, Olson recommends hardwood floors for the main living areas, and cork floors for the basement, since there’s potential for water leakage in basements.

She also says the addition of taller baseboards, chair rails, crown molding, coffered ceilings, built-ins or a banquette also are smart investments for upgrades.

Source: “Decisions, Decisions: Add Character to Your Home With a Few Choice Upgrades,” Chicago Tribune (Feb. 4, 2011) http://www.realtor.org/RMODaily.nsf/pages/News2011020906?OpenDocument