As our economy begins to rebound from the recent recession, consumers continue to be extremely conscious of their purchases; the focus now is not only appearance but value as well. Consumers continue to see the value of owning a home – according to the Pew Research Center 81% of adults agree that buying a home is the best long-term investment a person can make, they just want to ensure that they are getting the best value for their investment. Low maintenance, cost-effective, complete packages will lead the market, as most homeowners will be willing to spend money on an upgrade if they see the value but are carefully evaluating their options.
According the National Association of Home Builders, there has been a major shift in consumer values affecting trends in home design. One of the major trends they anticipate for 2011 is downsizing. The trend for homeowners has been smaller square footage with more emphasis on maximizing value through better finishes and details. Builders and homeowners alike are nixing the formal showrooms and gratuitous kitchens and bathrooms for more functional, multipurpose spaces. In addition to being more affordable for first-time buyers, these changes reflect the desire for a house to be practical – for it to be a home and a reflection of the homeowners’ personality.
While price cutting has resulted in a standardization of many key features of a home, new homeowners are looking for personalization. Mouldings and architectural entry units are becoming more important as homeowners look to make their house a reflection of their personality. Despite the smaller size of the house, homeowners are stilling looking to have all the amenities. They would rather invest in high-end appliances and fixtures or granite counter tops than in additional square footage. Energy efficient, low maintenance options are on the rise as homeowners want to enjoy their home, not invest more time and money into care and maintenance.
Furthermore, there is a shift away from the trendy aspects, with the desire for lasting value most homeowners are looking for timeless designs. This should not be confused with dull or boring designs –homeowners want style, but a style that will last for years. They want traditional products that are reliable and create places that are familiar – places that reflect stability.
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