Investment propertyWhat Will Be Hot For New Homes In 2002?
When it comes to new homes, what will be hot in the new year? Big homes, small living rooms, fancy kitchens and baths, and lots of amenities are among the things to look for in the housing market.
Deborah Rosenstein keeps on top of trends in new home building through her market research and marketing firm, Rosenstein Research Associates in McLean, VA. She says she keeps an eye on what"s hot by talking to consumers, focus groups and forecasting organizations, studying consumer preference surveys by organizations such as the National Association of Home Builders, and touring 500 to 600 model homes a year.
One of the most obvious patterns of years past has been the move toward increasingly larger homes. Rosenstein says that"s one trend that may be tapering. While "the market truly likes a big home," Rosenstein says there"s a limit to how large they can be because lots are smaller and you just "can"t get as much ground." The emphasis in the New Year will be increasingly on quality, rather than quantity. In her words, buyers will be "getting well defined spaces, sort of jewel box spaces."
Rosenstein says, "You"re getting all the functions that you had in a much larger house, but the finishing package is better in many instances, or more care is being taken to make sure that the countertops in the kitchen and baths, and that the cabinets and such, are just what the market wants. It"s the finishes, it"s the materials, it"s the way the space is organized for today"s lifestyles."
Within these houses, floor plans continue to reflect the trend toward a more casual lifestyle. According to Rosenstein, "living rooms are small still" and "entertaining is done typically in the rear of house." There you will most likely find "a nice kitchen and a large family room area." There might also be a sunroom that opens off these areas.
First floor bedrooms are still being offered, but Rosenstein says the market for these floor plans is limited. The idea sounds good to a lot of buyers, until they see what they have to give up on that first floor to make space for a bedroom.
According to Rosenstein, laundry rooms on the second floor remain popular among about 50 percent of buyers. Those who don"t like the idea tend to express worries about what might happen to the house if there"s some sort of mechanical breakdown. Linen closets are making a comeback after making a strong showing in consumer preference surveys.
Little touches mean a lot. Rosenstein says, "molding packages throughout the house are very popular, and any type of molding detail makes it more upscale and elegant -- no matter what price range you buy in."
In the kitchen, not much has changed. Rosenstein finds natural woods, hardwood floors, solid surface countertops, granite and stainless steel remain popular. Recessed lighting is also a hit. In the master bathroom, the trend continues toward larger showers, compartmentalized toilets and soaking tubs. She says builders are increasingly offering "nifty little features" like heated towel racks, and when it comes to ever-popular ceramic tiles, "the bigger the tiles the more expensive the house."
Wondering how to paint, carpet or accessorize those spaces? A number of forecasters are weighing in for 2002.
The Color Marketing Group finds blue will "maintain its enviable position as the most important color of the decade." CMG president Hall Dillon adds "orange is foreseen to be the hue of optimism and happiness in 2002." It"s expected to find "popularity in all age groups."
The Color Association of the United States finds women"s clothing moving toward a palette of reds, golds, off-beat greens, unusual blues and purple hues. It says "many of the women"s shades will be found inside one"s house or apartment, as well as in a chosen garment."
DuPont Antron"s forecast focuses on the "interplay of colors" that reflect the contrasts in our lives between a hurry-up mentality and the need for down-time."
Finally, people are looking beyond the house itself. Rosenstein finds that "community has become very important, too." In her preference surveys, she found more buyers are looking for "an environment that felt like a community, rather than a subdivision." Amenities, such as trails and swimming pools, are increasingly popular.
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Carol Ochs is a Washington-based reporter who covers new home trends.