Future on Display in Today's Progressive New Homes
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Smaller, greener, more flexible--those are the kinds of homes that nearly every builder will be building once the market finally improves. At least this was the speculation among builders and architects in panel discussions and interviews at last week's IBS.
We're already seeing the beginnings of this as companies reinvent themselves during the downturn. Consider that half the homes built by Beazer Homes are now less than 2,000 square feet, or that hundreds of builders throughout the country offer certified green homes, or that customization of new homes is on a serious upswing.
KB Home recently announced an Open Series of house plans that allows buyers to customize their homes down to the shape of each room. Buyers can cordon off offices, install extra-large islands to create party spaces, or design themselves an extra-large, open family room. KB expects to hold Open Series grand openings--calling them "Open Houses"--in half its communities by mid-year. When you think about it, this is the ultimate in demographic targeting: Buyers can decide for themselves what they want in their homes.
Centex this month began to incorporate a suite of energy-efficient features in all its homes nationwide as part of the Centex Energy Advantage program. The features include radiant barriers, high-efficiency HVAC, Energy Star appliances, and more. The homes are 40 percent more efficient than the typical 10-year-old home, according to tests done by the NAHB Research Center.
The industry will be building more functional, less tricked-out homes once the market improves. Designer Marianne Cusato, creator of the Katrina Cottage, recently introduced her concept for a home for the new economy. Just 1,500 square feet, with four bedrooms, including two potential masters, it features a ton of space-saving features, such as a powder room tucked under the stairs and an entry vestibule with hooks for hanging coats.
Each time the industry emerges from recession, there's a downshift to producing smaller, more functional homes, to gain a price/value relationship over existing homes and kick-start new home sales. This time around, though, we're going to see a "power shift" to meet the interest of Gen X and Gen Y buyers, consultant Chuck Shinn said at IBS. Several designers at the show pointed to the need to provide these buyers with Wii-sized, media-centric family rooms with enough room to play the popular and physically interactive Nintendo game.
Already, new homes are getting smaller and more economical. NAHB researcher Gopal Ahluwalia reported at IBS that the average size of a new home dropped by 200 square feet in the third quarter of last year. Government data indicates that some items that are nice to have, such as additional fireplaces, are giving way to features that add living space economically, such as outdoor rooms.
We may not be out of this housing recession yet. But the future, at least in terms of the kinds of homes we'll be building, is becoming clear.