When budgets get tight, what are homeowners willing to give up first?
Homebuyers are thinking through their purchases before they make a big decision on a new home. Here are the Top 5 Things Homeowners are Willing to Do Without:
5. Green Products/Design
Don't take this category at face value. The number of new homeowners opting for Green features that focus on energy savings, cost cutting, and environmental impact reduction are actually INCREASING.
In fact, more homeowners than ever are opting for advanced HVAC heating and cooling systems, superior insulation, and approved (often through ENERGY STAR) appliances designed to conserve water and energy.
The green products that are easier for homeowners to give up include bamboo flooring and recycled glass countertops, which are much higher cost per square foot than their popular counterparts: hardwood flooring and granite countertops.
Tight budgets have led to a "Do it Yourself" attitude. More homewoners are seeing the benefit in installing all landscaping on their own, after their closing date.
In addition to saving money on labor costs, homeowners take a lot of pride in putting some sweat equity into their new home.
3. Architecture/Design Complexity
Another feature homeowners are considering more carefully is the complexity of architecture and design.
This includes opting for a 9/12 rather than 12/12 roof pitch, 2 rather than 5 gables, and standard windows rather than upgraded styles.
2. Finish Details
More and more homeowners are asking themselves, "Do I really need to include crown molding throughout my home, or will it have more emphasis in only one or two rooms?"
Finish details like crown molding, wainscoting, and chair railing can take a back seat during initial home construction, with the intention of adding these special details as weekend projects.
1. Square Footage
The number one item homeowners are willing to cut back on is square footage.
Open floor plans with lots of light and convenient storage solutions are becoming more desirable.
Homeowners often consider the efficient use of space more important than adding a 5th bedroom or an expanded bonus room.
Read more about new home trends:
Contact Stanton Homes for floor plan ideas, to get a new home cost estimate, or find out more about building a custom home in North Carolina.