I take my coffee leisurely sometimes with a dose of my trade magazine. Before the news and my email - not necessarily the whole magazine but just a snippet unless it grabs my attention as it did this morning. A previous edition of the NAHB (National Association of Home Builders) magazine had quite a few nuggets for me.
The lumber crisis of course is on their radar with ideas on how the government can help the builders/ small business owners with informing the public along with negotiation with our neighbor to the north. Another was the labor shortage and some interesting ways in which to engage young people into our industry.
The following are the ones I’d like to bring to your attention as they relate more to your interests:
What do Home Buyers Want in the future?
The 2021 edition of HAHB’s study, “What Home Buyer’s Really Want” indicated that
when there was at least one teleworker and one student participating in virtual education living in the household, the home buyer’s preferences changed overall to 35% wanting a larger home. This desire translated into more space around the home as well.
The Home took on more meaning after COVID-19 along with everything we wanted prior: the living space, the office, the classroom, the gym! The outdoor space became even more important and required that the wifi extend to allow us to take our work and studies to all the spaces including those outdoors.
The family still enjoyed the open layouts and together space but needed “doors” and closed privacy spaces for work and play that did not interfere with others’ functions throughout the home. So some spaces may get altered and adapted to the many functions we need along with the privacy needed for each.
The home buyers need for technology (wifi, Security, energy efficiency, etc.) and health (multi-zone HVAC) was paramount.
Pandemic Alters Perceptions of Space and Density
This idea of extending our functionality to the outside world was felt by other entities as indicated in a discussion by real estate professionals. This can happen only when we are fully connected inside and out.
“There will be a huge net gain for telecommuting - working from home”, said Dean Wehrli,PH.D.,Principal, John Burns Real Estate Consulting in Sacramento, California.
“If I had to pick one massive trend, its indoor-outdoor connectivity,” Wehrli said. “It innately provides this rush to the outdoors that we have felt because of COVID.