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What's HOT In Real Estate?
What’s Hot in Real Estate?
Just like cars, clothing, and anything else that people buy with their hard-earned money, real estate goes through many a trend. The answer to what's hot in today's real estate market can be found by looking at new houses being built as well as popular renovations being done to older properties. If you consider the lifestyle of today's families, it's not difficult to see why these trends are becoming so big- and why they're likely to stay around for awhile.
Today's homeowners want open spaces more than almost anything. Even if a house is small on square footage, the lack of walls and enclosed areas is a big plus in today's market, where people want a feeling of freedom and luxury. Low ceilings, solidly divided rooms, and narrow entryways are relics of the past that can still be found in many homes built in the 70s and 80s, and people are paying big money to have those features removed and renovated. More and more new homes are being built with cathedral ceilings and front doors that open directly into large living spaces. Even a smaller house, built with a lower budget and sold with a lower price tag, can benefit from losing a few walls and gaining a feeling of open space. This trend is all about the sensation you get when you walk in the door: Today's homebuyers want houses that feel big, even if they aren't.
Speaking of size, there are two rooms in today's homes that are increasing in popularity, and thus in average size. These are the kitchen and the master bedroom. Today's home builders and buyers are willing to sacrifice some space in other areas, like the family room or the bathrooms, in order to have a large informal eating area or a double-sized master bedroom. Kitchens with a breakfast bar that overlooks the living room, and master bedrooms with their own baths and even outdoor patios, are huge selling points in today's market that can outshine the fact that a house might be a little lacking in other areas. It has to do with the way families are living today, experts claim. With hectic schedules and little time together, meals are becoming more and more important, and working parents like to be able to have everyone together in the kitchen, or near it, while they're cooking and serving. As for the popularity of large and luxurious master bedrooms, the reasoning is obvious: Today's busy homeowner has a very strong desire for rest and relaxation. A good-sized master bedroom provides a retreat and a private area for the grown-ups in the house to have to themselves.
So if you're planning to sell your home in the near future, or if you're hoping to build or renovate a house for profit, take a good look at these current trends. Regardless of the size of your particular property, adjusting it to match what homeowners want most in today's market can result in big payoffs.
Carlo Gobba began his real estate career in 1996 and has now successfully sold over 1,100 properties totaling over $150 Million in sales. The average agent sells just 8 per year so (this is like havin....