The economy is improving, certainly as far as the real estate market is concerned. With rising property values, some homeowners are choosing to stay and enjoy the appreciation in their real estate by remodeling their existing properties.
This is especially true for the aging baby boomer population that have the desire to "age in place." To this demographic, it's incredibly appealing to stay in the homes that they raised their families in, and sometimes making modifications such as adding a main floor master are necessary to accomplish this.
There is also a wave of young families that are buying older, outdated homes in established neighborhoods in hope of putting their own personal touch on the property. This could mean a complete kitchen face lift, tearing down walls to create an open floor plan, or even adding on to accommodate a growing family.
While this is all good news for the custom home building industry, you're probably wondering what some of the most desirable home remodeling trends are for 2015. Here are a few areas that homeowners are currently giving priority to when renovating their properties:
1. The bathroom.
Believe it or not, bathroom renovations may have trumped the demand for kitchen renovations in 2015 (although it is a very close race). Homeowners are looking to upgrade every aspect of the bathroom, from sinks and tubs to tiles and trim.
Something else that is very appealing to homeowners these days is the addition of a large soaker tub. In fact, free standing tubs are in such demand that there will likely be a decline in the use of standard tubs with shower surrounds.
2. Feature floors.
People that choose to go the custom home building route when planning a renovation are doing so with the intent of ending up with a completely unique property that has character. Feature floors helped homeowners to accomplish this in 2014, and this trend is certainly not leaving us in the near future. Feature floors can create a nice focal point in any room, from a bathroom to a large open entertaining area.
3. Seamless indoor/outdoor entertaining space.
More homeowners are looking at their outdoor living space as an extension of their homes. A prime example of this is that nearly half of all millennial homeowners have some type of open fire feature in their outdoor living space, whether it be a fire pit or built-in fireplace. Today's homeowners have the desire to add on elaborate back porches that offer the look and feel of the home's interior while offering additional entertaining square footage.
4. Multipurpose rooms/open floor plans.
An open floor plan that combines the living room, dining room, and kitchen continues to appeal to homeowners, especially to Generation X that is approaching their prime spending years (35 to 55). NARI recently reported that 38 percent of remodels will consists of multipurpose rooms/open floor plans in 2015.
To learn more about why some many homeowners are considering a remodel in the coming years, please contact us at Empire Custom Builders. We offer over 3 decades of custom home building experience in Central Florida and would be more than happy to provide some insight to today's home remodeling market.
