Local News and Information
New Homes Month in April is an excellent time to think about what you want in your next new home. Most Americans have a vision of their dream home or envy amazing renovation makeovers seen on television shows or social media. But how does your dream home compare to what home buyers across the country are looking for in their new home?
There was a brief uptick in new home sizes in 2021. However, the average size of a new home dropped slightly from 2,525 square feet to 2,480 square feet in 2022. The findings are based on an analysis by the National Association of Home Builders (NAHB) of U.S. Census Bureau data that tracks new single-family home characteristics.
It’s not the size of the home that matters, it’s what you can do with the space. The data revealed that the percentage of new homes with four or more bedrooms rose to nearly half (48%). Builders have found that buyers are seeking more lifestyle flexibility in their new homes and more bedrooms are part of that solution. For example, home offices, recently appeared on the list of buyers’ most-wanted features for the first time, according to an NAHB survey of home buyer preferences.
Flexible spaces inside the home are key, but exterior features also pique the interest of new home buyers. In a recent survey of builders conducted by NAHB, builders saw a large jump in demand for exterior amenities, such as patios, decks and porches in 2022. In response, many new homes include walking paths and outdoor living spaces connected to the home, contributing to buyers' overall sense of comfort and enjoyment of their space. Cheryl Moore with Core Homes shares, “Over the last three years, many of our home buyers discovered the convenience and freedom of working from home. However, living 24/7 within the same four walls quickly highlighted the need for dedicated rooms for work and play. Plus the desire to stay connected to fresh air and sunlight was tantamount. Home offices and outdoor living spaces went to the top of the list of our buyers’ must-haves.”
The latest new home design trends that support modern lifestyles are just one of the many reasons to buy a newly constructed home. In addition, new home buyers can choose the finishes, fixtures, flooring, paint colors and more that suit their preferences and are often more durable, without the hassle or cost of changing the previous owner’s tastes. “New construction homes offer up-to-date layouts and efficiencies over older, used homes,” says Moore. “If our home buyers decide to build from the ground up - they work in tandem with a nationally recognized designer in choosing every finish and fixture to make their home truly unique and a perfect fit for them.”
To learn about new homes in the Tennessee Valley and to connect with builders in our area, contact us here at the Home Builders Association of Greater Chattanooga or visit our member directory.