New Construction on the Rise: 3 Trends to Watch
Homes are in high demand, and one segment in particular is taking off: new construction. Nearly 60% of buyers1 prefer new homes because of a lack of existing inventory and the desire for an ideal location, according to Builder2. Plus, a new home provides options for customization, and unlike an existing home, won’t come with the unforeseen expenses of repairing or replacing older features in the home. This is particularly attractive to millennial buyers who are looking for affordability and limited maintenance3. According to the National Association of Realtors (NAR), 61%4 of home buyers aged 22 to 30 purchased a new home to avoid renovations or problems with plumbing and electricity.
To satisfy this demand, construction of new, single-family homes has increased substantially and is expected to exceed 1 million5 in 2021. Here are three new home features to include in your builds that are expected to be highest on buyers’ wish lists:
Health and Wellness
Not surprisingly, keeping things clean6 continues to be top-of-mind for consumers. Due to the pandemic, there has been an emphasis on health and wellness, making new homes attractive to potential buyers. Many builders are starting to offer amenities such as better ventilation7 for improved air quality, cleaner drinking water and nontoxic building materials. Because of these health-focused features, more than one-third of potential buyers8 want a new home.
Part of building a new home focused on wellness includes making sure the space also has a laundry room – a feature that 91% of today’s buyers9 want. Dependable, high-quality washers and dryers are a must, such as the Maytag Smart Front Load Washer with Extra Power. Its sanitize cycle removes 99.9% of household bacteria with the brand’s hottest water temperature available, delivering thorough cleaning and peace of mind. Its counterpart, the Maytag Smart Front Load Electric Dryer with Extra Power also has a sanitizing cycle that uses extra-hot drying temperatures to remove up to 99.9% of three common household bacteria.
Space and Personalization in the Kitchen
Kitchens have evolved to become more than a space for preparing food. Today, it’s reimagined as a place where homework is done, where work calls are taken, and where families gather to connect and entertain. Such a multi-functional space requires unique features. According to the NAHB, double sinks and walk-in pantries10 are among the most desired features in the market in 2021. Having more kitchen space is also a must, along with more opportunities for customization.
As far as appliances go, stainless steel is still the top choice for many consumers, but buyers looking for more customization may be interested in statement ranges11, which are also trending. Add a splash of color to an otherwise neutral kitchen with the KitchenAid® 30'' Smart Commercial-Style Dual Fuel Range, which is offered in nine expressive colors ranging from Passion Red to Avocado Cream.
Energy Star Appliances
Energy efficiency is a key driver in new home buyer preferences, and as the rise in new construction continues it will be essential for builders to find ways to incorporate sustainable options for buyers. When given a choice, home buyers prefer green features12 – especially if they’re contributing to lower utility bills. Energy Star-rated windows and appliances are among the most desireable eco-friendly features. The Whirlpool Counter-Depth 4 Door Refrigerator is not only Energy Star-certified, it offers plenty of storage space for families and helps keep everything organized. Other top sustainable elements buyers are looking for in new homes include efficient lighting and an Energy Star rating for the whole house.
For additional details about our appliance offerings, contact a sales rep today. Keep up with other trends and news in your industry by visiting The Trade Channel page.