New Homes Month in April, during the busy spring home-buying season, 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 on social media or television shows. 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 other outdoor areas connected to the home, contributing to buyers’ overall sense of comfort and enjoyment of their space.
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.
To learn about new homes in Massachusetts, contact your local association, here.