Spanning generations and price points, 2016 home trends spotlight functionality and livability over glitz and glamour.
By Donna Shryer
Form follows function.
Thats how David Pekel recaps todays home trends in updating, remodeling and new constructionregardless of generation. As CEO of Pekel Construction & Remodeling, Inc., in Wauwatosa, Wisconsin, he hears clients requesting that everything thoughtfully serves its intended purpose. That doesnt mean austere or lacking in luxury, but it does mean the end of just-for-show extravagance.
Understanding this principle gives REALTORS® a heads up as to what buyers want and what must be emphasized at a showing. It also helps REALTORS® be the hero when boomerang clients ask for recommendations about what to update or renovate. Being ready with advice is essential, says Diana Emrich, CRS, managing broker and co-owner of Weichert, Realtors-Towne & Country, in Lexington, Kentucky. I just got a call from clients who closed nearly four years ago. They wanted me to assess their kitchen renovation plans.
Whats fascinating, Emrich adds, is that millennial first-time homebuyers want the same things as their downsizing baby boomer parents. Both generations top-rank two home characteristics, which play right into the form follows function premise. They seek a move-in ready home, with renovations as a choicenot an immediate necessity. They also want a great space to entertain. People today are more inclined to host parties, whether its a big family holiday gathering, a small get-together with friends, or playtime with the kids or grandkids, Emrich says.
Here are several home trends attracting both millennials and baby boomers.
An Open Floor Plan
(see picture above)
Architecture is about the kitchen, dining room and family room flowing into one open space, says Scott Urquhart, CRS, broker associate with Century 21 Troop Real Estate in Camarillo, California. Everyone wants to be part of the party and not locked in the kitchen away from the action, he says.
Accomplishing an open floor plan doesnt demand additional square footage, Urquhart says. Its more about repurposing space. If you rarely use your formal living and dining rooms, repurpose them to create a larger kitchen that opens into a family room.
Keep an Open Mind
If a client says, This is our dream homeexcept for the floor plan, never let them walk away without first calling in a trusted contractor to discuss opening things up. Non-load-bearing walls are inexpensive to remove. If it is a load-bearing wall, you can install a support beam or pillars, Urquhart says.
ROI
The percentage of value recovered from the cost to open up a homes floor plan is tough to pin down because construction issues affect final costs. However, a survey by Harris Poll for Trulia reports that 46 percent of todays homebuyers, regardless of generation, want an open floor plan.
Next up: Kitchen Storage with Personality and Purpose
Kitchen Storage with Personality and Purpose
According to a National Association of Home Builders (NAHB) survey, 79 percent of remodelers cite kitchen overhauls as the second most popular renovation project in 2016. As for the most popular color palette, quintessential elegance is the white kitchen, says Robi Kirsic, president of TimeLine Renovations, Inc. in Manhattan.
Soft grey, he adds, is the most common accent color, although those looking for a dramatic twist are going with deep charcoal or another rich color. To creatively interrupt a wash of white, dark-wood cabinetry and furniture pieces spice things up.
For storage, homeowners want options that serve a purpose. Theyre choosing more and deeper drawer banks, eliminating the need for pricey pullout cabinet baskets that make deep base cabinets functional. Theres also a strong emphasis on the kitchen island, which provides additional storage, helps anchor an open floor plan and gives homeowners a spot to express their personal style with creative finishes and countertop materials.
Keep an Open Mind
The No. 1 sin in kitchen updates is installing a new granite countertop to dress up an otherwise completely outdated kitchen, Emrich says. Buyers wont pay for a new countertop when the entire kitchen needs to be rehabbed.
ROI
Kitchen update or renovation: 67 percent*
Next up: A Personally and Environmentally Superior Bathroom
* 2015 Remodeling Impact Report, a joint study from the National Association of the Remodeling Industry (NARI) and the National Association of Realtors® (NAR)
A Personally and Environmentally Superior Bathroom
In a 2016 NAHB study, 81 percent of those surveyed give bathroom renovations the top spot for most common remodeling project. A strong bathroom trend is replacing that enormous whirlpool bathtubso popular in the 1980swith an oversized walk-in shower.
Its another nod to form follows function, because many Americans prefer showers to long soaks.
Bigger tiles on bathroom walls and floors are another trend, from 12 by 24 inches up to square or rectangular extra-large tiles measuring 40 by 120 inches. Large tiles eliminate grout lines for a cleaner look and less to maintain, Kirsic explains.
Keep an Open Mind
Replacing the tub with a shower is not recommended in a one-bathroom home. When its time to sell, young couples with a baby or thinking about starting a family need a tub. Without it, theyre out the door, Kirsic says.
ROI
Bathroom renovation: 58 percent*
Next up: Cozy up to Smaller, Specialty Rooms
* 2015 Remodeling Impact Report, a joint study from the National Association of the Remodeling Industry (NARI) and the National Association of Realtors® (NAR)
Cozy up to Smaller, Specialty Rooms
While the open floor plan rules, smaller rooms that serve specific purposes remain important.
In the basement, once relegated to storage or a makeshift playroom, theres the well-built man cave, which furthers the entertainment trend. Up on the main floor, entryways are being transformed into legitimate mudrooms, Pekel says. Kids today have backpacks, sports equipment, laptops, hats, coatsand the mudroom for families with school-age kids is essential.
Keep an Open Mind
Never underestimate the value of even a few square feet. A comfy chair slipped into a sunny niche creates a quiet reading nook. A covered front porch becomes an outdoor family room.
ROI
Finished basement: 69 percent*
Next up: A Soft Spot for Hardwood Flooring
* 2015 Remodeling Impact Report, a joint study from the National Association of the Remodeling Industry (NARI) and the National Association of Realtors® (NAR)
A Soft Spot for Hardwood Flooring
Wall-to-wall carpeting is on the way out. Homebuyers want hard floors, with hardwood being the most popular and large format tiles gaining ground, Urquhart says.
Wood flooring is the top choice largely because it cleanly unites multiple living spaces in an open floor plan.
Keep an Open Mind
If grungy wall-to-wall carpeting has your clients turning away from an otherwise fabulous home, Emrich offers this advice: Dont reject the property without pulling out floor vents and checking for hardwood flooring under the carpet. You have no idea how often its therecovered from day one and never even walked on.
ROI
New wood flooring: 91 percent*
Refinished wood flooring: 100 percent*
* 2015 Remodeling Impact Report, a joint study from the National Association of the Remodeling Industry (NARI) and the National Association of Realtors® (NAR)
