Home Building Trends to Watch For in 201716 Feb 2017, Posted by Home Building in
This year is going to be a big year for us here at Sexton-Griffith Custom Builders. Last year, and into this year, we tackled two full scale renovations, which are something that we are seeing pop up around Greenville and surrounding areas more and more these days. In 2017, many of the Baby Boomers are starting to retire and according to a 2016 Houzz and Home Survey, many of the Baby Boomers are looking to remain in their current homes. According to the same survey, the Baby Boomers are spending the most on their renovations as well. With most of these renovations falling in the $70,000 dollar range, as opposed to the $20,000 range the Millennials are looking to spend. So, these days Baby Boomers are leading the way with much more larger scale renovations, and most of them are not afraid of smart technology. This leads us to one trend to watch for in 2017:
Smart homes are classified as anything that can be controlled through a computer or smart phone. This can include lighting, climate control, security, and safety features. According to the 2016 Houzz study, homeowners who are renovating are moving towards these smart homes. It was found that before a renovation only about 20% of homeowners had any smart devices in their homes, but after a renovation that number more than doubled at 51%! One of the hurdles we are facing when renovating for Baby Boomers is budget and education. This is something that by making it a priority from the beginning can help eliminate some issues that may arise midway through a renovation.
Continued Growth in the Industry:
For 2017, we expect the growth of renovations to continue to expand and increase, just as we saw with 2016! Most re modelers surveyed plan to tackle larger budget projects and increase their marketing and sales efforts.
So, some of our takeaways for 2017 are Baby Boomers are going to become critical contributors to our industry. The majority of these are going to come in the form of renovations, large scale and some small scale as well. We’re also going to start seeing a larger move towards smart homes and smart technology integrated into these renovations, which customers are going to be looking to professionals to help guide them as well as install them. Lastly, we are looking towards the future! We hope this industry will continue to grow and move in the right direction for everyone!