buying a new home

Spending more time at home = demand for bigger space

Bethany Ramos First-Time Homebuyer, Home Buying, Lifestyle

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Nothing will make you question the size of your home like sheltering in place. Because of this, homeowners have begun to push back — by insisting on more space.

In recent weeks, a growing number of realtors have reported requests from new buyers looking for larger outdoor areas and added square footage right away.

This jibes with current relocation trends of homebuyers moving out to the suburbs. Nearly 40-percent of urbanites may be looking to relocate outside city limits. Living farther apart in a suburb can provide room for social distancing.

Populated urban areas may also lack outdoor space and other key features.

Live without a garage? Homebuyers say ‘no way’

A National Association of Home Builders (NAHB) analysis published at the end of 2019, which included data from the single-family homes built in 2018, showed that:

  • 64 percent: Number of new homes with a two-car garage.
  • 21 percent: New homes with a garage big enough to hold 3-plus cars.
  • 7 percent: New homes with a one-car garage.
  • 7 percent: New homes that don’t have a carport or garage.
  • 1 percent: New homes that have a carport.

This map depicts these home features by region:

buying a new home

A garage appears to be an essential feature homebuyers are searching for, and it’s not the only one.

Hey! Don’t start house-hunting until you do this.

More homebuyers have patios on their radar. New neighborhoods commonly build community gathering places to include within their amenities. And, it looks like private outdoor areas are ranking high too.

The NAHB analysis also stated:

“Of the roughly 876,000 single-family homes started in 2018, 59.4 percent came with patios… This is the highest the number has been since NAHB began tracking the series in 2005.”

The chart below tracks how the number of newly built houses with patios has been rising steadily over the last nine years:

buying a new home

The data shows that patios are another desirable new home feature.

Feeling cooped up after spending months sheltering in place?

We hear you. That’s why we’re here to cut to the chase. (By cutting out any unnecessary mortgage delays, paperwork, and red tape.) Connect with a local loan officer who’s ready to fast-track your mortgage remotely.

For educational purposes only. Please contact your qualified professional for specific guidance.

Sources deemed reliable but not guaranteed.

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