What Are The Latest Housing Trends in 2023January 10, 2023

The drastic communal and working changes brought on during the Covid-19 pandemic caused people to reevaluate their needs and wants for a home.  Many people have migrated from cities to more rural areas as a result of more flexible work environments.  Some have traded a longer commute in exchange for a simpler lifestyle.  In recent years, developers have seen an increasing demand for

• Larger Yards
• Walking Trails
• Community Parks
• Communal Gathering Areas.

Builders have seen an increasing demand for…

Large Yards

• • Lower density zoning has become a rarity when developers are able to maximize profit by increasing lot counts. However, the best developers take into consideration the buyer’s needs and wants. Today’s buyers want to still feel like they are a part of a community, but not living on top of each other. Additionally, large yards are great amenities for families with children, pets, pools, or a desire to entertain outdoors.
  • Landscaping & exterior lighting is also a plus in transforming a yard into a more inviting and enjoyable outdoor space.

Outdoor Living Features like –

• • Large Screened Porches
  • Patios
  • Pools
  • Outdoor kitchens, grills & firepits
    • Our backyards became our oasis during the pandemic, and it appears as if this is a trend that is here to stay. With more emphasis on outdoor living, an area on the home that is open but covered or even close in proximity to the main structure has become more popular. Homebuyers are looking for a place where they can sit outside and drink their coffee, entertain guests, or watch their kids and pets play.

Office Space

Whether you work from home or need a place to concentrate, meditate, or relax, having a designated room to ‘get down to business’ has become a must have for the modern buyer.  Flex spaces and offices have seen a surge in popularity and can be crucial when considering the functional longevity or even resale value of the home. The pandemic has opened up a whole new world of possibilities with the expansion of hybrid and remote working which have powered this increased desire for a dedicated office space.

Energy Efficiency

• • With more time spent at home and home expenses increasing, homebuyers are interested in saving money on their energy bills with energy-efficient appliances, lighting, and windows. In a housing market where affordability is a continual concern, energy efficiency has become more of a priority, because no one wants to spend their hard-earned money on wasted energy. Additionally, younger buyers have more concerns about climate change and reducing their carbon footprint.

Storage

• • To help with affordability, more people are living with their adult children, parents, and other non-traditional co-buyers, so storage space can also be a major concern. This means everything from the kitchen cabinetry and pantry, to closets, shelving, and garage space are highly desirable to buyers. Laundry rooms are also a top priority utility and storage space. Being able to keep the mess and storage associated with doing laundry behind a closed door is an advantage to buyers spending more time at home.

Connectivity

• • With the amount of time that people are spending and working at home, reliable high-speed internet is a necessity. With the increased opportunity to work remotely, many homebuyers are prioritizing high-speed internet and even requesting technical information about internet structure, download speeds, and Wi-Fi coverage. Homebuyers want to make sure they can support all their work video calls and streaming needs.

First Floor Primary Bedrooms or Owner’s Suite

Dual Primary Bedrooms / Owner’s Suite or Dual Owner Suites

Ranch Floor Plans

• The increasing costs of building a home and rising mortgage rates have pushed many first-time buyers to reevaluate their living conditions. As a result, Millennials, Generation Z, Generation X, and Baby Boomers have combined their resources and created a demand for floorplans that allow parents, children, and sometimes grandparents to live together. Homes with either Dual Owner’s Suites or Ranches have surged in popularity as a way to increase the client’s buying power and house multiple generations under one roof.

All these elements suggest that there is a need for

• Multi-Generational Living
• Work From Home Space
• Outdoor Entertaining Space
• Slower Lifestyle

Virginia Builders views the home and the home site as inseparable elements, and takes all of the abovementioned criteria into consideration when designing a custom home and the property or development where it will reside.

In 2023, Virginia Builders will be building in two unique areas that will offer large lots with extra room to stretch out and kick back after commuting or working from home.  Woodford Estates in Chesapeake, VA and Tower Hill in the serene Eastern Shore (Cape Charles / North Hampton County) offer beautiful lots large enough to accommodate multigenerational, affordable and luxurious floor plans, with dual owner suites, walking trails, rear covered porches for outdoor living and entertaining, and much more.

Wondering – How can I qualify for a new home?  Contact one of our experienced loan officers today and let them guide you through the process of making your dream become a reality.  Virginia Builders has partnered with Old Point Mortgage, who offer creative and successful solutions to qualify buyers with low rates.

Have your own piece of land, and would like Virginia Builders to work with you to create a custom home?  Reach out to one of or dedicated Sales Associates and get started today!