Small Is the New Big: Home Size Preference Shrinks

First-time homebuyers are shifting housing industry standards when it comes to home design preferences—and, according to the latest Home Design Trends Survey by the American Institute of Architects (AIA), one of the most significant changes is the end of the era of expansive property and square footage.

Small, simply, is the new big.

“With younger households that are increasingly entering the market looking for more affordable options, home sizes appear to have peaked for this economic cycle,” said Kermit Baker, chief economist of the AIA, in a statement on the survey.

Smaller homes are generally more affordable, which is key for many first-time homebuyers squeezed by high home prices and student debt. Small homes, however, are scarce in most housing markets.

Aside from less living space, the architecture professionals surveyed see the following trends taking shape:

  • In-Home Accessibility
  • Single-Floor Plans
  • Open-Concept Layout
  • Informal Spaces

Source: American Institute of Architects (AIA)

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Outdoor kitchens became a must-have amenity for homeowners ostensibly overnight—and fell out of favor almost as quickly.

A recent survey by the American Institute of Architects (AIA), however, proves outdoor kitchens are still in. In fact, the architects cited in the AIA’s Home Design Trends Survey report an uptick in demand for outdoor kitchens in the fourth quarter of 2016.

“Homeowners continue to find new ways to add value to their homes by creating more functional space, which is apparent in the rise in popularity of outdoor kitchens,” said Kermit Baker, chief economist of the AIA, in a statement on the survey. “Kitchens have become a hub for the home—now, homeowners want to bring some of that activity to their outside space.”

Upgrades to indoor kitchens, according to the survey, remain in-demand, as well. The most sought-after add-ons include a charging station and/or computer area, a double island, high-end and/or under-counter appliances, and sensory faucets.

Bathroom improvements are also high on homeowners’ priority lists, with a door-less shower, radiant heated floors and a water-saving toilet the most popular additions.

Source: American Institute of Architects (AIA)

For the latest real estate news and trends, bookmark RISMedia.com.

The post Outdoor Kitchens: Still on the Way Out? appeared first on RISMedia.

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