A new real estate report suggest that the future of home design could be tailored around creativity and cost efficiency.
According to the National Association of Home Builders, emerging market trends could start to incorporate the use of new materials, layout and features that are creative, while also providing a high level of utility.
"Despite the ongoing challenging economy, home builders are still delivering new homes with exceptional design elements that serve the current financial and functional needs of their home-buying customers," said NAHB chairman Barry Ruttenberg.
One of the specific areas of advancing single-family home design the industry group concentrated on was about utilizing the available space within a home. New homes are being designed with more open floor plans that allow high levels of traffic, as well as family interaction. In addition, designers have also started eliminating unnecessary rooms, such as formals dens and home offices since these are spaces that aren't used as frequently.
Additionally, real estate data indicates that when building new single-family homes, designs may also become much more cost effective in the future. Rather than constructing homes with multiple rooflines. Instead, designers are creating the blueprints for homes that are more rectangular, as this layout is much more efficient for both construction and living in. In addition, rather than using just one material in the construction process, other substances, such as metal, wood and stone are added together to give new builds a more modern look.
Meanwhile, in the multifamily sector, developers are working closely with designers to create shared amenities in complexes that compensate for the shrinking size of units. These amenities include libraries, gyms, media rooms and business lounges.
In the wake of the economic collapse, a new trend in American housing saw more families opting for multigenerational living. This means that many families living under one roof are mixtures of parents, grandparents and children. As a result, designers have taken this trend into account when creating certain home designs. Once built, these properties feature home will multiple entrances or homes with two master suites, one of which is often located on the bottom floor so it can be easily accessible to the elderly.
A recent report from the Commerce Department found that the sales rate of private residential construction rose 10.2 percent in February from a year earlier to $246.5 billion. As builders regroup after the housing bubble burst, more of these new home designs could soon be making their way to the marketplace.