My wife Tammie and I work as a team, and recently we have been showing quite a few new construction homes. In our area new construction is booming, probably due in some part to the extremely low inventory of existing homes. In showing these new homes, we've both noticed that the new construction homes seem larger than just a few years ago.
I suppose this should be no surprise to anyone who is selling new construction. Information recently released by the National Association of Homebuilders (NAHB) makes it very clear that new construction homes are definitely getting bigger. A lot bigger. And in places you may not expect.
Average new home sizes rose from 2,362 square feet in 2009 to 2,679 in 2013, an increase of 13%. Where is this additional space going? One place is additional bedrooms. According to the NAHB, 48% of new homes had 4 bedrooms in 2013 compared to 34% in 2009.
Bathrooms are another area in the home where additional square footage is to be found. In 2010, 23% of new homes had 3 full baths. in 2013, 35% of the homes had 3 full baths.
The most popular features in new construction for 2014, according to the NAHB, are great rooms, walk-in closets in the master, and low-e windows. In fact, energy efficiency is a prominent theme for 2014 as new buyers are putting a lot more emphasis on energy conservation. The desire for Energy-Star rated appliances, programmable thermostats and Energy-Star rated windows has been increasing.
Of course additional square footage comes at a price. The NAHB states that the average new construction home price rose from $248,000 in 2009, to $318,000 in 2013.
During this time of extremely low inventory, many home buyers are taking a very close look at new construction. It might take just a little bit longer to see those homes, because they're definitely getting bigger!
If you are interested in Franklin TN new construction homes, contact TW Realty Group at (615) 495-0752.
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