According to a new report by Builder magazine, “There are clear trends in house plans.” Top-selling homes are revealing that homeowners are favoring larger floor plans with first-floor master bedrooms and home offices, among other features. Looking at these top trends can help homeowners decide how to infuse their existing homes with the most value possible during 2014 remodels.
While single-story living prevails, the last year has shown a rise in two-story home designs. As the report cites, seven out of 10 best-selling designs have two stories. This coincides nicely with the fact that top-selling plans also have increased in size, now averaging 3,179 square feet as opposed to last year’s average of 2,646 square feet.
Kitchens remain the heart of the home and, therefore, need to include a functional island and must flow seamlessly into other living areas for comfortable gathering and entertaining. There’s also still a demand for formal dining rooms, despite “rumors of the dining room’s demise,” which Builder says have been exaggerated.
Home offices, studies and libraries are becoming a top priority thanks to increases in the number of individuals now telecommuting. Open concept layouts with large living rooms or great rooms can serve this function and cater to this lifestyle need are also attractive.
Finally, today’s homeowners continue to show preference for master bedrooms located on the first floor. Both parents with children and empty nesters see value in first-floor master bedrooms that provide privacy and convenience.
So how many of these trends are affecting what home projects are receiving the highest return on investment in the New England home market?
Remodeling magazine’s 2013 Cost vs. Value Report shows that in the New England region, midrange homeowners are recouping 68.9 percent of the costs of major kitchen remodels and 43.6 percent of the costs of home office additions. Upscale homeowners are getting a 59.7 percent return on investment for major kitchen remodels and 52.1 percent on master suite additions. The jobs reaping the highest recouped costs for midrange homeowners are entry door replacements and wooden deck additions, while the highest return on investments for upscale homeowners are being enjoyed with siding replacements and garage door replacements.
With expertise in a wide range of home styles including historic homes, TMS Architects can help you remodel your home exterior and interiors to achieve optimum home value, beauty and functionality. Contact us to discuss a 2014 home remodel.