The Future Of New Homes

Man has always looked to future as the pinnacle of progress. Since the industrial revolution, the rapid development of technology has pushed us closer to our goal. Transportation and housing have always peaked our interest when looking to the future of design. Many movies, books, and even television shows have been set in the distant future. Futuristic residential constructs have been depicted on the Earth, the moon, and even distant planets, but how realistic are their designs?

When comparing the energy efficient designs of new homes to the dwellings of the past, it's truly remarkable how far we have come. Even just forty years ago, asbestos was being used as a miracle mineral for insulating buildings. Now, we know the medical consequences of using asbestos and can use safer alternatives in the design of new homes. There have also been drastic improvements in the design of windows from double pane glass to radiant barrier windows. With the many developments made to improve energy efficiency in houses, the question is - what's next?

In the coming years, the design for new homes may change drastically. In urban areas, there is a major fight for space. With overcrowding in Hong Kong, Tokyo, Sao Paolo, New York, and cities all over the world, there is a great need for efficient design. Architects have gone to the drawing board, developing possible solutions. The designs are all as stunning as they are effective. Of course, these designs are mostly hypothetical, but they could become a reality if populations continue to grow. The designs utilize space in creative ways, from stackable units, to interconnecting "terra" towers, to overhanging houses that occupy the unused space above roads. The possibilities are endless, and that's why it's so fascinating!

Perhaps it will become standard for houses to run on solar power. The roofs of suburbia would be lined with solar panels. Or, it's possible that residential areas could become self-sustaining ecosystems on the moon or Mars. Who knows? That's why we will continue to look to the future, taking residential development in strides. After all, indoor plumbing wasn't used in most homes until the 1800's. Look how far we've come! Now, new homes can have spa tubs, floating vanities, waterfall showers, and more. That's all just in the last 200 years.

Looking at our recent depictions of futuristic houses, it's safe to say that designs will be made sleeker and cleaner. Most futuristic designs show all-white rooms, with clean lines and hidden storage. The streamlined aesthetic allows for optimal use of space. On the other hand, there has been a major push for the eco-friendly materials, which has generated the market for recycled construction materials. From recycled glass windows to recycled composite countertops, newer buildings are going green.

What To Do If You Are Thinking Of Selling in 2014

The property market is starting to change. With renewed confidence in the market aided by the Help to Buy Scheme, whether people are taking part or not, more buyers are definitely out there than there have been for a long time.

And with demand for property on the up, from a sellers perspective, things are getting easier to move too. With property prices in some areas recovering to 2007 levels, it means less homeowners are in negative equity and with just a 5% deposit to have to find, its possible to contemplate moving on.

For those who tried to sell up during the credit crunch but couldn't, it's also worth thinking about trying again, especially if your property is in a price bracket which would appeal to first time buyers. First time buyers, according to CML, tend to spend up to £150,000, but bear in mind, this includes London, so it's likely to be £150,000 to £250,000 in London and Home Counties and under the £100,000 mark everywhere else.

So Who Should Sell in 2014?

If you want to trade up and you don't have a big deposit, as long as you can afford mortgage rates of 5-7% over the next five years, then it's definitely worth thinking about trading up and taking advantage of the Help to Buy Scheme.

You can typically secure mortgage rates of 3% for Help to Buy on an new build, whereas the scheme for existing homes rates are around 5%.

You need to check what's happening market wise to make sure the 'pick up' reported in the media and house price surveys is actually happening in your area. Look on sold property prices on the likes of Rightmove and Mouse Price to see if properties are selling near to or for more than 2007 levels. If they are still selling for a lot less, talk to local agents who have sold properties similar to yours and see what prices they have secured.

If you are looking at trading down, then the most important thing is to move when it suits you. It may be that you have been stuck in a property you can't sell but are getting divorced and are desperate to move on. It may be that you are in debt or a member of the family hasn't been well and when these life events happen, it's more important to try and move on to a better place than worry about maximising your property's price or rushing into buying something which isn't right.

It will be difficult to find somewhere to live in most areas, as you will probably be competing with first time buyers who are after one and two bed properties.

Key steps you need to take if you are thinking of selling in 2014 are:-

1. Check on sold property price data to see what similar properties have been selling for
2. Talk to local agents who have sold properties similar to yours as to what price they are getting
3. Make sure you speak to a broker about financing your move and a local Help to Buy agent

Then, work out whether you should sell your property as a 'show home' or just as it is. Since the credit crunch, with such good mortgage rates with high deposits, people don't have the money (or time) to do up properties as much as before. Those that do want a wreck to do up are typically after a bargain price, so it's a good idea to chat to local agents about whether you sell the property without any work doing to it, or spending say 1% of the asking price painting and decorating so someone could 'move in' and start living there from day one.

Home Builders and the Incentives They Often Offer

Just like any other market, home builders and those in the industry know that there are highs and lows. There are times when it is impossible to keep up with the demand, with buyers constantly coming in. Then, there are times when things are slow and it seems impossible to get even one or two new houses built. When this happens, incentives are offered to encourage people to take a second look at one or more of the lots in the community.

Upgrades Within the House Itself

As the buyer looks around the design studio and sees all of the different ways to customize his or her new house, there are tons of different options to choose from. Most people come into the studio with a budget and don't want to venture too far away from the amount of money they plan to spend. Home builders may offer to give a buyer some extra money to spend on the property. In some cases, specific upgrades are offered, such as granite countertops or tile as opposed to linoleum in the kitchen and bathrooms. Other times, the buyer is just given an extra amount of money that can be spent however he or she chooses.

Buyers like the idea that they can make customized changes to their living space and they do not have to come up with the money to cover the costs. It gives them the freedom to pick and choose options that they may not have been able to consider when they first started looking into buying a new house.

Upgrades to the Property

Different lots often come with specific premiums. They may be larger than other lots in the community or back up to a common area as opposed to another house. Either way, the buyer is going to pay more for this lot than one of the others. As an added incentive, home builders may offer a special lot with a reduced premium or with no premium at all. Other incentives include things like special landscaping in the front or backyard, or even the addition of a pool.

Other Incentives Unrelated to the Property

In some instances, financing through home builders' company will give a buyer a better interest rate or even reduce the amount of money needed for a down payment. If a person is right on the edge of being about to afford a certain house, this type of discount can make a huge difference. This type of offer is usually written down so that potential buyers have an opportunity to figure out the details and see if this is an offer worth taking advantage of.

The incentives and upgrades often correlate with the company's desire to sell the houses or complete a property. There is no guarantee that when you walk in to check on a specific model that the discounts will be offered.

Benefits of Buying New Homes Versus Already Established Properties

When comparing properties, new homes tend to stand out. They are often in newer locations and tend to be part of a growing community. Buyers often take a second look at properties that make them the first residents ever to live in the house. There are real benefits to be considered before making a decision.

Price and Extras

Don't be intimidated by the assumed cost of new homes. It is easy to believe that these properties are going to cost much more than already established houses. However, don't rule them out until you have spoken with a builder's representative or a real estate agent. Look at the overall cost, what you are getting in return, and the extras and upgrades that you may have access to at a lower price.

When you take on a remodel project in an older house, the cost adds up quickly. Even if you just want a modern kitchen or improved flooring, it could cost more than just having it added to a property already under construction. Consider more than just the mortgage payment. Think about the cost of the upgrades and even the costs in the future. You can be sure that you will not be replacing any of the appliances or major systems of the home any time in the near future. Everything should have some type of warranty.

Making All the Decisions

Aside from the value, it is fun to go and pick out all of the details in new homes. You get to choose the flooring, the color paint, and in some cases, even the layout of the house. You can add an extra room or move the bathroom to a different location. Being in charge means that you are able to create a living space that is exactly what you want.

Take your time in the design studio and look around at all the different options. Remember that you are going to be living in this space for the next several years and you want to get everything that you want from the very beginning. The day that you move in, there is no work to be done and no project that you need to complete. You just get to move in and start getting settled.

Increase in Value

Many times new homes increase in value the moment that a community is complete. While any house or property is an investment, these locations tend to see an immediate increase in value. Those that moved into the properties at the very beginning often get the best deal and those that purchase the last few also tend to get discounts. This quick increase in value comes in handy for those looking to get in and get out, making money to roll over into their next property.