Housings Biggest Trends

My last post highlighted some housing trends that are on the way out.  Do you wonder what some of the biggest trends are?

·         Smaller footprints.  Maybe it is all the baby boomers and empty nesters that are driving this trend but people are downsizing in a big way.  Less space to clean, heat/ cool, furnish…the savings add up!

·         Great rooms.  Still going strong.  The kitchen/ family room concept creates a hub for activity in the home.  Builders are building them that way and many homeowners are remodeling their existing homes to accommodate the trend.

·         Kitchens.  If you are going to be living in your great room, the kitchen better be good!  People are willing to spend a little more in the kitchen since it is not only the heart of the home, but now it is on display as such.  People love islands!

·         On suite bathrooms.  The master bath is a given in newer homes.  But many buyers find guest rooms and kids’ rooms with their own bath very appealing.  It is more affordable that you would think.

·         Closets.  You can never have enough. Period.

·         Creating a “smart home”.  Adding things like charging stations for all your gadgets in the kitchen or office is becoming more popular as is having homes hardwired for mounting TV’s.

·         Renew and reuse.  Home buyers are looking for homes that are environmentally friendly, sound,  and use sustainable products in their construction.

·         Hidden garage.  New homes are often being built with the garage off to the side of the home so it is not visible from the street.

·         Curb appeal.  Houses are being built in a wider array of colors than ever before.  They are also being highlighted by thoughtful landscaping which sets the tone for what you expect to find inside.

Housing trends on the way out

If you are looking to buy a new build home this year there are a few trends that you will seeing less and less of.  Many home buyers are looking to use their space more efficiently and desire a smaller footprint and builders are listening.  Here are some trends that builders are not planning on using so often in their floor plans:

·         Formal living rooms.  These have been slowly going out of style over the last several years.  Builders are listening to demand and creating open spaces that include the kitchen, living room, and family room all in one. 

·         Overtly luxurious master baths.  Spaces are not quite as grand and are using less of the bells and whistles like multiple shower heads and aromatherapy.  Buyers still want a nice bathroom but one that combines form with function in a more traditional way.

·         Two story ceilings.  Whether in the family room or the entry way, overly vaulted ceilings are viewed as space that needlessly needs to use energy to be heated or cooled.  Listening to buyers, builders are now using that space for a room – or bigger closets.  Buyers still want high ceilings…just not that high.

·         Over the top outdoor spaces.  Features like outdoor kitchens and fireplaces look neat but can add a large sum onto your final bill.  Buyers are realizing that they may not use them as often as they imagine and consequently they are being included in building plans less and less.

New Rules Regarding Fannie Mae and Your Credit Report

Did you know that starting on June 1, Fannie Mae is requiring all lenders to check borrower’s credit reports in the final days and moments prior to closing?  Wondering how this can affect you?

Let’s say you were pre-approved for a mortgage 4 months ago.  You found the house of your dreams and your offer was accepted.  While waiting to close, you decide to open a new credit card or finance a new car which creates new debt obligations for you.  Your new debt obligation will now show up on your credit report and your debt-to-income-ratio may now be higher than the lender allows.  This could cause last minute delays for you at closing.

The moral of the story is to think twice before taking on any new debt prior to closing on your home.  This is especially true if the purchase price of the home is at the top end of your pre-approved loan amount. It leaves you very little wiggle room and you could lose the home in the process. Wait to make those additional purchases until after closing. Preplanning and knowing what to expect throughout the entire buying process is crucial.

Container Gardening

The early spring we are having in Minnetonka, Wayzata, Eden Prairie…well, OK, in Minnesota, has had me thinking about getting outdoors and working on some curb appeal. 

A really easy way to make your home “pop” is with your landscaping.  You don’t have to go all out and spend big bucks to make an impact either.  Flowers give you a big bang for your buck especially if you follow a few easy rules when planting.

For instance, when planting your window boxes and planter pots think about the scale and density of your plantings.  You want the colors and textures to be seen from the street.  Many people choose plants that are too small and they just end up getting lost in the container.  When choosing plants, remember that you are going to be burying half of what you see I the soil (the part of the plant that is in the container).  All of the sudden, a plant that is 12” in your cart is now 6” once planted.  Buy the largest plants that make sense for your budget.  Also, pack your plants in…where you may have used 5 plants before, use 7 or 8.  Your plantings will look substantial to start and absolutely stately by the end of summer.



Image courtesy of morguefile



Another thing that I like to do is use a real quality soil in my containers.  I use a product like Miracle Grow oil which comes with a time released fertilizer as well as a technology that helps the soil remain moist.  If you are over planting your containers as highlighted above, they are going to need lots of water and extra nutrients.  Good soil makes it a no brainer so all you have to do is water occasionally and enjoy.   

An easy way to give your planters and window boxes inexpensive height is using thin, willowy branches – like Curly Willow.  Once your plantings are done, pop a few of the branches towards the back of the planter and you get instant height and unique texture on the cheap.  You can even use interesting branches you find around your yard, for free.

The big box home improvement stores, local hardware stores like Ace, and even grocery stores have really good prices on plants.  

Easy Window Film Project



From Light Effects



Do you want a little privacy but do not necessarily want curtains or blinds in your windows?  I recently stumbled upon some window films that solve this problem beautifully and inexpensively.  They are also very easy to remove so you don’t have to worry about making a big commitment if you grow tired of the look over time. You can find them at home improvement stores and they come in a variety of textures and patterns.  The most common brands are Artscape and Light Effects.



From Light Effects



The films are really easy to apply.  Simply measure out the size of the glass you wish to cover and cut out a piece of the film to those measurements with an Exacto knife (for cleanest edge) or scissors.  Next, make sure your window is clean for best adhesion.  Finally, peel back the top of the paper backing from the film, spritz the window with water, carefully line up the window film, and press the film into place.  You will work out any air bubbles as you go.  There are very concise directions on the actual packaging…but it is a snap!



From Artscape



Another way to get a frosted glass look on the cheap is using clear contact paper.  Application is nearly the same except you don’t use any water.  You can even get some paint pens and draw your favorite designs or quotes on the contact paper.  If your kids want in on the act, consider letting them add their artistic flair and draw a picture on the contact paper. 

Think outside of the box…this project does not have to be only for windows facing outside!  You can spruce up a French door or shower door as well.