New Home Source Blog

What we really want in a home

2008-06-05T11:12:31-05:00

Today’s buyers want more features in their homes and, given our 24/7 lifestyles, they mostly involve relaxation.

According to the National Association of Home Builders' annual consumer preferences survey, “must-have” features include decks, patios and homesites with trees. Walk-in pantries, islands/work space, solid surfaces, built-in microwaves, and designated storage areas were tops in the kitchen, while linen closets, separate showers and whirlpool tubs were important in bathrooms. Overall, buyers also want more storage in a new home – and lots of it – in every room of the house, including the garage.

Powered by the Sun

2008-06-04T13:09:43-05:00

Using the sun’s energy for power could soon become commonplace for new homeowners in Hawaii. According to a recent article in the Honolulu Advertiser, the island is on its way to becoming the first state in the U.S. to require that all new single-family homes come equipped with energy-saving solar water heaters beginning in 2010.

With the price of oil at more than $100/barrel, using the sun as a power source is also a powerful financial alternative: estimates report that electricity costs for an average new home could be cut by up to 35 percent, simply by using a solar water heater. Hawaii currently offers a solar energy tax credit for homes built before 2010; there's also a federal tax credit available.

In related news, a Roper survey found that nearly 90 percent of Americans think that solar electricity should be an option for all new home construction, with three-fourths of respondents saying that solar power is “more important than ever.”

Green Living is Easy in a New Home

2008-05-29T10:07:47-05:00

New homes today are greener than ever - and that’s a big plus for homeowners.

Today’s new homes are considerably more energy-efficient than homes built even five years ago, largely because of higher-quality, higher-tech materials and good building science.

As a result, new homes are better at holding in hot and cool air in winter and summer, helping us save money all year long. Many builders are also offering low- or no-VOC (volatile organic compounds) options for paints, as well as cabinetry made without formaldehyde, helping us breathe easier and contributing to increased indoor air quality.

Starting a painting project soon? The National Association of Home Builders recommends choosing paints that have been independently certified as low- or zero-VOC. For example, Benjamin Moore’s EcoSpec line is certified by Green Seal (www.greenseal.org) and the Greenguard Environmental Institute (www.greenguard.org), nonprofits that test, certify and promote low-emitting interior products.

Is Bigger Really Better?

2008-05-27T11:23:36-05:00

Homebuyers over the last 30 years seem to think so, with houses that have been "supersized" - just like expanding waistlines, fast food meals and gas-guzzling SUVs. The average home size in 1970 was 1,500 square feet. But, in 2003, just 22 percent of the new homes built were less than 1,600 square feet, with 41 percent of the new homes built were between 1,600 and 2,399 square feet, according to the National Association of Home Builders.

Luxury Home Must-Haves Are "Stress-Free"

2008-05-23T10:20:00-05:00

Making money is stressful, especially if you’re making a lot of it. So, it’s not surprising that today’s luxury home buyer’s “must-have” features encourage a stress-free and eco-friendly environment.

According to the American Society of Interior Designers, keeping up with the uber-rich Joneses means having heated bathroom floors for warm tootsies, state-of-the-art saunas, towel warmers, eco-friendly woods and non-toxic building materials, and technology that controls virtually everything in the house. What are YOUR must-have little luxuries? Let us know!

Homebuying Habits

2008-05-22T09:58:00-05:00

Having trouble making that all-important home purchase decision? You’re not alone.

According to a National Association of Realtors survey, a typical homebuyer walks through 9 properties, searches 8 weeks to buy a home and moves 12 miles from their previous residence into the new home.

On the selling side, the typical seller’s home was on the market for 4 weeks, they lived in it for about six years, typically moved just 15 miles to their new home, and had previously owned three other homes, including the one just sold.

Chicks Rule - but now it's official.

2008-05-19T11:43:22-05:00

Single women are the fastest-growing group of homebuyers in the U.S. – they made up 22 percent of all buyers in 2006, while single men represent just 9 percent of buyers, according to a National Association of Realtors study of homebuyer and seller preferences. A study by the Center for Joint Housing Studies at Harvard University also found that more than one in five buyers is a single woman; twice as many unmarried women are buying homes than single men; and single women make up more than one-third of the growth in real estate ownership since 1994.

Hollywood for Sale?

2008-04-22T11:53:41-05:00

It would appear that fame, indeed, can be bought. Or at least a house right next to it.

A Chicago investment group that owns a 138-acre parcel of land purchased from the Howard Hughes estate in 2002 is selling it for $22 million. Its location? Just above and to the left of the famous, 45-foot-high “Hollywood” sign in Los Angeles.

The potential real estate deal on Cahuenga Peak has residents worried that mansions might be built near the sign, marring the view and the history of the sign. But the real irony is that the huge sign was initially built in 1923 to promote – what else? – real estate.

National Association of Realtors: Housing Market on the Upswing in 2008

2008-04-21T11:11:26-05:00

Recent forecasts from the National Association of Realtors see “little change” in existing home sales – but not for long, with “notable improvements” expected in the second half of this year.

“Existing home sales could start to show a sustained increase within a few months, unless there are some additional economic problems or excessive inflationary pressure,” said Lawrence Yun, NAR chief economist. “We’re looking for essentially stable sales in the near term.”

According to NAR estimates, existing-home sales should rise from an annual pace of 4.9 million in the first quarter to 5.9 million in the fourth quarter.

Ways to Save Money at Home

2008-04-17T10:28:06-05:00

More consumers are tightening their collective belts in response to slow economic times, trying to save money where they can – whether it’s forgoing that morning latte or renting movies for free from the library.

Consumer-Action.org offers “66 Ways to Save Money” in all areas, including airline fares, car rental, new and used cars, utilities, housing and more. Here are a few good home tips you can use today:

- Get a home energy audit, which can identify ways to save hundreds of dollars each year on home heating and air conditioning costs.

- Review your phone bills for the previous three months to see what local, local toll, long distance, and international calls you normally make, and then call several phone companies to find the cheapest calling plan.

- If you’re planning to buy a major appliance this year, consult Consumer Reports first. Once you’ve decided on a brand and model, call at least four stores to compare pricing. You could save as much as $100.

- Remodeling this year? Get at least three bids from licensed, well-established contractors, preferably recommended by friends or colleagues.

Click here to discover more tips to save money at home on the Consumer Action website.