2010 was a golden period for home construction. There was never a better time. The demand for business premises and homes was high. Functionality, design and material options were varied and diversified. This was all happening after the 2008 financial crash that severely affected public spending. As the real estate sector started recovering, the focus was on green credentials in terms of sourcing, supply, materials storage and use. Also, builders were rethinking approaches to the use of renewables, recycling and waste disposal. New construction trends at that point included computer-assisted design (CAD), urban concentration and SMART constructions for the optimization of available resources.
Since new home designs are forever-changing based on homebuyer preferences and the latest trends, what was ideal in the 1950s or even in 2010 is not necessarily what homebuyers are looking for in 2020. Take a look at how homes are built differently today than they were a decade ago.
Buying a Home Comes Down to The Location
Location is just as important to homebuyers in 2020 as it was 10 years ago. However, today, the things offered by the location seems to be much more important than the location itself. For instance, new homebuyers in Kolkata are preferring to purchase a 3 BHK Apartment in North Kolkata because of its proximity to Sector 5 (the IT hub of the city), airport and public transport accessibility, especially metro.
Millennials and Generation Z homebuyers, in particular, are entering the housing market to find a home from where they can easily work remotely from the comfort of their couch. They do not wish to take on the daily commute and want to have all the amenities and facilities immediately available to them. Their focus is on purchasing a home that offers them everything, without them having to step out. Some of the conveniences and comforts that they want in close proximity include supermarkets, retail stores, restaurants, shops, schools, colleges and hospitals. So, new home construction is adapting to meet this demand. This is one of the reasons why metro cities like, Kolkata, Mumbai and Delhi are seeing new construction in large numbers, but there are very few single-family attached homes in areas that are densely populated.
Use of Smart Construction Technologies
Over the last 10 years, technology has improved massively. The trends in construction technology are wide-ranging, from artificial intelligence and cloud-based collaborations to the development of wearable tech and pollution-eating buildings. Any good property developer that you’ll find today will be emphasizing on energy-efficiency. The focus is on the implementation of new technologies to enhance the functionality of homes, such as home control systems and smart thermostats.
But, the advances in technology does not just stop with making a home energy-efficient. In 2020, you can see homes being constructed with new technologies like, LiDAR, drones, VR & AR, 3D printing, BIM software and so on. Also, you will find buildings using new materials so that homes are earthquake-resistant. Thanks to all this technology, the turnaround time for building new homes is getting dramatically reduced.
More Bedrooms and Larger Space
The lack of housing in the highly-populated areas may make you believe that small is the solution for homebuyers or what they’re looking for, but that is not what new home buyers want. Over the past decade, the sizes of new homes have increased. The average square per foot has increased. Also, homebuyers prefer homes today with more bedrooms because privacy is of utmost importance to them. An apartment with 2 bedrooms is standard for a small family, but even then, couples with a kid prefer living in a spacious 3BHK flat. This gives them more room to go about their daily chores and stay together while maintaining their private spaces. However, one trend that hasn’t change is the construction of two bathrooms. This continues to dominate the construction trend.
Trends are always going to change. As new technologies are introduced and homebuyers’ demands evolve, the construction industry is going to remain in a constant state of flux. Property developers are doing their best to meet the demands for affordable housing while not sacrificing the facilities and amenities that homebuyers expect. Also, a number of developers are providing ready to move-in apartments that are fully furnished and trying to lure homebuyers by providing lucrative offers and deals for a limited period.
With the COVID-19 pandemic outbreak, industry insiders expect home construction and interior design to undergo another sleuth of changes. Since people are expected to spend more time indoors, home is going to have to accommodate for not just their leisure, but also work requirements. So, if you are currently on the lookout for your dream home, make sure that you have a clear idea in your head of what exactly you are looking for.