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Posted by Melissa Lynn Galland on Dec 29, 2017 9:00:00 AM
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According to PwC’s Emerging Trends in Real Estate 2018 report, Washington remains a hot region, with Seattle ranked as the overall number one market to watch in terms of investment and development. For homebuilding prospects, Spokane is third, Seattle sits high on the list at number ten, and Tacoma remains in the middle at 44. Combined with a consistent increase in homeownership rates and demand for new homes, this makes Washington one of the most popular places to build a custom home.

Washington Custom Home Trends to Watch

If you are considering building a custom home in Washington in the near future, keep an eye on these trends that are predicted for 2018:

Build, Build, Build!

The single-family housing market is in a position of high demand and low supply—and the building industry can’t keep up. This means it’s a great time to build investment properties in Washington. Whether you ultimately decide to rent or sell, the demand is there. The PwC report suggests that the single-family building market may be under-delivering by as much as 25 percent, which means that demand will continue to increase.

How you can harness the trend:

Don’t be afraid to build in 2018. Whether you live in your new home for years to come or decide to use it as an investment property, now is a smart time to build.

Price Check, Please

The first several years of the economic recovery saw an uptick in higher-end new homes and growth in the luxury market, but 2018 will see a shift toward affordability. Builders are seeing new emphasis on entry-level housing options, such as customizable floor plans with predictable pricing. Meanwhile, homeowners are striving to get the best value for their money, and are attracted to homes that have been value-engineered by experienced builders. This doesn’t mean that demand has diminished among homebuyers looking to upgrade, but it means that builders are offering a more diverse selection for buyers of all types.

How you can harness the trend:

Look for a builder that has quality experience in value-engineering and designing for affordability. Remember that a lower price point doesn’t necessarily have to mean a sacrifice in quality. However, not every builder has the expertise to deliver both quality and affordability, so do some research and look for past success in this area.

Loving Senior Living

The Baby Boomer generation will play a major role in Washington’s custom home trends for 2018, as many seniors are downsizing to homes that are easier to maintain. For homeowners, this means more floor plans will be available for one-story homes, multigenerational options, and single-level living with the master on the main floor. Combined with a shift toward more affordable options, 2018 is a great year for retirees to start planning a new home.

How you can harness the trend:

If you are looking to build a new home in order to downsize or simplify, choose a builder that offers suitable floor plans and allows you the flexibility to customize based on your needs.

Millennial Madness

Millennials are the other generation spiking demand in the custom home market in Washington and beyond. Homeownership has steadily increased as this generation has entered their 30s and emerged as the latest homebuying group. Much like with older generations, price points are an issue so it makes sense that this group will largely gravitate toward more affordable options that allow them to build equity early.

How you can harness the trend:

If you’re ready to build your first new home but aren’t sure you can afford it, 2018 is a great year to explore your options. Interest rates are still moderately low and many builders offer programs that allow you to participate in the homebuilding process to both lower the cost and build equity.

Homes are Getting Smarter

As one of the largest tech centers in the country, Washington homeowners will want to capitalize on the smart home trend. With features that allow you to remotely control locks, garage doors, and home comfort systems, smart homes help save energy, increase security, and improve convenience. Builders have already caught onto this trend and are offering integrated packages that allow homeowners to have a smart home from the moment the keys are handed to them.

How you can harness the trend:

Plan ahead when building a new home and either invest in a smart home package now or get set up for later installation. This includes tasks such as installing wiring for smart locks, running conduit for electric car charging, and running speaker wire for future in-wall or in-ceiling sound systems.

Stay on Track with the Trends

If you are debating whether to build a new home in Washington in 2018, all signs point to yes. The timing is right for the real estate market, and no matter what demographic you fall into, builders are prepared with the floor plans, pricing, and features you want. Start your custom home building journey today by contacting an Adair Homes design center near you.