When it comes to the architectural style of a home, some people think about resale value and others focus on their personal dream home. If visions of Colonial, Modern or Ranch homes dance in your head, it pays to go with the heart. However, a good Realtor will assist you in understanding the most popular architectural styles and projected real estate trends as it relates to resale value. According to research by trulia.com, favorite home styles depend on which part of the country an individual resides. For home buyers in our area, some of the common home styles include ranch, craftsman and contemporary. A lot of home buyers specifically seek mid-century modern homes to renovate. If you aren’t sure which style to choose, experts say the safest best is to opt for the humble ranch style home. In fact, ranch is the favorite architectural style in 34 states.
A ranch is a single story home, which appeals to aging home buyers including baby boomers who don’t want to travel up staircases. Ranch homes as well as contemporary homes have open floor plans. Built in Springfield in the 1980s and 1990’s ranch homes include attached garages with attractive brick. When it comes to projected real estate trends, experts say the ranch is making a comeback but other architectural styles making headlines include the modern home with geometric lines and a lot of windows.
No matter which style you choose, look for homes that integrate nature and the outdoors. Some modern and contemporary styles include decks, patios and outdoor living spaces. A growing trend is to build homes around an atrium or outdoor living space in the center of a home. In some cases, builders create a main living area with a separate in-law apartment space off an outdoor living area. When it comes to materials, incorporate nature with bamboo floors often found in contemporary homes. If you want to sell your home, touch up the exterior paint and update the landscaping to fit the style of your home.
Restoring the past
Another trend is to restore older homes including cottage, Colonial, Victorian and mid-century modern homes. Cottage homes often include architectural details such as leaded glass windows and arched windows that remind you of fairy tales. Victorian homes have gabled rooflines and wraparound porches. Most homebuyers find exterior paint colors from the original time period when the Victorian homes first appeared in the Springfield housing market. According to an article by HeraldNet.com, projected real estate trends include remodeled and renovated homes built in the 1950s. Homes from the ‘50s are now considered hip and historic. People like post-World War II home because of the minimalist fascination and character. When it comes to home decorating, many home buyers find it easier to decorate because of all the home décor styles based on the same time period. When renovating, opt for oak wood floors, brick or stone fireplaces and brick walkways.
Enjoying the nostalgia
When buying a home, choose a style that reflects your personality. If you grew up in a Cape Cod style home with a large central chimney, you might like the nostalgia of owning one as an adult. Other people like the Farmhouse style or the Tudor, which is a striking style with decorative entryways and slate or stone exterior.
Considering your budget
Experts say the architectural style often affects the price of a home. While many ranch homes are more affordable, some pricier homes include modern homes. Talk to your real estate agent about the price per square foot of different homes.
When selling your home
For home sellers, it is often frustrating to realize some home buyers rather own a ranch when you live in a two-story. At the same time, there are ways you can decorate and renovate your home to appeal to more buyers. If you own a modern home, you can warm it up with a Farmhouse style kitchen and Colonial furniture pieces. If people buying in your neighborhood like the modern style, consider investing in modern furniture and creating a sparser environment. Furniture, bedspreads, lighting fixtures and drapes each give your home a different style. While its cost prohibitive to change the architectural style of your home, you can make small changes even with hardware.
Researching before you buy
Before buying a historic home or one that needs work, talk to a home inspector or subcontractors about how much it will likely cost to restore the home. People who take on historic preservation projects often spend tens of thousands of dollars on the work. Some of the most expensive projects include replacing windows, stair railing and fixing problems with the home’s foundation.
Appealing to future renters
Another real estate trend is the increase in renters. Because so many people rent, it makes sense to invest in a home that would appeal to renters if you decide to turn your home into an investment property. In some cases, you might want to buy a home to immediately turn into a rental property. Some of the best architectural styles for renters include ranch homes with split floor plans, homes with basements as well as contemporary homes with more square footage and separate in-law quarters. As trends such as Airbnb continue, more home owners seek homes that cater to the need for rooms to rent. Some Airbnb enthusiasts like staying in historic homes or houses with a cozy and homey style. If you plan to rent out rooms in your home, consider a Victorian style home. A good Realtor helps you find specific styles to fit your investment ideas.
When it comes to choosing an architectural style, consider your personal goals and needs. Real estate trends tend to favor homes that have at least one bedroom on the main floor. If you opt for a two-story home, find a home with space to renovate into a bedroom or an existing master bedroom suite. Experts say multi-generational living will continue into 2017 and beyond. Meanwhile, members of Generation X often take care of their aging parents. Buying a home with plenty of square footage, three or more bedrooms and three or more full bathrooms makes sense when living with aging parents and boomerang children or those returning to the nest. When buying an older home, make sure the hallways are wide enough to walkers. Many older homes do not have wide enough doors for wheelchairs. In some cases, it’s smart to buy a newer home with universal design elements. Tour several different homes to figure out what works for you. If you plan to sell your home, play up the positive design features to attract more buyers. When renovating, preserve any interesting features such as the original fireplace, windows or arched doorways. When listing your home for sale, your Realtor will highlight the most popular features to attract the most motivated buyers.
About Realty Executive By Realty Choice. We help home buyers find their favorite architectural style in Springfield, MO. Talk to us about your home buying budget. Whether you want to buy or sell a home in Springfield, we have a team of dedicated real estate agents to help you meet your goals. For more information on projected real estate trends, call us today at 417-881-5656.