After some leaner decades in residential new construction, the number of new homes throughout the Los Angeles and Southern California area are once again trending upward. Much of this spike is to offset an increasingly low inventory of available homes as Los Angeles continues to see very strong population growth.
According to recent statistics, Los Angeles’ economic growth was responsible for bringing in more than 230 thousand new residents during the five-year span between 2010 and 2015, and this rate of growth continues to increase. With only 40 thousand new homes being built during the same period, it becomes easy to see that many more new construction homes will continue to be needed to supply the growing demand for housing.
Downsizing Into Smaller Spaces
After decades of larger-than-life homes, L.A. residents are once again opting for smaller spaces in 2017. This is especially true of younger buyers who want homes that have the luxury features they want, in a more manageable size. Instead of building large estate properties, many new construction buyers will, instead, opt for large lots with smaller home sizes, to allow for more outdoor space and use.
As in the past, new construction buyers will continue to look for locations with good schools, close proximity to work and basic needs, and a favorable quality of life, when making their choice.
Smart Technology for New Construction Homes
One of the most requested features that buyers in Los Angeles, as well as other areas of the nation, want to find in a newly constructed home is smart technology. With many new construction buyers falling into the tech-savvy millennial age range, it is no surprise that these buyers want homes with smart technology. In fact, according to a recent survey, 86 percent of Millennials are willing to spend more money for housing in which this technology is already implemented. High on their lists of smart technology options are:
- Detection and air quality technology, such as leak detection, carbon monoxide, and smoke detectors, and radon detectors
- Smart or connected thermostats capable of saving energy and providing custom comfort by learning the preferences of the home’s occupants
- Smart garage doors and home locks that can be opened and closed remotely through a smartphone or tablet app
- Smart home security cameras capable of being monitored and operated remotely through a smart phone or other web-connected device or computer
While this type of technology can be added to existing homes, today’s buyers prefer to find these features already present in the homes they purchase. By purchasing new construction, these buyers can have the smart technology features they want incorporated directly into the design of the home for a more seamless user experience.
Interior Finish Choices for 2017
Interior finishes, especially in the kitchen and bath are another area in which new home buyers are asking for new options. A good example of this is replacing granite countertops with engineered quartz surfaces that can be customized to fit the design new home buyers want. Quartz is also more environmentally-friendly than granite, as well as being harder and more durable in areas with heavy use, such as kitchens and bathrooms.
The Right Builder for the Project
Los Angeles home buyers who want to get the most from their newly constructed home should start by hiring the right builder. Advanced Builders & Contractors serves the Los Angeles area with customized new home construction services to help buyers get exactly the right home for them. Advanced Builders & Contractors are experts in guiding their clients through the new construction process while eliminating unnecessary stress. With a quality service guarantee and exceptional workmanship and customer service, Advanced Builders & Contractors offer new construction, as well as general contracting, remodeling, and home improvement services in the Los Angeles area.