About half of America’s would-be homebuyers are Millennials, but many have postponed their first home purchase because of sizeable student loan balances and lifestyle choices. However, there are clear signals that more Millennials are now ready and willing to take on a home mortgage. That’s especially true in metro areas that rank high on WalletHub’s “Fun Index,” U.S. News & World Report’s “Quality of Life” index, and Meyers Research’s “Housing Availability” metric. According to the real estate market analysis, there were seven metro areas where building permits grew by 15 percent or more last year, including Orlando, Houston and Minneapolis.
Builders in those communities and elsewhere have done their homework on what Millennials desire in a neighborhood – things like dog parks and easy access to transit. Homebuilders have also noted that these young buyers have strong preferences in home cladding: brick, stone and wood (or mixed use of those materials).
When asked to rate exterior materials that are “essential or desirable,” NAHB researchers found that 66 percent of Millennials chose brick or stone – and 49 percent chose wood or engineered wood siding products. Fiber cement siding finished in last place.
Complement exterior mixed materials with LP® SmartSide® Trim & Siding
NAHB also found that Millennials’ “Top 10” list of desired home features included hardwood flooring on the main level, which calls for exceptionally strong and straight sub-flooring.
LP Legacy® Premium Sub-Flooring offers one of the industry's strongest sub-floors and keeps hardwood floors free of moisture.
There are 75 million Millennials who are now entering the prime of their careers. Just like their Boomer parents, they’ll buy homes from builders who are attentive to their needs and choose materials accordingly.
Both general contractors and building product dealers have a lot on the line when they use subs, so it’s important to understand subcontractor liability. It’s common for both dealers and Big Box retailers to hire a subcontractor to install materials like hardwood flooring purchased at their stores. GCs likewise have relationships with many trade subcontractors.Continue Reading
While many building professionals actively seek out exterior trends at the start of the new year, it’s important to keep on top of trends as we approach the latter half of 2019. Taking a mid-year look at what industry trends have dominated so far and what’s to come will ensure you are delivering your customers timely recommendations when it comes to their home’s aesthetic.
One of the most vexing problems in home construction is that productivity isn’t rising fast enough – even though there are fabulous productivity tools everywhere you look. Making a process lean and efficient isn’t always the answer, according to John Murphy from the consulting firm FMI. Sometimes a process can be scrapped entirely, which in turn causes productivity to soar. But it can only happen when all the key stakeholders – developers, designers, manufacturers and builders – tear down their respective silos and start collaborating more effectively.
The on-going shortage of skilled labor in the construction field is forcing manufacturers to find creative ways to deal with it, particularly in product design and training. First, the products themselves need to be intuitive and designed to eliminate unnecessary mistakes. Sub-flooring products offer a good example of how to design for easy installation.