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.
While LP® SmartSide® Trim & Siding is easier to install, builders may feel pressured to skip a second look at installation guidelines in order to get a project complete on time or makeup for labor shortages. However, whether you’re a new or longtime LP SmartSide Trim & Siding user, taking the time to be attentive to proper installation will ensure you are upholding your product warranty and avoiding potential issues down the road.Continue Reading
Performance is written into everything we do at LP Building Solutions. This goes beyond the way our team members do their jobs, how we manufacture our products and the drive to deliver building solutions. We also watch, measure and steward our environmental performance. Sustainable sourcing and energy efficiency are just two ways we act as stewards of our environmental performance, but recently Ducks Unlimited Canada (DUC) and LP signed a landmark conservation agreement to support 6.2 million acres in Manitoba’s boreal forest. This agreement is the culmination of an 18-year partnership between the two organizations that was jointly released in January 2020.
The homebuilding industry is always changing, thanks to housing trends, shifts in buyer preferences, new technologies and even finance options. We recently sat down with Brad Southern, CEO of LP Building Solutions, and Mike Sims, LP’s SVP of Marketing and Business Development, to discuss the latest industry developments.
Many construction companies and remodelers have been sorely challenged by the shortage of skilled laborers. As more companies struggle to find good workers and juggle projects, many are thirsty for strategies that promise to trim time.