The construction industry has been on a veritable rollercoaster ride for the past decade, ranging from plenty of work to go around to crushing halts. The construction companies that stayed in business through it all are the ones that rolled with the punches and kept up with the trends.
You could grow your business to even higher levels if you pay attention to the 5 trends that will shape construction business in 2017.
1. Open Floor Plans
Open floor plans continue to be highly sought as families have learned this makes for easier entertainment and a more welcoming atmosphere. Construction companies are wise to develop floor plans that feed this demand.
Creating abundance of usable space such as these open concepts inside the home.
- Taking out the tiny hallways and opening it up so there is no wasted space.
- Kitchens that opens to the dining area
- Glass and lift-and-slide doors designed to give the feeling of being outdoors.
The need for efficiency of their spaces is now important for a comfortable and more light coming into the home is the key.
Even though the economy is improving, many families are still remembering the pinch and they are still looking to cohabitate. Adult children are moving back with parents, for example. Also, with the high cost of retirement living facilities, many seniors are finding it cheaper to add a room to their children's home.
Home remodeling to use basements and attics as living space, as well as add rooms to a home, is a growing market ready to be tapped.
With the popularity of such television shows as Tiny House Nation plenty of people are considering downsizing. This isn't always to the extreme of squeezing into a 200 square foot micro-house but it does give the construction industry a new niche to fill. Imagine how quickly the turnover is when you are a building a home much smaller than the typical 2,000+ square foot home.
The attractive nature of the tiny houses are its innovative designs and the ability to have the homeowner's lifestlye in mind when building. This includes using higher ceilings and being creative with storage space. Most tiny house homeowners like to live the simpler life and most usuallu do not have more than two kids either.
Home buyers are looking even more toward eco-friendly options, and that includes being energy-efficient as well as using more sustainable materials when building or remodeling. If you don't have sources set up yet, now is the time to do so.
A survey was given to residential architecture firms in 2016, by ConstructionDive, which they noted that homeowners are asking for larger windows in for energy efficiency. There was also an increase in fire-resistant exterior technology.
When it comes to a healthy home, builders can install clean air filtration systems along with geothermal pumps. As our air quality is getting worse in most urban areas, clean air in the home becomes very important to the home owner.
Many people are turning to solar. As a builder or roofer, this is the perfect opportunity to install and ensure that the roof will avoid leaks and damages during installation.
5. Modern, Variety and Uniqueness
Even in communities where each house looks much like its neighbors, the trend is to add touches to make the home unique. The more variety you have, the more likely you will be able to appease this trend. You can easily differentiate yourself by showing you can provide the exotic woods, natural material countertops, and newest fixtures that they are craving.
It is the age of the minimalist. The trend this year is modern home designs that includes geometric facets and glass garage doors. A modern home usually consists of lots of glass and large windows, made of mostly steel and concrete with spacious interiors.
The material and labor cost increase has put builders hesitant on adding the extra features for remodels. These costs are passed down to the homeowners whom are having to pay more which has put a limit on the remodel.
Once you and the home owner have determined the remodeling details and ready to get started, turn to Express Capital to help you with the funding on the new remodel project.
As the economy continues to improve you will see more construction start-ups again, but if you take the time now to well prepare for the 5 trends that will shape construction business in 2017 and beyond, you will be the one homeowners turn to first and you can cash in more than anyone else in your area.
Let us know what your current customers have been asking for their remodel.
Express Capital Funding is a direct lender who specializes in short-term working capital loans for contractors and small business. Our commitment is to accelerate business growth through lending.