Here’s an impressive home design for clients who want to live in a single-story house without having to downsize too much. View interior views on Houseplans.com.
The exterior features prairie-inspired details, such as the hipped roofing that are both timeless and modern. The garage is oriented to the side, with a small window in the front.
Empty Nest House Plan. Front Exterior. View Details at Houseplans.com.
Each of the three bedrooms has its bathroom. This allows guests and family members to enjoy their privacy. The study is ready to be used for work or hobbies.
The great room extends outside onto the covered lanai, where an outdoor kitchen and fireplace create unforgettable evenings. The main suite also features an impressive bathroom and wine storage is located near the dining area.
Housing Market Report
The housing market continues to be affected by affordability shocks, especially existing home sales. Mortgage rates were near 8% in October, and the monthly payment for many major markets in January 2022 was 60% more than it was in October.
We have seen that this low resell stock has pushed people to the new home market. Wolf explained that the resale stock is not just limited but also aging and costly. “New homes are usually more expensive than existing ones.” The price gap has been narrowing.”
However, despite these dynamics, builders share the impact of “seasonality plus” in the real world. Tim Sullivan, a chief advisory officer at Zonda, said that builders surveyed were often referring to “scarce land,” “expensive and unsupplied,” “challenging costs environment,” “price-sensitive,” “cautious,” or “slowing and competitive.”
According to Sullivan’s research, builders are still enthusiastic about buying land, but it is getting more expensive. Zonda surveyed 43 percent of builders who said they were pursuing land acquisition “at full speed,” while 53 percent are moving cautiously. As land demand increases, so do prices. According to 40% of builders surveyed, land prices have increased.
Sullivan stated that affordability is becoming a greater concern for home builders. Consumer confidence, affordability of new homes, and economic uncertainty are all ranked as the top three concerns for home builders. In October, 71% said that they had not raised prices, and an additional 13% had lowered the base price.
He noted that “flex dollars, money for closing costs and mortgage rate buydowns [have been effective incentives].” The builders target the sweet spot for buydowns, which is between mid-5 and mid-6.