||Discover The Power Of Convenience Built-Ins For All Americans
Through These National Statistics And Trends
Statistics. . .
There’s a huge and diverse market of Americans whose lives and fortunes can be improved by the high-WOW!-factor, affordable, uncommon convenience features we’ve identified. These statistics describe this country’s remodeling and home building activity:
- The National Association of Home Builders (nahb.org) says 30 million homes are remodeled yearly (via 50 million projects). This represents 40% of all owner-occupied homes in America.
- The NAHB reported (in their 11/1/04 online newsletter) remodeling expenditures were $224 billion in 2003, with 32% spent on projects costing over $25,000 each, and 52% on projects costing $10,000 - $25,000.
- The National Association of the Remodeling Industry (nari.org) says remodeling expenditures grow at 4% per year.
- The Census Bureau reports the most popular remodeling projects are in kitchens and bathrooms.
- The NAHB says 24% of all remodeling projects involve at least one improvement that relates to the aging of the home’s owner(s).
- The NAHB also estimates more than 400,000 custom homes are built each year.
- The American Institute of Architects (aia.org) estimates there are more than 100,000 practicing architects in America today. Some architects estimate there are more than 200,000, based on the number of graduates from America’s 111 accredited architecture schools during the last thirty years.
- A 2004 ExtraOrdinary Homes survey revealed most homeowners who are planning remodeling projects spend up to a year researching and deciding what features to include in their projects. They each invest hundreds of hours and hundreds of dollars in that research through TV shows, magazines and books, home and garden shows, model homes, home tours and real estate open houses. That same survey reported owners planning custom homes most often spend two to three years researching and deciding what features to include in their future homes.
Trends. . .
Why More-Functional Homes are Becoming Essential
Ten trends underscore the importance of having homes that actively contribute to the daily routines and habits of their inhabitants:
- Historically-low interest rates encouraging active, younger home buyers.
- Adults with careers and busy lives.
- Super-busy families with single parents, or both parents working outside the home.
- Kids with busy schedules.
- The cocooning trend to spend more time at home.
- Baby-boomers as empty nesters with vibrant interests and full schedules.
- Living longer and wanting to age in place in one’s own home.
- Seniors wishing to live independently.
- Second and new careers for financial or lifestyle reasons for over-60 adults.
- Seniors wanting stimulating, fulfilling and high-quality lives.
The Number One trend in America during the last 50 years is convenience. In the 1960s we saw the dawn of convenience foods. . .by the ’80s we had convenience appliances stealing the thunder of standard models. . .and now we are entering the age of convenience homes.
Why Home Conveniences are at the Top of Everyone's List
The current American obsession with home conveniences is driven by eight trends:
- The importance of nesting and home-based creature comforts since 9/11.
- People spending more time at home, and wanting that time to be enjoyable, both since 9/11 and due to the current pressure on disposable income.
- The appeal of investments in homes vs. lackluster stocks and bonds, especially with the help of today’s historically-low interest rates.
- Families’ interest in features that make their busy lives easier and more efficient.
- The importance of home improvements that specifically increase a home’s value and resale appeal.
- The aging of the population, coupled with the motivation to remodel in order to be able to remain in one’s home as one ages.
- Homeowners seeking practical, innovative, affordable ideas they can get excited about.
- People trying to surpass the ever-elusive “Joneses.”
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