First Comes Love, Then Comes Marriage...After Kids, Families Look to Homebuilding
While the quintessential American dream once seemed to plateau after having children, there’s a new next step for families to look forward to.
The expected trajectory for U.S. couples hasn’t changed remarkably in many decades: love, then marriage, then homebuying, then children has been the expected order of operations for quite some time. Millennials and the few generations before them have steadily stretched that timeline, with marriage and children coming into the equation a bit later than they did for older counterparts. But lately, newly-growing families tend to add a step to the journey: after having kids, many families look to build their own homes.
As Millennials enter the age of building families and creating their own definitions of home, the market sees a marked uptick in new construction, especially custom building. Multiple sources predict single-family housing starts will exceed 1 million in 2021, meaning the sheer number of homes being built is on a steep rise. Why the sudden spike in interest for new construction? It all comes down to societal values and the whirlwind market.
Prioritization
With longer average timelines allowing many new parents to save up and grow in their careers before having children, many middle-class families are able to afford homes that truly meet their family’s needs - especially if they’ve owned a home before and built up some equity.
When prioritizing and calculating what they’ll need in a home, many families simply don’t see their wishlist reflected in the selection of pre-owned homes. Living areas aren’t proportioned quite right, bedrooms fall on the wrong levels, entertaining space is lacking, or simple upgrades and updates are amiss. Instead of purchasing a home they’ll need to fix in order to love, thousands of new parents now opt to start from scratch and build instead.
Seller’s Market
Even if most pre-owned homes did meet the needs and priorities of new families, the competition to purchase a new home makes the feat feel nearly impossible. With historically low interest rates inflating budgets and COVID lockdowns motivating people of all ages to get out of crowded apartments, demand for homes is understandably high. While that’s great news for those looking to sell and upgrade, it also makes for a frustrating and often risky process of bidding and negotiating on the buyers’ end.
Creativity
Whether they’re building a home for a growing family or they’re adapting to life after children have moved away, many couples are choosing to build houses in order to see more of themselves in their homes. Beyond meeting lifestyle needs, our homes are also expressions of who we are, our tastes, and our personalities. As a society favoring individualism, it’s no wonder that many buyers are veering away from existing homes and developments where homes appear virtually identical.
Building serves as a nice next step for many couples because the process of choice and personalization allows for open communication, bringing the family closer together and aligning priorities like never before. Plus, building a custom home has never been easier! No more cookie-cutter developments or limited options. With Atmos, your ideal custom home is right within reach.
Ready to take that next step? Start the process today to begin your journey toward the Atmos home of your dreams.
