Your Home, Your Way

 By Kim Tillinghast, Vice President

When it comes to antiques, memorabilia and other collectibles, the age of the item is an attractive asset. But when it comes to selecting a home, old isn’t always better. Many consumers might be surprised at the long list of benefits that accompany a brand-spanking-new home –  from the aesthetic  (personalization, newness) to the practical (quality, energy efficiency, fewer future improvements) – and the truth behind misconceptions of barriers such as time and expense.  Consumers face a wealth of choices when shopping for a new home, and there is plenty of room (no pun intended) to educate and shed new light on the homebuilding story.

That’s exactly what new client Builder Homesite, Inc. is seeking to do. This Austin-based consortium of 32 of the nation’s largest homebuilders is launching an initiative to educate consumers and industry influencers, and positively influence public perception about new homes. It’s an industry first, with homebuilders joining forces to launch a marketing and advertising campaign aimed at increasing new home sales among potential buyers.

For consumers experiencing a life event such as a new job/city, growing family, newly-empty nest or recent retirement, there exists an invaluable opportunity to adjust living space to exact needs. Perhaps it’s building a dream nursery for a baby on the way, choosing a larger home to accommodate grandparents moving in, or trading a two-story home for a one-story with dedicated space for crafts and hobbies. Naturally, there is great sentiment attached to the home, and the ability to customize every square inch, to create a future instead of clearing out the inherent past in an existing home, is incredibly valuable – particularly when related costs are comparable and in the long term, even less. It’s a matter of educating and empowering consumers with the right questions and considerations, to choose the best option for them.

As the country emerges from a challenging economic period, the homebuilding industry – which in particular has suffered – is primed for resurgence.  Despite the recent slowdown, with 2011 new home sales marking the lowest recorded since 1963, builder confidence is at its highest level since June 2007. Each market share point represents a staggering $8 billion in annual revenue, and the industry is a key economic driver for the broader U.S. economy. The National Association of Home Builders also estimates that each single-family home built generates three jobs and a total of $90,000 in government revenue.

Only time will tell if the projected upswing will continue for the homebuilding industry and economy at large, but many are optimistic. And for many more, a shiny new home will become a first-ever consideration, and hopefully a happy reality.