A new leader in town concerning the real estate market in southern Florida. New construction homes are becoming the housing choice for a broad demographic. Last year saw just over 9,000 new residential home construction permits granted, totaling $2.7 billion.
Most of those permits were granted in southern Florida, further cementing the recent trend towards purchasers looking for brand-new homes over existing ones. So what’s driving this trend? Why are buyers turning away from the Sunshine State’s existing housing stock and instead turning toward new home communities?
Community Amenities and Lifestyle
New home communities are precisely that: communities.
That means buyers aren’t just investing in a home but also the immediate surroundings and facilities. For instance, beyond the state-of-the-art homes, prospective buyers can expect community pools, clubhouses, play areas for little ones, hiking and biking trails, and even direct access to the water through boat ramps at some locations.
In short, these gated communities provide everything you might need and more on your doorstep for a high quality of life. These features draw in buyers from both ends of the age spectrum, including retirees and first-time buyers, while the attraction for families is also apparent.
Energy Efficiency and Smart Home Technology
Another draw for professionals and families is lower utility bills through smart technology and increased energy efficiency. For example, many new homes are built with much better insulation than the properties constructed in the Floridian building boom of the mid-2000s.
But technology is helping to keep the running cost of these homes down, too. Many come equipped with solar panels and smart thermostats that automatically learn (and optimize) your heating/cooling habits. The result isn’t just reducing bills. It’s increasing convenience.
When you also consider high-end white goods and security systems are included as standard these days, there’s an ever-mounting list of reasons to consider buying new homes over those already out there on the market.
Enhanced Construction Techniques and Longevity
As mentioned, the newly constructed homes in South Florida offer much more resilience and quality than those even built just 15 years ago.
Firstly, materials used in construction have advanced considerably, with new composite compounds delivering far more structural integrity and longevity. In a state susceptible to hurricanes and tropical storms, Floridians are looking for a home that can withstand the elements.
With these new homes being built to last, there’s yet another reason for prospective buyers to give them due consideration.
New home builders operating in the state are offering their customers a 10-year structural warranty on their residences, demonstrating just how confident they are in the build quality of their properties.
New homes also feature higher-standard fittings, including double-pan, Low-E windows, and building processes that make homes more climate-friendly.
Flexible Spaces with Homes Being Increasingly Sought After
One of the most significant advantages of new homes is that builders can alter them to meet burgeoning trends. One of the biggest trends of the last five years has undoubtedly been the desire to secure a home with flexible space. That is, rooms serve two (or more purposes).
While the pandemic has undoubtedly played into this desire, another considerable driving force is the rise in multigenerational living. Many homes now feature three generations under one roof. The number of multigenerational households has increased from 7% in 1971 to 18% in 2021, and Florida ranks 5th in the U.S. for the number of multigenerational households.
While existing housing stock has not been designed with flexibility in mind, new homes have. Most of the new construction homes underway today feature adaptable rooms that can serve as home offices, playrooms, guest rooms, fitness rooms, and in-law suites, catering to the evolving needs of modern families.
Health and Wellness: An Increasing Focus of New Home Communities
While the number of amenities is one draw, the nature of these facilities also attracts Floridians to these new home communities. There is an increasing focus on providing areas that improve the health and wellness of residents.
While communities have long had amenities such as clubhouses, the focus has shifted to incorporate more exercise-focused facilities, including swimming pools, outdoor fitness equipment, fitness centers, walking and hiking trails, and classes for activities such as yoga.
Communities are deliberately designed to give residents better access to nature, and some feature organic gardens where homeowners can grow their own produce.
As life expectancy in the U.S. continues declining, prospective buyers are more conscious than ever regarding their physical and mental well-being and overall quality of life. New home builders know this and have factored health and wellness into the design of new home communities to provide better access to nature and exercise opportunities.
Again, using the example of LGI Homes, their Arrowhead Reserve new home community in Immokalee offers a community swimming pool, a multipurpose sports field, miles of walking trails, and children’s playgrounds. All while being less than ten minutes from the 1,500-acre Lake Trafford. Today’s home buyers are looking for this quality of life.
Florida is Waking Up to the Potential of New Home Communities
While new home communities are anything but “new,” there’s a new wave of Floridians lining up to tour, view, and purchase homes in these communities – especially in southern Florida.
With an emphasis on providing a high (and healthy) quality of life, all the mod-cons included in the sale price, and better construction quality than in years gone by, it seems new home builders have taken on board what it is that modern homeowners truly want and delivered it on a silver platter.
New home construction shows no sign of slowing down despite turbulent market conditions, indicating that these homes will continue to be in demand for at least the medium term. They provide what existing homes can’t: more flexibility, more integrated tech, lower running costs, and often for the same price.
As things stand, that kind of value can’t be beaten in the Floridian real estate market.
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