It’s a little like fashion in men’s ties. The really wide
or narrow ones you laugh at today will be back in style sooner or later. There’s
an analogy in our Metairie listings.
After the financial crisis in 2007, the average size of
homes began to shrink. One major casualty was the “specialty room.” Specialty
rooms (or special function rooms) are any room that serves a non-standard purpose.
In the Metairie listings, you find them described as gyms, saunas, home
offices, laundry rooms, home theaters, au-pair suites, “man-caves” and outdoor
living rooms.
These are extras: desirable, but not really necessary. Once
home sizes began to shrink, buyers demonstrated that they were willing to do
without. But today, as the real estate market recovers and budgets loosen, home
sizes are sharply on the rise. New home builders report year-over-year square
footage growth of 10% to 13%...and listings have
already begun to indicate that specialty rooms are on the way back, too.
Mud Rooms:
More Popular
The American Institute of Architects 2013 Home Design
Trends survey noted that mud rooms and outdoor living areas are increasing in
popularity, with 45% of the residential architects who responded noting increased
interest in mud rooms—and just 1% claiming a decline.
Au Pair and
In-Law Suites Increase
Another interesting trend is the increase in Metairie listings
that include au-pair or in-law suites. Aging family members who require
assistance account for part of the trend, as do dual breadwinning families for
whom live-in childcare is a necessity.
Home
Office Popularity: Slight Decline
In prior years, the AIA Survey found the Home Office rated
as the most popular special function room. In last year’s survey, home offices
fell into third place, with only 22% of the architects reporting interest in them.
Whether that reflects in Metairie listings or not remains to be seen, but if so
I suspect it could be due to the improved technology and portability of laptops
and tablets: they simply no longer require a dedicated room in the house.
With the economy showing strength and house prices
expected to rise this year, we’ve probably just seen the beginning of the
resurgence of listings in Metairie featuring
more specialty rooms. And if you are thinking of buying or selling yourself,
don’t wait to contact me to discuss taking advantage of the upcoming spring
market!
Terez Harris NOLA Real Estate Group
(504)297-2619
Keller Williams Realty New Orleans 8601 Leake Ave. New Orleans, LA 70118 504-862-0100
Each office independently owned and operated. All brokers licensed in the state of Louisiana.
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