Greater Columbia, Chapin, Irmo, Lexington and Lake Murray.

Sunday, November 4, 2007

The Home of Tomorrow

The home of the future, at least looking out to 2015, will be somewhat different than new homes being built today according to research by the National Association of Home Builders. While overall home size has been increasing over the years, from about 1500 square feet in 1973 to 2459 square feet in 2006, the home of 2015 will probably average about 2400 square feet.

A summary of other home changes for new homes: higher ceilings, popular now in new homes, are here to stay; upscale amenities will become more common; formal living rooms will shrink or disapper, while family rooms will get larger; recessed lighting and bold colors will be more common; demand for energy-efficient appliances, HVAC equipment and windows will increase and structured wiring and multi-line phone systems will be standard in most homes.

Outdoor kitchens and second master bedroom suites will become more common in luxury homes.

What will an average new home cost in 2015? I did an analysis of current homes for sale in the Columbia area (as of November 4, 2007): The average home size is 2459 s.f. for 242 new homes for sale in my analysis (all with min. 2 1/2 baths and 2 car garage minimum). The prices ranged from $151,990 to $725,000. The average price is $260,541 with an average price per square foot of $105.95 (this includes the lot). Construction costs can vary greatly depending on construction quality, materials and amenities (and the lot price too). So, going forward, if Columbia new home prices appreciate over the next 8 years at 3.5% per year, the average home of the future will cost about $334,848 (in 2015).

For your home of TODAY, please be sure to contact your Columbia Realtor, Mel Coker. I can show you ANY home, new or resale, for sale in the Greater Columbia area. Call Mel Coker at (803) 318-2007 or visit Mel's website:

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