New Home Remodeling Trends | Designers Circle HQ

Home Remodeling trends show an increase in renovations for 18-34 year old family members who are staying in the home longer.? In addition adult children are moving back home after moving out.? Most parents in the baby boom population grew up with the notion that kids leave the nest after high school or college. However due to the stark economic realities boomers are putting off items they planned for their empty nest phase. ? They instead are seeing a large percentage of the 18-34 population choosing to stay or move back home. In a report from the PEW Research Center, they call this the ?boomerang generation?. The report says this generation has a tendency to move out for a short time only to boomerang right back. According to a Pew Survey, 24% of all adults age 18-34 moved back in with their parents due to the economy.

Here are some of the causes leading to this generation staying or moving back home

• ?Cannot find a job
• ?Had a job but got laid off
• ?Found a job but it does not pay enough or is part-time
• ?Can?t afford to live on their own even though they have a job
• ? Debt from student loans
• ? Credit card debt trying to stay a float
• ? Employed and can pay the bills but couldn?t save enough due to huge increase in cost of living
• ? Needs more education to qualify for a better job
• ? Roommate lost their job and now cannot afford the bills

In our last post, we discussed how many households are expanding to bring home aging parents and relatives. The expansion will grow further as more and more of the 18-34 year old age group stay or move back home.

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This will lead to an increase in home remodeling to meet the needs of Multi-generational living.? The US Census keeps track of the population trends and calls this Shared Households.

Shared Households are on the rise.

In a report from the US Census Bureau there is a 17% increase in Shared Households since 2007.

According to the report, a shared household is defined as a household with at least one resident adult who is not enrolled in school and who is neither the householder, nor the spouse or cohabiting partner of the householder. In the spring of 2007, there were 19.7 million shared households. By the spring of 2010, the number of shared households had increased by 11.4 percent, while all households increased by only 1.3 percent (Table 1). In 2010, shared households accounted for 18.7 percent of all households, up from 17.0 percent in 2007

Other discoveries:

• ?30.1 percent of all adults resided in a shared household in 2010, compared with 27.7 percent in? 2007.
• The number of additional adults increased by 3.4 million between 2007 and 2010.
• Individuals age 25 to 34 made up 45 percent of the increase in additional adults between 2007 and 2010.
• Between 2007 and 2010, the number of adult children who resided in their parents? household increased by 1.2 million to a total of 15.8 million.

Remodeling considerations for homeowners who open their home to adult family members, relatives and friends:

Each adult generation has different preferences and needs. Renovations must be carefully planned to address these needs without jeopardizing the resale value of the property, maintaining the architectural integrity and remodeling within budget constraints.

Typical remodeling projects include:

• ? Additional bathrooms
• ? Additional Kitchens or enlarged spaces
• ? Whole house renovations
• ? In-law suites for older and younger occupants
• ? Additions
• ? Separate private entrances
• ? Finished basement suites
• ? Technology improvements
• ? Systems upgrades

To plan a project for the multiple needs of a younger generation homeowners can benefit immensely from the Design and Build Process. Working with one professional firm who has single source responsibility for the entire project and fulfillment of the occupants can save a lot of time and effort. Design/Build, especially with a Nurse Carpenter who understands the many facets of Multi-generational households, allows for a seamless transition from the concept to the completion of a remodeling project.

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reprinted in part with permission from http://www.solacern.com

Carol DeRienzo, RN ?The Nurse Carpenter?

Source: http://designerscirclehq.com/2012/08/6455/?utm_source=rss&utm_medium=rss&utm_campaign=6455

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