Economy creates subtle trends in what appeals to homebuyers

As the Fall Home Show gets underway, builders unveil new models, update current plans, offer more choices and options - all incentives to attract new home buyers.

Some buyers are ready to jump in and purchase a new home with all the amenities they've dreamed of, while others proceed with caution because of the uncertain economy. These people are concerned about their monthly expenses, energy costs and the likelihood of remaining in their new home for many years.

What are buyers looking for now? What's selling, and what are some hot features, models and communities?

Porches and outdoor living are hot features at West Point Gardens in Elgin. "People love the porches; they're a huge selling feature for us," said Patrick Curran, president of West Point Development. "And they love the private gardens - how we've established the indoor-outdoor relationship for their enjoyment."

What's really different though is more people want to purchase a completed home, where before they wanted to select all the options themselves, Curran said. "That's a big change for us.

"It surprised me. We got used to the exterior being all done, weather tight and knew buyers would choose their own cabinets and flooring. Now they want to purchase it complete."

So the builder is putting in more upgraded finishes, granite countertops and hardwood floors to attract a wide range of buyers. And buyers who may not have splurged on kitchen amenities before, select these homes now.

Why? "I think there's a little apprehension with the market, and people want to be sure of how the home will look when they move in," Curran said.

Homebuyers are also cautious about purchasing a home at Shelburne Crossing by M/I Homes in Winfield.

"People are more concerned about energy efficiency now than ever before, and people ask a lot of questions about how they can save on utilities," said sales manager Cheryl Bonk. "People are very concerned about their monthly expenses."

High efficiency furnaces, water heaters, programmable digital thermostats, and home insulation that exceeds standards are all hot items today, she said.

Bonk sees people focusing more on floor plans and the livability of the space in their home. They want to make sure it will adapt to their changing lifestyles because they want to stay in their homes longer than they would have planned a couple years ago, she said.

Home entertainment is big. Bonk says people want home theaters, surround sound and speaker systems. They want to enjoy more entertainment at home than they have in the past.

This month Cambridge Homes showcases new, updated models at its Cambridge Lakes community in Pingree Grove.

"The Legacy II townhouse plans have been popular for many years, and we used a lot of feedback from customers to enhance these already popular plans," said Dave Smith, vice president of marketing for Cambridge Homes.

"We made these models wider than other townhouses available in the marketplace and updated them with striking kitchens and nine-foot first-floor ceilings, which will make them even more popular.

"Our country kitchens have always been very big options, and we've added it to a couple plans that didn't have them. They're more functional, more exciting and really dramatic," he said.

"You don't feel like you're living in a townhouse because they have all the attributes of a single-family home - wider space, back yard and now higher ceilings than before. Those are really exciting brand-new models."

Unlike West Point Development, it's all about choices at Pulte communities. The company has introduced new choices for people - new darker cabinet stains and styles and new flooring options.

"People like having more choices; that's part of the fun of building a new home," said Chris Naatz, vice president of sales and marketing. "When you customize your home, you enjoy your personal touch every day, and it's very rewarding.

"Home is where the heart is. When you enjoy what you love and the family uses the space, it's a daily reminder of how exciting it is to buy a new home."

Pulte also offers new choices at its Del Webb communities where quality of life is important. People are taking advantage of what's available today rather than waiting for what they think might happen in the future, Naatz said.

For Town and Country Homes, it's a whole community that's drawing a lot of interest from buyers. "Liberty Lakes in Wauconda is the hottest thing we've got going now," said Brian Murphy, vice president of marketing/warranty. "We opened two models with open floor plans that lend themselves to a lot of different flex spaces for buyers.

"It's an established community that has a local park there and a 26-mile hiking and biking path that runs through the community. Situated in Lake County, it has a rural feel yet is near all the amenities people need."

Small is big with many of today's homebuyers. "We see townhouses and smaller single-family homes gaining in popularity," Curran said. "That's what people want now rather than the larger homes they wanted in the past."

Chris Shaxted, executive vice president of Lakewood Homes, sees the same trend with customers. "One of the hot buttons for us is that homes are shrinking a little bit in size."