The biggest growing trend Columbia SC homebuyers are looking for in new homes appears to be more space.
According to data presented by the National Association of Home Builders (NAHB) at the International Builders' Show in Las Vegas, the size of new homes is up 13.4 percent in the last four years alone, with a massive rise in 4+ bedroom homes being sold.
Regardless of size, the NAHB says that features builders are most likely to include in a typical single-family home this year are a walk-in closet in the master bedroom, low-e windows, a laundry room and a great room.
Energy-efficiency is also a key theme among Columbia SC homebuyers, as Energy-Star rated appliances, programmable thermostats and Energy-Star rated windows also rank high on the wish list.
Columbia SC Homebuyers Still Want Kitchen Islands
According to builders, Columbia SC homebuyers are still wanting granite countertops, a double-sink and a central island in the kitchen as well as a linen closet and a private toilet in the bathroom.
Paneled appliances that blend into the cabinetry are gaining favor. And appliances are being moved around the kitchen. Two ovens are becoming more popular. They could be in different locations rather than above one another.
Other features that builders are likely to include are first-floor ceilings at least nine-feet high, a front porch, exterior lighting and a patio.
Based on feedback from Columbia SC homebuyers, the most unlikely features wanted in 2014 homes are laminate kitchen countertops, an outdoor kitchen, an outdoor fireplace, a sun-room, a two-story family room, a media room, a two-story foyer and a whirlpool in the master bathroom.
For more on what Columbia SC homebuyers want in their homes, as well as improvements, visit our Columbia SC Home Improvement section of articles under Columbia SC Real Estate Categories to your right.
The Columbia SC housing recovery appears to be on track, according to newly-released data, although not at the pace it once was. Home prices rose slightly more than expected in December, according to the S&P/Case-Shiller index.
David Blitzer, chairman of the S&P Dow Jones Indices Index Committee, called 2013 the best year for the index since 2005, but noted that gains are slowing from month-to-month. That's in line with the latest results from luxury homebuilder Toll Brothers, which reported a 52% jump in quarterly revenue but said demand has leveled recently.
Check out our other articles and tips pertaining to Columbia SC housing by clicking on the Columbia SC Real Estate link to your right under Columbia SC Real Estate Categories.
Instead of telling you that anytime is a great time to buy Columbia SC real estate, we're here to tell you when it's NOT necessarily a good time to buy Columbia SC real estate.
Imagine you're a new college graduate right out of school with a great job with security to go with it. You have a good credit score, and you have money for a down payment, either through savings, or a gift from relatives. Sounds like a perfect Columbia SC real estate prospect, right?
Add in one other thing. A $60,000 student loan that needs to be paid back.
You could pay off that student debt and have a healthy emergency fund or you could go all in and buy a property while simultaneously dropping your bank account to $0 (literally).
Other Things to Consider Before Buying Columbia SC Real Estate
The number one thing to consider when you're in debt and deciding whether you should buy Columbia SC real estate or not is, how stable is your income? You can't always control the state of the Columbia SC real estate market, but it's easy to figure out how in demand your profession is.
If you're in a high demand profession, buying Columbia SC real estate when you're young and just getting started may be the perfect move to make. On the other hand, if you're in a profession that could, and very likely will, cause you to relocate frequently to continue moving up, buying Columbia SC real estate may not be the smartest thing to do unless you have plenty of time and reserve funds when it comes time to sell and move on.
When you're young is the time to take on greater risk, not when you're 50 and looking at a million dollar home. If in doubt, seek advice from a financial planner or expert. We will be happy to sit down and discuss your particular situation and give you an honest opinion as to whether now is the right time for you to buy Columbia SC real estate or not.
For other tips on buying Columbia SC real estate, check out our Columbia SC home buying tips by clicking on the Columbia SC Home Buying Tips link to your right under Columbia SC Real Estate Categories.
Columbia SC housing is expected to see slower rates of growth this year compared to 2013. The double-digit gains in home prices we saw in 2013 are expected to slow to a more realistic 2-4 percent. We also expect to see more inventory of homes coming on the market in 2014. Many sellers who were stuck in their homes when they owed more than the home was worth, will now be looking to sell and move to a different home.
Real estate expert Brendon DeSimone discussed the overall housing market recently on Bloomberg Surveillance, and here's what he had to say…
The spring Columbia SC housing market is just around the corner. And if the latest price and sales numbers are any indicator, this spring is likely to see another big jump in prices, driven in large part by the long-standing shortage of listings.
Take a look at what happened in December, usually the dead zone of the annual Columbia SC housing cycle. Instead, Columbia SC housing was up in December from November, and although experts like DeSimone think things will slow down this year, so far, it's not really happening quite like he's seeing in our market.
We'll keep you informed on Columbia SC housing and how the economy is affecting our market right here at our website. Stay tuned!