Indoor space might not be as big of a deal as once thought, according to a recent study by Wakefield Research on behalf of Taylor Morrison, a national homebuilder and developer. Homebuyers are more interested in a larger backyard.
According to the survey, the most important outdoor trait is home distance from neighboring homes. 48 percent of millennials and 53 percent of non-millennials thought breathing room beat out things like curb appeal including driveway styles, exterior paint color, and roofing finishes.
"Demand for more elaborate exterior space continues to rise and blending indoor-outdoor living to address customer preferences is critical to our success," said Sheryl Palmer, Taylor Morrison Chairman, President and CEO. "At a time when land prices are escalating and local approvals can force smaller lot sizes, Taylor Morrison creatively maximizes limited areas—especially in urban locations—making the entire living experience that much more enjoyable."
Women tend to be interested in more outdoor space than men, with 62 percent preferring less square footage to outdoor space compared to 51 percent in men. The desire to have more of a backyard spans across parents and non-parents as well as all generations.
Depending on the area in the U.S., incorporating the outdoors comes with different strategies. For instance, in more urban communities, buyers want to make use of the courtyard and side patio areas. In places like Orange County, California, buyers want homes will balconies and rooftop decks so they can enjoy the ocean view. However, one of the largest trends has been creating seamless flow from the indoors to outdoors with things like floor-to-ceiling retractable glass walls and matching tile flooring that extends from inside to out.
"Outdoor living is no longer an afterthought to a home's construction," said Charlie Enochs, Taylor Morrison Area President for the central region. "In some of our largest markets such as Austin, Dallas and Houston, we just introduced nine new floor plan series, all of which have blurred the hard line between the inside and out to meet the blended indoor-outdoor living trend head-on."