The residential construction industry is evolving at a rapid pace. According to the 2023 State of Residential Construction Industry (SORCI) Report, new technologies, sustainable and eco-friendly building materials, and a demand for more personalized home designs are shaping the future of custom homebuilding.
The proliferation of new technologies is transforming how custom homes are designed and built. Advances in building information modeling (BIM) software allow for highly detailed 3D modeling of homes. Virtual and augmented reality are enabling homebuilders to provide immersive experiences of homes that have not yet been built. Drones are used to monitor construction sites and spot issues quickly. These technologies enable homebuilders to reduce errors and inefficiencies, provide more accurate estimates and timelines, and deliver an unparalleled customer experience.
Sustainable, energy-efficient and eco-friendly materials are becoming increasingly important to homebuyers and thus to homebuilders. The SORCI Report found that over 75% of homebuyers would pay a premium of at least 5% for a home built with sustainable materials. As a result, homebuilders are incorporating more sustainable wood products, low or zero VOC paints and adhesives, high-efficiency HVAC systems, solar panels, rainwater collection systems and other green building products into their projects. In addition to environmental benefits, these materials can reduce homeowners’ long-term energy and maintenance costs.
Homebuyers today want custom homes that are unique reflections of their personalities and lifestyles. An increasing demand for personalization is driving homebuilders to offer more options for layouts, rooms, exterior styles and details. Rather than choosing from a limited set of floor plans and elevations, homeowners can work with homebuilders and architects to create spaces that are tailored to their needs and preferences. The rise of the “she shed”, home gyms, home theaters, and multigenerational suites reflects a desire for homes that serve homeowners’ diverse interests, family structures and living situations.
The residential construction industry is being reshaped by new technologies that increase efficiency, sustainable materials that reduce environmental impact, and a demand for personalization. Homebuilders that effectively leverage these trends will be poised for success in the years ahead. Overall, the future of custom homebuilding is an exciting space to watch.