DFW Home Buying Trends

Home Buyers Spend More to Live in and near the City

Generally, urban infill developments command higher sales prices than homes located in the suburbs. Many home buyers are willing to pay a premium to be located near work, restaurants and nightlife. This partly due to high gas prices and people tire of long commutes and the related expenses.  Some newer developments are selling for even higher prices. But these developments are located near shopping, businesses, art galleries, bars and gourmet cafés, which satisfy the wants and needs of those buyers. Some buyers do not own a car and depend on walking and public transit to get around the city.

Modern Designs

Newer homes are designed with simple, clean lines, offset by decorative lighting fixtures such as drop pendants, hand-crafted balls or hidden light sources. Some designers use creative built-ins that double to house large flat-screen televisions, which swivel between two rooms, or double-sided fireplaces that add character to the home.  Granite counters are still popular but are beginning to lose appeal, perhaps because so many homes have them they are not special anymore.  Buyer’s preferences are leaning toward sinks that are larger, flatter and built-in to the vanity. Rain shower heads are installed in ceilings instead of walls.  Soft, cooler earth-tone colors are on the comeback. The colors are more relaxing. There is a lot of blue, gray, tan and green and less of the warmer colors such as yellow, red or orange. Green homes are becoming more and more popular, featuring solar energy, natural fiber or eco-friendly wood flooring, compact fluorescent lighting and energy-efficient high-end appliances. Some homes even have a place in their garages to plug in an electric car.

Lofts Gaining Popularity

In many downtown areas, lofts are the design of choice. They offer work-live spaces, which are generally multi-level. The first floor is often an open space that can be used as an office, warehouse or commercial place of business. The upper floors feature floor-to-ceiling glass windows -- views are highly desirable -- exposed ventilation and duct work, with fewer walls separating living spaces such as bedrooms, living rooms or kitchens.   Loft designs make the kitchen work area more compact and efficient. Appliances are smaller in dimensions. Many appliances blend with sleek European cabinets.  A professional will help you find a downtown loft that meets your needs.

Professional Singles are Teaming Up

Single professionals are teaming up to buy downtown together, especially those that offer two master suites. Higher prices make qualifying on a single income more difficult.  Some single people find that it's easier to pay half of a mortgage than the whole mortgage on their own and it makes financial sense, particularly if half the mortgage is equivalent or close to the amount of a monthly rental. Singles are attracted to downtown areas that offer walking distance to work, shopping and nightlife attractions.

Home Buyers Desire Smaller Homes

Many baby boomers who live outside the city often decide to move back after their children grow up and leave home. They find that they have to much living space, too much upkeep and too far away from downtown attractions and easy of getting around.  Many of these buyers would like to downsize and make do with a smaller space that is newer and offers more conveniences, than live in a larger suburban home not convenient to the city.  The system is paramount in locating the home of your choice.