As a larger percentage of the American population is now opting for the single life, the demographic shift could mean drastic changes in the home design and layout, according to a latest Builder Online report.
For the first time since 1976, single Americans have managed to outnumber married ones. This rise in single households could have great implications on real estate. The website asserts that as lifestyles change there will be a major shift in the way homes are designed.
"Thanks to the growth of single-adult households, floor plans will go from static to flexible as living arrangements change more frequently. Analysts project that this group of adults will job hop more often, bring new types of living arrangements into the housing market (think friends buying homes together), and expect their environments to adapt to their frequently changing lifestyles as easily as picking a favorite Keurig coffee flavor," the report states.
The website also suggests that builders and developers will have to consider new design concepts like communal sheds for cars and other working equipment, when building homes for singles. As work will become a major part of life, the interiors and exteriors of homes will have to cater to the blend of the work-life style of living.
Also, a 2013 study by the National Association of Home Builders found that if given a chance to own a house, the Gen Y of America would prefer to own a super-energy-efficient home.
The changes will have to be accommodated as soon as possible because a new wave of singles is all set to take over the real estate market of America.
A recent study, conducted by Century 21 Real estate, found that about 75 percent or three quarters of the surveyed single Americans, who were in their late twenties or thirties, wanted to buy a home and said that house ownership was important to them.
"We are in the midst of a shift in the home-buying population," Rick Davidson, president and chief executive officer of Century 21 Real Estate LLC, said in a statement.
"This survey shows that home ownership is a major life decision for singles and that it is just as important a part of the American Dream for them as it is for married couples," he added.
The trend of going solo or living alone has been picking up pace for some time now. Statistics gathered by research firm Euromonitor International show that the rate of people living alone has gone up from about 153 million in 1996 to 277 million across the globe.
