Industry News

Custom Home Building: Shifting Perspectives

SouthStar Communities proudly offer quality custom home building to our clients, especially when perspectives and needs are vastly changing in the wake of the Great Recession.

One of the primary certainties in life and business is that change is inevitable. But of what kind and how much can be difficult to pin down. Custom home clients are undergoing a significant—though not radical—evolution that likely will have a lasting impact. Here, a few observations and predictions from a survey of distinguished custom builders:

Clients have become less focused on ostentation and have shifted emphasis to slightly smaller houses, quality construction and detailing, outdoor living, and sustainability. They also have become far more cost-conscious and prudent; they want to be assured they’re spending their money wisely and getting high value for every dollar. — Jim Murphy, president of Jim Murphy & Associates, Santa Rosa, Calif., and Custom Home’s 2011 Custom Builder of the Year.

They’re more analytical and pragmatic, but the biggest change is the higher value they now place on design. Clients have a better appreciation for quality, detail, and innovative design over vast square footages, and the concept of the suburban mansion as a marker of success and wealth has evaporated. — Keith Waters, president, Keith Waters & Associates, Eden Prairie, Minn.

A financial phenomenon is taking place that promises to impact future projects: the current generational transfer of wealth, said to be the largest in history. “Easy come, easy go,” is the expression that applies to the beneficiaries of these funds. Those who inherit wealth tend to spend it much more freely than those who built it through hard work. —Matt Oliver, co-owner, Oliver Custom Homes, Austin, Texas

Read more from the source: Builder

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