You know the situation: There’s a housing shortage, and new construction in San Diego isn’t boosting the supply enough — in large part due to soaring construction costs. The consequences are stunning:
- Under permitting and under building over the last decade have resulted in 2.3 million fewer single-family home permits.
- At the current rate of 1.3 million homes built annually, that represents two years of “lost” building.
- Homeowners are staying put, with most not planning to sell anytime soon.
- Housing stock is staying in service longer and quickly aging.
Homeowners who stay put add to the pain
According to the Zillow Group Consumer Housing Trends Report 2018, today’s typical seller lives in their home for 13 years before deciding to put it on the block, and they spend an average of seven months pondering the decision. Depending on the age of the seller, or how long they’ve owned their home, the longer they think about it.
Selling clearly isn’t a decision many homeowners take lightly, so it’s probably not surprising that only 5 percent of homeowners plan to sell in the next year, and 63 percent have no plans to sell at all. This contributes to the scarcity of available homes for sale.
What can builders in San Diego do? Rethink size and layouts
There’s an opportunity for builders in San Diego to meet the housing demand, but it’s important to consider how some buyers are responding to the inventory shortage: They’re having smaller families or “doubling up” their households. Builders could adapt to these behavioral shifts by building smaller homes amid feature-rich neighborhoods or single-family homes that accommodate multiple generations.
Multigenerational Homes in San Diego can be the Answer to Housing Shortage!
Every day we hear about a lack of affordable housing and of new home inventory for buyers looking for a new home.
There a many reasons for the shortage including lack of construction labor, soaring construction costs and permitting hurdles.
According to Zillow Research only 5 percent of homeowners plan on selling their home in the next year, and 63 percent have no plans to sell at all
This contributes to the scarcity of available homes for sale.
Multigenerational Homes Save Money and Keep Families Together
Multigenerational homes also known as homes with Mother-in Law suites are are 2 homes in 1 for families that are “doubling up” their households.
These single-family homes that accommodate multiple generations help families in many ways:
– More people to pay mortgage
– More people to help with raising children and reduce day care expenses
– Keep aging parents home and out of expensive assisted living facilities
– Separate Living quarters for children returning home
– Rental Unit
Plan for the future in San Diego with a Multigenerational Floor Plan
We have several predesigned Multigenerational floor plans that will give you flexibility to have separate quarters for aging parents, returning children or to it be used as a lock out unit rental.
Additional square footage is less expensive to add when building a new house in San Diego than trying to add additional square footage as a room addition or a separate Accessory Dwelling Unit.
https://www.usmodularinc.com/what-are-multi-generational-homes/
Contact info@usmodularinc.com
888-987-6638
