By Geoff Williams, FrontDoor.com | Published: 5/20/2009
Pulling out the crystal ball
It's impossible to know exactly what future houses will look like in five years (most of them, of course, will look exactly like they do now, only five years older), but we'll give it a whirl, anyway.
Inside your house, now
A rise in add-ons and mother-in-law apartments is expected, but so far, with the recession, we're talking more predictions than progress. David Lupberger is a veteran home builder and spokesman for ServiceMagic.com, a Web site that hooks up homeowners with home improvement professionals; and he says that their network of 60,000 contractors has seen a decline in larger projects like bedroom add-ons but an increase in smaller repairs, like a 76 percent jump in awning installations.
Lupberger believes that homeowners are tackling minor repairs to improve their home because "they know they're going to be here awhile," but putting off the larger expenditures because, well, the economy isn't what it used to be.
"When we survey people, they say that they're going to do these larger projects, like extra bedrooms for their in-laws," says Lupberger. "They're just not sure when. People are thinking, planning, developing -- and sitting tight."
Thinking, planning and developing isn't a bad idea. It's not something you want to rush into. Lupberger saw that for himself when he started plotting the construction of a mother-in-law apartment for his brother. There were zoning issues.
The community planners were worried about mother-in-law cottages cropping up everywhere and later being rented out to strangers, all of which would bring property values down and change the character of the neighborhood, they feared. They finally agreed to the add-on when Lupberger's brother signed a waiver promising that only a blood relative would live in the add-on home.
Weaver certainly espouses the virtues of planning ahead when designing a house for yourself, your spouse, your kids, the grandparents or the unemployed uncle. "A lot of people who are bringing their parents into their home forget what they didn't like about living with them before they moved out," says Weaver. "So it's important to think about how you live your life and how it will be affected by another person living with the family."
Interest rates have crept up, but refinancing may make sense for you.
Purchase price, interest rate, taxes and PMI determine your monthly payment.
Find out if owning a home will save you money.