A new concept in housing was unveiled this week at the International Builder's Show. These future homes are going to be designed and built around the idea that it can accommodate extra occupants for profit which should be a perfect fit for the Airbnb crowd.
According to The Wall Street Journal, the model house covers 5,200-square-foot of space and stands on top of a hill overlooking Las Vegas. The house has two floors with the top level usable by aging parents and for recent college graduates still looking for a stable job and steady pay. The house can also accommodate two families. It was constructed by local developer Element Design Build.
Home builders believe that this year will be a turning point for affordable housing which is a huge concern for many people. The demand for joint ownership of properties especially among family members and roommates is on the rise. House prices have also increased by 25 percent since 2011, according to S&P/CASE-Shiller Home Price Index. However, the median household incomes are dropping. Last October in cities like Portland, San Francisco and Denver, home prices increased by 11 percent, while in Las Vegas it jumped by 6 percent.
In 2010, apartment rental rates rose by 20 percent according to data tracker Reis Inc. It caused a major setback for potential homebuyers who can no longer save enough money for down payments on a house they wish to buy.
On the other hand, many homebuyers purchased property with the aim of accommodating more people in order to save money. Tom Moser, 42, and his wife, Kristin, bought a house outside of Tucson, Arizona, and are sharing it with Tom's 85-year-old father. The younger Moser said it is more practical because they sold their previous homes for a combined price of $540,000 and the home they share today jointly cost them $335,000.
Meanwhile, in the report by Builder, real estate reporter Laura Kusisto wrote that the Responsive Home Contemporary Farm House model is designed for the younger home buyer. These homes are located in Las Vegas that can cater to multiple families. The estimated median price is $300,000. These houses are affordable for owners with financial deficiency.
