Is a paradigm shift coming to housing because of rising oil prices
While the reasons Americans began to stay at home in reaction to the 9/11 attacks were different than choosing to stay at home rather than fill the gas tank of your car, truck or SUV up for $50 or $100, I think the home will become much more of a sanctuary in future years.
Lately, I've noticed that a lot of people are fixing up their homes rather than trading up because of more difficult Charleston real estate market conditions. I alluded to spending our tax rebate check to expand our patio and I've noticed several of my neighbors taking on home improvement projects to make living in their homes more enjoyable rather than putting their home up for sale and trading up to a larger and more luxurious home. Some projects are designed for energy efficiency like installing tank less hot water heaters while others are adding sun rooms, installing hardwood floors, creating home entertainment areas and doing other projects.
Look for more telecommuting and the need for a home office, media rooms for home entertainment, bigger and more lavish kitchens for entertaining guests and giving more thought to home utility bills with a focus on energy efficiency.
What do you think about future housing trends and have you changed your lifestyle because of the rising cost of filling your car up?
Sunroom photo courtesy of Flickr by Beaster725.