Grand Homes Redesigns for Market Changes

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Posted on 25th March 2011 by Grand_Homes in Dallas Real Estate |Real Estate News

Dallas Morning News, Grand Homes, Stephen Brooks

McKinney Grand HomesAs the homebuilding industry continues to face changing market conditions and demographics, several Dallas homebuilders are working hard to design the kind of houses buyers are searching for. Grand Homes CEO Stephen Brooks discusses re-designing for today’s market and families in this Dallas Morning News story.

“There is a lot of pressure today to retool,” said Steve Brooks, CEO of Addison-based Grand Homes. “We had to redesign houses and figure out what kind of product people would want to buy.

“We have to keep reinventing our plans.”

That’s an expensive proposition for builders, who can’t afford to fritter away thousands of dollars on floor plans and features that don’t meet buyers’ needs and expectations.

Consultants are telling them that the next generation of consumers won’t want the big-box houses that were the industry’s bread and butter before the crash.

Grand Homes McKinney “The industry has been talking about this for years and years,” said Dr. James Gaines, an economist at the Real Estate Center at Texas A&M University. “They are afraid to change a successful model.

Brooks said his independent building firm now offers 240 floor plans that buyers can adjust to their tastes.

“With multicultural and generational buyers, you have to have so much more product today than ever before,” he said.

“The new generation of buyer has no purpose for a living room. They’d rather have a game room or a media room. And they don’t need that fourth bedroom.”

Some of Grand Homes’ new models offer “Life Spaces” — rooms that can be outfitted for a variety of uses.

But builders still have steady business from “move-up” buyers who want a familiar suburban home.

“We’ve had to keep our old designs for our older customers,” Brooks said.

Story by Steve Brown, Dallas Morning News. Read the full article in the Dallas Morning News.

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