Building Homes in Ontario is going through drastic changes, covid 19 has only quickened the pace. Savvy Builders will take this immediate slowdown to adjust their businesses.
3 areas to focus your future Home Building Business
An aging population and limited senior facilities not to mention fears after COVID-19 means more consumers will look for options to Age in place. Designs should limit stairs, make doorways wider and look for ways to provide maintenance programs to attract the next customer.
Smart homes are already in place, and the internet of everything will become a standard option. EV charging capability, planned communities that consider social heating/cooling, grey water storage and energy generation will attract tomorrow’s consumers.
Tomorrow’s consumer will consider their impact on the environment along with reducing their personal risk by controlling operating costs and dependency on utilities they can’t control. Designs that consider the changing environment will resonate with tomorrow’s consumers.
Consumers are becoming more aware of the dangers of air pollution, demand will grow to prove the safety of products used in homebuilding. Certifications of products and often processes will be surety for consumers.
Home designs with income suites will become more common. The rising cost of home ownership will need to be offset with income opportunities or generational living spaces.
Each generation generally has more “expert” experience…general knowledge is waning. Consumer demand for routine maintenance and extended warranty packages will increase and builders will be seen as the likely provider… Learn an alternative way
The changing weather means that we can’t build homes of the future the way we did in the past. Resilient design and products will be required to consider additional UV damage, wind loads, water penetration and greater temperature fluctuations.
Think LAND, LABOUR and LEAN, in a short amount of time the Ontario landscape of Home Builders will include the very small and the very big. Size does matter as large builders can develop processes to be LEAN and attract labour while having the resources to control land.
Consolidation- Today’s builders that have land and labour (staff) plus some local credibility will be attractive to large corporate builders, coming soon to this area. It is time to get your business built to be acquired. Getting top dollar means you need to get ready today, even if you don’t get acquired your business will be healthier.
LEAN- Ontario Builders must understand that they are manufacturing homes not building them. Manufacturing is the science of making a sellable product that meets specifications with the highest profit.
The future of home building in Ontario is going to become increasingly challenging for builders who wait to do the same thing they did in the past. Savvy creative adaptable Builders will continue to compete.
Ask how HomeBySix can work with you during these challenging times.