Let’s make Florida the epicenter for creative home designs for all lifestyles: Opinion

Today, one in seven families have a child on the autism spectrum and even more families are living with an aging or disabled parent. Those with disabilities and illnesses represent the largest percent of the American population. According to a study by AARP, there are 10 million millennials living at home who are unpaid “caregivers,” devoting 20+ hours a week while also having a full-time job outside of the home.

In 2016, lendingtree.com showed new residents brought $30.2 billion into Florida. A study by The Suddath Companies showed the state’s robust job market is drawing young talent from across the United States. New residents have the option to move their families or their businesses to Florida and many employees and CEOs’ are working remotely from their company headquarters in New York, LA or Chicago.

The Suddath study went on to show that 60% of relocations to the state fell under such categories as young single adults, young families and families with children still living at home.

This growth shift is creating a new demand in South Florida’s home designs and driving changes in the economy. Examples are seen by the new home loan options and shifts in family trusts.

Home loans: Because of this dynamic cultural explosion, government-backed Fannie Mae has created a “Family Opportunity Loan.” It allows a second home to be financed at a much lower rate than what a second home would normally be financed. This is to help a family prepare and provide for the 1-in-7 children with autism or the aging parent who wants to age in place.The average loan limit in 2019 for this program is $314,827 and requires only 5% down.

Special needs trusts (SNT): The legal community has seen an increase of 21% in the past 15 years for the number of special needs trusts. The SNT will allow aging parents of special needs children the option of buying another home for the special needs child or setting up what will be needed for the child after the passing of the parent(s).

So how does this impact the real estate market?

These home buyers want construction designs that will meet the needs of the changing family dynamic, are low-maintenance, technology driven — luxury designs with options for aging in place or help for the disabled child.

On a personal level…(my twin brother has cerebral palsy and my late father had Parkinson’s), I have experienced the shortcomings of standard home designs. Today I understand design as it relates to building for special needs and also design needs for the caregiver.

I have visited many construction projects, and I know that most needs/requirements for this population group are NOT being met. While developers are attempting to adapt to the changing market they fall short.

The caregiver industry will generate $375 billion annually by next year. Sadly, developers have not given this a thought in home design.

However, there are new building concepts that address the five major disabilities and illnesses. They incorporate aesthetically pleasing designs, and the homes are highly desirable for resale, while taking into account the need for luxury and technology. It is time for home design to meet the requirement of today’s emerging population!

Developers need to get on board NOW!

As more residents move to Florida every year, 60% of these buyers will want/demand better home designs to meet their needs and requirements. Home location in 2020 and beyond will be more than just which school district the home is located.

Desirability will include proximity to top hospitals, professional support services, a sports cluster, a town center and a community life all within walking distance. As always in the world of real estate, it’s all about location, location, location. Silicon Valley is the global hub for technology and start-ups; let’s make Florida the global epicenter for health, wellness and creative home designs for ALL lifestyles.

Juliette Mavroleon is a real estate agent with Mavroleon Real Estate Group, which is affiliated with Beachfront Realty Inc.