Flex Spaces in Demand for 90% of Homeowners

Flexible spaces (rooms that support multiple uses) are very or moderately important for 90% of homeowners, according to a survey of over 2,000 by Hippo Home Insurance. For homeowners of new construction homes, that number is even higher at 94%. 

With demand for these spaces high, the majority (86%) said they’re willing to pay more for a home with a well-designed flex room. In fact, 34% of new construction homeowners said they’d pay $10,000-$20,000 more, and 32% of existing home homeowners said they’d spend $5,000-$10,000 more. 

Which flexible spaces would they most likely be interested in? 

1. Guest room or convertible bedroom (52%)
2. Home office (46%) 
3. Hobby or creative studio (34%) 
4. Home gym or wellness room (32%) 
5. Multi-use storage or mudroom (37%) 

Owners of existing homes most said they valued guest rooms or convertible bedrooms (59%), and new construction homeowners most said home offices (51%).  

Desired features for these spaces include: 

1. Access to natural light (45% for new construction owners, 54% for owners of existing homes) 
2. Privacy features, like sliding doors and room dividers (43% for both) 
3. Built-in or hidden storage (40% for new construction, 56% for existing) 
4. Open floor plan (40% for new construction, 42% for existing)
5. Convertible furniture, like Murphy beds and folding desks (35% for new construction, 25% for existing)