Investor Relations

Press Release

Meritage Homes Announces Design Collections, A Transformative Approach to New Home Design Supported By New Homebuyer Research

Industry-First Solution to Simplify the Interior Design Process for Buyers of New Home Construction

Company Release - 1/14/2020 1:40 PM ET

SCOTTSDALE, Ariz., Jan. 14, 2020 (GLOBE NEWSWIRE) -- Meritage Homes, the seventh-largest public homebuilder in the U.S., today announced the launch of Design Collections, a transformative, industry-first approach to the design process offering curated options for move-up buyers. Additionally, Meritage Homes shared the findings from a new consumer research study that provided the strategic foundation that drove the development of the new Design Collections and Studio M® experience.

Meritage Homes Studio M lobby
Meritage Homes Studio M® design center


Traditionally, the home design process could be best described with one term: design fatigue. Under that approach, most buyers experience a paradox of choice caused by an over-abundance of selections that often cause stress in decision-making. This complicated decision cycle then prolongs the process beyond what is warranted. According to the new Wakefield study1 commissioned by Meritage Homes, buyers of new home construction across new home builders found a few key barriers to the process which centered around three main concerns: the time needed to design the interior of their new home, making cohesive style choices and sticking to their budget. 

Buyers’ Time is Valuable

  • Many buyers of new home construction found themselves making several trips to the design center due to their inability to make a decision. One in four buyers found the new home construction design process stressful.
  • Nearly 40 percent of buyers spent more than 20 hours in the design center throughout the course of the building process.

Making the Right Choices

  • Once decision choices were made, buyers still experienced stress by worrying if they made the wrong decisions and often experienced buyer’s remorse.
  • Thirty-seven percent of buyers said their homes didn’t turn out the way they wanted — 26 percent of buyers found that their design selections did not come together as expected in the end.

Staying on Budget

  • While design aesthetic is a top concern for buyers, so is their budget. Most buyers come in with a budget they want to stick to during the new home construction process.
  • Forty-five percent of buyers noted they exceeded their budget in upgrades by over $21,000 on average. An overage of this amount often leads to frustration and dissatisfaction.

To transform the new home  interior design process, Design Collections by Meritage Homes are designer-curated collections that enable buyers to confidently and efficiently style the home of their dreams through a streamlined and personalized experience at the Studio M Design Center. Customers are now getting a dream interior with clear, transparent pricing that allows them to select high-quality finishes for a greater value. Ultimately, it enables buyers to have as much peace of mind about their budget as they do about their home’s design.

Instead of searching through thousands of samples for cabinets, countertops and flooring, the Design Collections and the Studio M experience provides buyers with Collections built around expertly coordinated flooring, cabinets, countertops and more that work together perfectly. Streamlined choices result in reduced stress felt by buyers during the design process. Plus, the designer-curated Collections represent both popular and timeless design trends, allowing buyers to select the collection that matches their personal style quickly and easily. The thoughtfully curated Design Collections greatly reduce the time buyers need to spend in the design center from more than 20 hours to three hours on average, without sacrificing choice, leaving buyers thrilled with the experience. At the Studio M Design Centers, buyers can select from a variety of different styles, from Traditional, to Transitional, to Modern.

“I am proud of how our entire organization took a step back to really listen to homebuyers about the pain points of building a new home, and then developed an innovative, first-to-market offering that empowers our buyers to select their styles with confidence, while streamlining the entire process,” said Steve Hilton, CEO, Meritage Homes, “We’ve coupled the new Design Collections offering with our transparent pricing to ensure buyers understand costs clearly while saving them time by reducing the number of design center trips needed to complete their dream home.”

The Studio M Design Centers and Meritage Homes’ Design Collections are now available across Meritage Homes’ communities in Arizona, California, Colorado, Florida, Georgia, North Carolina, Tennessee, and Texas, and will be open in all of the Company’s major markets early this year.

For more information about Meritage Homes and the Studio M Design Centers, please visit https://www.meritagehomes.com/Why-Meritage/Design-Collections.

(1) Wakefield Methodology

The Meritage Homes Survey was conducted by Wakefield Research (www.wakefieldresearch.com) among 1,000 US adults who purchased a new construction home in the past five years, between February 11 and February 25, 2019, using an email invitation and an online survey. Results of any sample are subject to sampling variation. The magnitude of the variation is measurable and is affected by the number of interviews and the level of the percentages expressing the results.

For the interviews conducted in this particular study, the chances are 95 in 100 that a survey result does not vary, plus or minus, by more than 3.1 percentage points from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample.

About Meritage Homes

Meritage Homes is the seventh-largest public homebuilder in the United States, based on homes closed in 2018. Meritage offers a variety of homes that are designed with a focus on first-time and first move-up buyers in Arizona, California, Colorado, Texas, Florida, Georgia, North Carolina, South Carolina and Tennessee.

The Company has designed and built over 120,000 homes in its 34-year history, and has a reputation for its distinctive style, quality construction, and positive customer experience. Meritage is the industry leader in energy-efficient homebuilding and has received the U.S. Environmental Protection Agency's ENERGY STAR® Partner of the Year for Sustained Excellence Award every year since 2013 for innovation and industry leadership in energy efficient homebuilding.

For more information, visit www.meritagehomes.com

Contact: Kaitlyn Garcia
(619) 234-0345
meritage@havasformula.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fc191d9a-d111-4bdf-9d4d-bc181760b9f0

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Source: Meritage Homes Corporation