Bigger Isn’t Always Better…
Given the lessons of the real estate boom and bust, there’s a trend that’s emerging: the ‘right sized’ home. Perhaps going the way of the dodo bird are McMansion-sized homes of the recent past. (Really, Tam, could that happen?) I think it’s highly possible.
Ask an empty nester if they want the expense, time, upkeep and hassle of excess square footage that’s rarely used. You’re likely to hear they’d rather be spending their dollars and efforts on things that matter much more to them now. Our needs change over time.
Makes me wonder what it will ultimately do to pricing for those over-scaled homes, when the supply greatly outpaces demand. After all, who truly needs a 700 square foot foyer?
Today’s buyers — young and old — think too big is a waste and too small is a headache. They’d rather have the right spaces, ones that they’ll fully use for their daily life. It makes economical sense to have a smaller home that lives large. Great storage, open spaces that flow.
By utilizing design and construction techniques that visually expand rooms, it’s wonderfully possible to maintain the home’s reasonable footprint and still live large. This trend has even been embraced in the 2013 Smart Home by HGTV, by offering the latest in home technology coupled with eco-friendly features and energy-efficient design. With a smaller, right-sized footprint — how trendy!
Tammy Thrift, Realtor
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