Downsizing
According to an article in
USA TODAY, by Wendy Koch “the American dream is shrinking”. In addition to her report, the U.S. Census Bureau reported that the average size home third quarter 2008 was 2,438 square feet down from 2,629 and the median size home was 2,090 down from 2,291. So is bigger better? Apparently not!
Gopal Ahluwalia, director of research for the National Association of Home Builders says, “We’re trending toward smaller homes. Growth in the average size of new single-family homes, which went from 1,750 square feet in 1978 to 2,479 in 2007, is starting to reverse.” Apparently builders are listening to the consumer and are beginning to reduce the size of new homes.
It only makes sense that Americans are looking for smaller homes. With the economy dropping, everyone is on a tight budget. Finding a way to save is the smart thing to do. Buyers are looking for both value in the products used in the home such as double paned windows, insulation, and efficient heaters, appliances and water heaters and a home that is somewhat green.
In theory, many Buyer’s would like to go totally green, but the reality is the cost of such a move. In an effort not to be wasteful Buyers are looking for a well thought out floor plan that provides lots of storage and ample living space. In other words getting the most out of the 1800 square foot home as possible is the goal. Doing with less means a reduced mortgage, less to clean, energy affordability and a reduced amount of waste. There is certainly nothing wrong with the benefits one redeems by going small.
