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MansionAre McMansions on Their Way Out? 

A recent article in the Wall Street Journal discussed the fact that "America's love affair with McMansions continues to wane."  However, it is not exactly clear whether this trend is due to a lack of love or if it is just in line with our current economic situation. 

For the past three decades home sizes have continuously increased.  However, they began to fall flat in 2008 to an average of 2,521 square feet and actually started to decline in 2009.  

 

Certainly, a larger home is tougher on the pocketbook when it comes to heating and cooling. And, the tax man cometh with a bigger price tag for the extra square footage. But are Americans really losing their desire for space? 

Last year the percentage of single-family homes that were only one story increased to 47%. One-story homes had previously been out of favor hitting a low of 43% in 2006 and 2007. 

The national level for the number of bedrooms has also decreased. Only 34% of homes last year had four or more bedrooms. In addition, homes with fewer bathrooms have started a trend. A very sad one for those of us who enjoy hour-long soaks in a Jacuzzi tub. 

Living in the land of grand colonials which are predominant throughout Metrowest Massachusetts in towns like Hopkinton, Southborough, Westborough, Holliston, Natick and Ashland, I have not yet seen the "dwindling home" as an overwhelming movement in this area.  However, I have noticed some builders of new colonials making them smaller to accommodate buyers with more modest budgets. 

Even with the drift away from McMansions, there are some items that buyers are still insisting on in their newly constructed homes: 

  • Laundry rooms.
  • Insulated front doors.
  • Great rooms.
  • Walk-in closets in the master.
  • Energy-efficient widows.
  • Linen closets.
  • Programmable thermostats.
  • Energy-efficient appliances and lighting.
  • Nine-foot ceilings on the first floor.
  • Separate shower and tub in master bathrooms. 

The trend toward smaller and more affordable homes may actually be a positive one to help new home buyers get into the market.  However, it will be interesting to see if home sizes shift upward again once the economy improves.

 Copyright 2010 "Are McMansions on Their Way Out?"

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Claudette Millette, Broker, Owner, The Buyers' Counsel - (508) 881-6230

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22 Comments on Are McMansions on Their Way Out?

JUL
09
2010
428,341 Points 8 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I think McMansions are only "out" because people can't afford them at the moment.  As soon as more profitable times return I think people will begin to buy them again. 

3:34pm • #1
5 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Claudette: So very interesting! I'll bet one of the major reasons is the one you mentioned: the TAX MAN! I also know that one story homes, or homes with the master bedroom downstairs are very popular with buyers. Thansk for the post and the info!

3:34pm • #2
519,126 Points 43 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Claudette, I believe Stacey has a good point, and I also agree with you that these reports are coming out saying one thing, but my eyes are telling me another. I can say this, compared to the house that my parents and two sisters grew up in, these homes are huge....

3:36pm • #3
584,569 Points 69 Featured Posts Called Shot Master

Claudette - While part of me is seeing some of the desire for McMansions waning in the higher end market, my buyers (lower end of the market) are still wanting some of the features you mention when moving from their rentals into their first home.  Master suites (with walk-in closets) and kitchen islands are biggies with my clients.

On a more personal note, as soon as hubby and I can afford it, we want to sell our 2-story for a 1-story.  Hubbys knees aren't what they used to be.

3:37pm • #4
262,540 Points 3 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

In my area we do have new home builders looking to downsize some of their floorplans. If it makes homes more affordable I think it will help to stimulate the economy. As for the McMansions there will always be a place for them.

3:40pm • #5
341,792 Points 8 Featured Posts Localism Sponsor

While I am seeing a lot more clients who desire one story homes, my buyers still love their space. So McMansion or not..space is still highly desired in my neck of the woods.

3:41pm • #6
395,027 Points 35 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp

Stacey-Ann:

I agree.  I think the economy has a lot to do with the movement toward smaller homes right now.

Julissa:

First-floor masters have not actually caught on in my area just yet. Nor have one-story homes.  But, I think, nationally, it may be more of a trend.

Gerry:

I also grew up in a ranch home (which would now make me feel claustrophobic) so I am a bit partial to the big colonials.  I don't want to see them fall out of favor at all.

Donne:

So, right - going up and down the stairs can be very hard on the legs and on the knees, in particular.

Teral:

I hope you are right about that.  I certainly do like to sell them and so many of my clients have been happy with their large homes.

Keisha:

Once you are accustomed to living in 2700 square feet plus - going back to a small space is not easy.  It may be more practical and economical but is still an adjustment.

 

 

4:17pm • #7
109,714 Points 8 Featured Posts Called Shot Master

Oh, honey, in the South the love affair continues.  The bigger the better counts not just for hair, but for houses too! 

Atlantans would rather lose the upgrades of hardwood and granite than do without one square inch! 

Family of 3? 

5000 sq ft RIGHT THIS WAY, please!

4:20pm • #8
395,027 Points 35 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp

Jenna:

Houses and hair? I guess both of these are still big in the South. Actually, that is comforting to hear.

 

4:40pm • #9
584,569 Points 69 Featured Posts Called Shot Master

"Family of 3?  5000 sq ft RIGHT THIS WAY, please!"  LMAO!!!  You're so funny Jenna!  Out here on the left coast, location aside, my clients are more interested in the upgrades than the space.

3,500 sq. ft. totally dated, dilapidated, dump - NEXT!!!

2,000 sq. ft. totally remodeled, move-in ready charmer - GAZILLION OFFERS OVER LIST PRICE!!!

4:46pm • #10
267,611 Points 4 Featured Posts Outside Blog

Another important factor may be the growing awareness of environmental concerns and energy efficiency. Large homes are full of wastes and inefficiency but smaller homes are much more environmentally friendly and energy efficient. Still another factor may be that the baby boomers children are now leaving home so the perception of need for a larger home is changing.

5:14pm • #11
109,714 Points 8 Featured Posts Called Shot Master

I think it's the humidity down here that makes our hair BIG!  Hahahahahaha!

5:21pm • #12
769,065 Points 60 Featured Posts Attended Rain Camp Called Shot Master

One of the first questions my buyers always seem to ask when they see a home they like is, "What's the square footage?". I think the need for a McMansion may be in decline, but once consumer confidence and job security rebounds, we'll see them sell like hot cakes at Denny's again!

5:41pm • #13
561,842 Points 54 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

LOL Jenna, too.  I can only hope that the affair is over.  It possibly may since homes that were McMansionized are sitting unsold in my neck of the woods.

6:24pm • #14
395,027 Points 35 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp

Donne:

I think Jenna is a scream.  All that square footage without granite or hardwood? That is really a love of space.

Here we are somewhere in between your description and Jenna's.  The updates and granite are important - but so is the square footage. And we also value acreage and big yards.

John:

You would mention those important features since they are so critical to what you do. But, yes, energy efficiency has become more in the forefront and people are becoming aware of the resources that it takes to heat up the space in the cathedral ceiling areas as well as the bonus rooms.

Jenna:

Humidity will do that - Actually the humidity here has sufficiently puffed up my hair today.  It is steamy!

Craig:

I am in total agreement with that. What is one of the biggest factors that appraisers use? Square footage.  This, of course, varies from area to area.  But, I think in most places - size still matters.

Jane:

Yours is good case in point.  I guess no one can afford what you would have to pay for a huge home now in the Los Angeles area. 

 

7:32pm • #15
327,553 Points 9 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Hi Claudette ~ I had the same thought as John (#11) - I think energy costs will contribute to the trend for smaller (or at least less huge) houses.  My market is so very different - no McMansions to speak of around here so I don't have a lot of first hand experience about their popularity or lack thereof.

Liz

11:41pm • #16
JUL
10
2010
805,358 Points 27 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Good morning Claudette,

Many are opting for the smaller homes fully loaded with upgrades but many of our larger homes have dropped significantly in price d those are being snapped up!

9:56am • #17
395,027 Points 35 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp

Liz:

I think only Bill Gates would be able to afford a McMansion in Cambridge - if such a thing actually exists.  Your property values are extremely high.

Dorie:

People still want the granite counters and nice kitchens and baths even the home is a bit smaller.

 

 

11:44am • #18
133,179 Points 25 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Claudette, I just read an article and posted a blog on the fact that the trend in condos is building smaller.  I mean, itsy bitsy...the Cubix condos in San Francisco are selling all their units of 250 sq. ft. to 350 sq. ft.  And there are projects with all units under 600 sq. ft. in Portland and Chicago.  According to the article Gen Y and downsizing boomers are choosing lifestyle over space. 

It will be interesting to seen the trends over the next ten years.  I love the homes and the large yards in your area.  California (for the most part) is all about the house.  Sometimes it feels like you could shake hands from each others windows.  Too close for my tastes...

12:36pm • #19
395,027 Points 35 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp

Deborah:

At 250 to 350 square feet I would feel more than claustrophobic - they would have to take me away. The townhome my husband and I lived in years ago was 1800 square feet and when we went back to it a week later to retrieve some items after being in a 2700 square foot home we both looked at each other and said, "We actually lived here?"  I guess some people need more space than others.

I lived in the San Francisco Bay area for many years so I know exactly what you mean about close quarters.  Yes, I also like the size of the homes in my area and I really do hope they do not get smaller. 

 

5:00pm • #20
1,049,319 Points 177 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Claudette - I'm not sure because in my area, we sure love our homes BIG. I have an issue though. I personally dont want a big 5,000 sq.ft. home but I do want a nice home. By then, after ALL the upgrades, I may have overbuilt my home, which is not a good business decision. That's why I'm still where I'm at.

Here in TX, everything's just bigger!

6:14pm • #21
JUL
11
2010
395,027 Points 35 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp

Loreena:

Yes, I have heard that famous expression about Texas. Around here homes are also generally pretty large. We will have to watch the progression of this trend but I cannot really imagine houses becoming very small in this area.

 

12:03pm • #22

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Claudette Millette - Metrowest Mass Buyer Broker

Ashland, MA

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