DOWNSIZING HOME SIZES?
NOT QUITE YET!!!
I don't believe we'll see a significant movement towards smaller homes until the cost of land comes down to a point where it is cost effective for developers and builders to add the cost of improvements to the cost of a lot and still make a profit.
We're not there yet except with townhomes/condos and "Z" lots.
Not happening in my market.
"Downsizing" in my area means townhomes and condos. That happened decades ago.
The single family detached home has not been downsized and the average is about 2,500 square feet above grade.
The home shown here is in a 55+ community where the homes are about 1,600 square feet on a 1/5 acre lot. Prices today?? About $400,000.
Like many others in the “Baby Boomer” generation, I am approaching the point in life where I am ready to reassess both my future plans AND my current lifestyle.
Downsizing is NOT just about smaller spaces. It’s about assaying what is really important in life, and what we can actually live without.
I have always been a minimalist to some extent, but now even more so. All I need is a place that keeps me cool in the summer, warm in the winter, simple wholesome food and the love and affection of my family and friends.
If you combine this mindset with the trend towards more energy efficient “green” thinking, it would seem that the future of house is definitely leaning toward “smaller.”
The long term outlook for housing seems to be “less is better!”
Not because we HAVE to, but because we WANT to!
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