DOWNSIZING HOME SIZES?  Seniors community

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. 

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Via Richard Weisser Coweta Fayette Real Estate:

Downsizing is about more than simple geometry. The future of housing in America.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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All content, including text, original art, photographs and images, is the exclusive property of Coweta Fayette Real Estate, Inc., and may not be used without the expressed written permission of Coweta Fayette Real Estate Better Homes and Gardens Metro Brokers, Newnan Georgia. All information is believed to be accurate but is not warranted, Copyright 2003-2009. Richard Weisser REOS, E-Pro. licensed Auctioneer. 770-827-6225.
Learn more about Coweta County and Fayette County Georgia Real Estate, and to search the entire Georgia MLS for free with no registration required. Visit CowetaFayetteRealEstate.com! Photos of the Great Smoky Mountains National Park. North Georgia Photos.

 

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13 Comments on Downsizing is not just geometry. The future of housing in America.

JUL
18
1,208,022 Points 193 Featured Posts Outside Blog Attended Rain Camp Called Shot Master
At one point, it seemed that way here in Frisco TX (2010) when the "new high" of gas prices were felt as well as the sluggish economy. That was just temporary. We are back onto 4800-5000 sqft homes again!!!
5:37am • #1
1,454,774 Points 46 Featured Posts Outside Blog Called Shot Master

Lenn, I agree with you. Seniors in my area are looking for first floor bedrooms and amenities of active adult communities but are not willing to buy smaller homes. I have friends who actually bought a much  larger home in a 55plus community.
5:38am • #2
1,226,786 Points 79 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Hi Lenn,

We are seeing a shift to smaller more energy efficient homes. It's more about quality than quantity. With energy costs continuing to escalate, gas prices still on the rise many are taking a hard look at the cost of maintaining their McMansions. They still want all the bells and whistles but want less to care for. Life styles are so active with places to go, places to see they don't want such a bite out of their monthly nut going to maintaining space they hardly every use. They are buying second homes and scaling down in size their home residence in our area.
5:42am • #3
480,114 Points 59 Featured Posts Outside Blog Called Shot Master

Hi Lenn,

Here they (the builders) are still thinking bigger is better. In the latest addition to the Quail Run subdivision the home sizes are staying around 2,400 and higher. And the prices are around 200K plus.

I don't see anything on the active drawing boards to build a "smaller community".

Looks like the bigger home are here to stay for a while.

Have a good day in Virginia.

Best, Clint McKie

 
5:43am • #4
1,500,997 Points 355 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Lenn...

Interesting, because real estate is so local. Here in Coweta County GA, foreclosed lots can be purchased under $10K, and the builders are forced to compete with foreclosures. $400K here buys a mansion!
5:52am • #5
1,951,797 Points 478 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Clint. You bet they are.

Dorie.  Not so much here.

Gita.  Agreed.  I hear them say over and over, not big enough, need more room, where's storage.

Loreena.  Here too.
5:52am • #6
197,051 Points 2 Featured Posts Localism Sponsor Hit Router Called Shot Master

Downsizing is happening with my buyers!  They are all looking for less home - partly due to budget, and partly due to lifestyle choices.  I would hate to be invested in a mcmansion these days...
5:54am • #7
632,363 Points 3 Featured Posts Outside Blog Attended Rain Camp

Good morning Lenn,

Downsizing has not made a large trend in our Dallas market...and for the reasons you state - the smaller homes must still have the high end amenities, and most do not.
5:55am • #8
387,487 Points 3 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

This really hut home yesterday as I was sorting our older belongings to give to our college bound kids that will be leaving in a few weeks, We will be empty nesters.
6:14am • #9
389,609 Points 33 Featured Posts Outside Blog Called Shot Master

As a retirement location, often folks that are downsizing from their midwest or east or west home MOVE here, but I haven't yet worked with a seller that was moving that direction.  We have several age-restricted communities but even there, square footage can be generous. (3700 sft +)

I took a quick peek at two such neighborhoods and found that of the 119 sold in the past 6 months, 23 were over 2500 square feet, and 6 were under 1600.  I saw a show once on "folding" homes in Japan - amazingly small and versatile.  It certainly would be a different lifestyle.
8:44am • #10
730,570 Points 103 Featured Posts Outside Blog Called Shot Master

Hi Lenn - While we have moved to much smaller lots over the last two decades in our market, driven by city and county planners who think that's the way to counter urban sprawl, the actual sizes of the homes keep increasing. And like you, the most readily available small alternative is condos and townhomes.
9:13am • #11
1,055,279 Points 287 Featured Posts Outside Blog Called Shot Master

Lenn, I've always been somewhat baffled by the size of homes some folks seem to need to "be happy".  I'd bet there are rooms in their home that get entered once a month and that's about it.
9:28am • #12
1,951,797 Points 478 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Jeanne.  The McMansions are not faring well, but folks still don't want the old communities in many areas here.

Lisa.  I love when someone agrees with me.

Rob.  You hope.

Cara.  Nothing in other countries has ever caught on here except for elevations that resemble other countries style.

Dick.  Yep.  Smaller lots but NOT smaller homes here.

Liz and Bill.  You are describing my home.  Biggest mistake I ever made.
10:00am • #13

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