I was reading an article today that talked about the new trend in home sizes. I was very surprised to read that bigger is not always better, and the newest trend is for smaller homes. The average size of new houses being started in the third quarter of 2008 was 2,438 square feet, down from 2,629 square feet just a quarter before.
Buyers are not so much feeling the need to down-size, as much as they want to "right size." They are giving up unused spaces and wanting homes that better fit their needs. Buyers are wanting what they call "Wii-sized spaces" - family rooms that are flexible enough to accommodate lots of family activities, including room to play the all popular Wii.
Buyers are looking for affordable prices, natural light and comfortable gathering areas.
Some other trends are:
Fewer luxuries - Though things like upgraded landscaping, upgraded finishes like granite and luxurious master suites are still popular, they are becoming less important. And the one new trend that surprised me... fewer fireplaces. 62% of new homes completed in 1991 had at least one fireplace in them while that number dropped to 51% in 2007.
Getting organized- With smaller spaces, organization systems continue to gain popularity. Having every spaced used wisely and having ample of storage are of great importance to buyers.
Going Green - Both do to our concerns for the environment and the current economic situation, buyers are more concerned than ever about having energy-efficient heating and cooling systems. Energy efficient appliances are also very important to buyers, especially freezers. Buyers, as are most Americans, are getting back to basics. Buyers are looking for items on sale and stocking up rather than running to the store every day, so freezers are making a come back.
Just like clothing styles come and go, so do trends in housing change with time. What was cutting edge just a few short years ago may already be considered out of date.
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