Basements No Longer as Popular in New Construction.
Single family home with 2,000 square feet of living space on one level.
According to the National Association of Home Builders Survey of Construction, basements are not desired as in the past. Up to 60% of single family homes were built-slab-on grade in 2018. Only 24.3% of homes were built with full or partial basements.
Recently, potential home buyers fell in love with a walk-out basement home, offering amazing red rock views sitting high upon a hill. For the two of them, the main floor was more than adequate, so the the entire bottom floor would have been wasted space.
Opting out, they realized the basement was not an asset, instead discovering a beautiful, smaller slab-on-grade home in an established neighborhood. An offer was submitted, a few terms negotiated and they will now enjoy a one-level home for many years.
St. George has always been known as a retirement community, so builders are wise to creating an environment that accommodates 55+ active adult buyers. One level homes are common-place and Baby Boomers continue to flock here for the life-style!
The advantages of single level living:
- Cost-effective building standard
- Very little to zero maintenance in the long run
- No falls down the stairs when navigating to the lower floor
- Confidence gained in knowing that owners are able to age-in-place
Grown kids cannot live in the basement, sucking the life out of their parents
Market Snapshot on Single Level Homes
Currently, there are 722 slab-on-grade, single level properties for sale in Washington County, Utah only as of 12/9/2019. Prices range from $15K for a park model to $22MIL for a sprawling estate on 620 acres. 720 properties have sold in the last 30 days, 1,742 properties have sold in the last 6 months and 212 pending in the 30 days.
Have more questions about single-level living? Call me to help with all your residential real estate needs because Wanda Can! 435.632.9374
For the entire article, click here: Basements Continue to Fall Out of Favor