The Incredible Shrinking Home
Fifty years ago, luxury could be measured in 1,000 square feet - that was about the average size for a single-family home. Gradually that number has increased again and again until, in recent years, the average size for a new home hovered around the 2,500 square foot mark. This increase in home size, and in price, has effectively shut out a vast segment of of first-time buyers from the new home market.
Luckily for many, the trend is finally starting to turn. Local builders are starting the notice the increasing void in the smaller homes market. They are also finding that lower prices are much more attractive to the average buyer in this market than luxuries and amenities. Smaller homes also save money when it comes to buying land. When two smaller houses can be built on the same space as one over-sized home, the savings can be passed on to the buyers. For all these reasons, many builders are starting to increase their planned number of smaller homes.
This will be a boon for many home-buyers. Not just first-time buyers but anybody looking for a chance to downgrade their home will be benefited. Now it will be easier than ever to downsize and still get a sparkling new home!
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