Homeowners must now welcome the construction of smaller, but modest houses in every community.
For instance, Parkside Homes President and Nashville house builder Randy Chastain is currently building houses that have fewer rooms and is maximizing spaces as well. He said homeowners now sell their homes for the simple reason that it is too big for them and would rather have a lifestyle that is within their budget.
Americans’ appetite for bigger homes started in 1950 and still continues. During that time, the standard home size was about 1000sq. feet and increased to 500sq. feet in 1970 and 1990. Two years ago, 2,521 square feet was the average house size.
The American Institute of Architects said that properties started to decrease in size in 2008. Consumers are now being practical when it comes to their needs, and house building manufacturers should now make some changes for the demands to be provided.
Living a simple life is what Baby Boomers and Generation Y wants to achieve. The latter buys properties at a younger age and would give up space for lifestyle and location.
On the other hand, Baby Boomers are worried about the increasing energy costs.
Solve LLC Founder Jenn Garrett said that Generation Y is shaping the consumer market enormously. Same thing also happens with Baby Boomers.
Chastain focuses on front porches and kitchens instead of building very spacious rooms. Furthermore, he constructs properties to achieve U.S. Green Building Council’s standards.
Village Real Estate Founder Mark Deutschmann said that not only smaller houses are better, but consumers could also save time for commutes. He sells condos and urban houses to buyers who are willing to have lesser space and time commuting.
Regent Homes house builder David McGowan said that homeowners are concerned about a job loss and that lenders are now stricter in terms of loans. This will reduce the desire for large houses.
Author Resource:-
John Cutts has been educated in the finer points of the foreclosures market over 5 years. Read about the following article Home Builders Now Opt For Smaller Houses by John Cutts.
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