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Most Buyers Want a Smaller Home!

December 28, 2010

Sorry McMansion owners, this does not bode well for you.  In a recent survey, nearly half of all Americans say their ideal home would range from 1000-1999 sq ft.  Just 5 years ago, the National Assoc of Homebuilders reported the average home size to be 2400 sq ft., that is 400 sq ft bigger than what buyers say they currently want.  It seems that sustainability is more important than cost to buyers….those huge houses today seem so over the top and unnecessary, and opulent.  Other findings in the survey:  Suburbia is still king.  54% of Americans still prefer living in the burbs, with the convenience of the city nearby but none of the hustle and bustle.  Main priorities in selecting a home: safety of the neighborhood, proximity to shopping, and size of yard were tops.  Most desirable features: central AC, custom walk in closets, and “top of the line” dishwasher/refrigerators.  Least sought after features: custom window coverings, and in-ground pool or spa.

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