Super Size Me?

Not so fast, the McMansion’s days are numbered.

The size of the new single family homes declined in 2009, dropping to an average of 2,438 square feet, which is still considerably larger than the home my husband grew up in with his 3 siblings that was a mere 1,450 square feet, but smaller than many of the 3000+ square foot behemoths that seemed to dominate the neighborhoods under construction during the “housing bubble” when bigger was often equated with being better.

Seeing now that many developers have revamped their original offerings and have opted to build smaller homes at a less expensive price point in order to stay afloat in the “New Economy” makes me hopeful that we’ve learned something during this economic downturn.

Today, more than ever, homebuyers are conscious of the costs associated with owning a home.  Questions about utility costs and taxes dominate my conversations.   I’ve noticed many new buyers entering the market place don’t want to purchase at the top of their “price range”.  The realistic buyers of today work backwards into what size home they can afford, based on the real cost of ownership (principal, interest, taxes, insurance, maintenance and utilities).

Some economists say that we’ve had a fundamental reset of the economy, I think many out there have had a fundamental reset of the American lifestyle.

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