Home Sizes and Home Buyers
- Median size of homes purchased in 2008: 1,825 sq. ft.
- Median home size, first-time buyers: 1,580 sq. ft.
- Median home size, repeat buyers: 2,030 sq. ft.
- 17% of all buyers reported making compromises on home size
According to the American Institute of Architects, there is a demand for less living space and, overall, the demand for smaller-sized homes has increased.
In addition to smaller homes, some are opting for lower ceilings. Now there’s a change! The soaring two-story ceilings were all the rage for many years — and rightly so, as the look and feel were grandiose. The problem is heating and air-conditioning all that empty space. Truth is, the large homes and high-volume living spaces have become unaffordable for many.
Here’s another trend that has emerged as a desire in this terrible economy. There is interest in home improvements such as finished basements and finished attics. Perhaps basements in Florida aren’t such a good idea, but in a good part of the rest of the country, they are. Same goes for attics. A survey taken by the AIA in the first quarter of 2009 revealed the desire for smaller homes and finished basements and attics.
The survey focused specifically on home layout and use, and those surveyed were architects.
According to Kermit Baker of the AIA, “As the housing boom has passed, there seems to be a renewed interest in investing in properties to make homes more livable, as opposed to real estate that can be resold quickly for a profit.”
Now the problem seems to be selling that big home so a smaller one can be purchased.
Of course, there is still the aging of America, so there are other interests and concerns for homeowners. Improved accessibility to enable a homeowner to remain in his home as he ages is a big point for both owner and buyer.
Checking that survey again, 63 percent of surveyed architects reported increased inquiries for in-home accessibility features. This could mean tubs and showers that are easier to get in and out of. It also could mean railings on steps in rooms that are called sunken, such as two steps down into a living room.
Forty-nine percent said access into and out of homes was a top concern for homeowners. Too many steps to get in the door is not considered accessible, but a couple of steps that might later fit a ramp is more likable.
They also reported an interest in open layouts as opposed to rooms separated by walls. Freedom of movement from one room to the other is the concern here.
Taking the survey outside for a breath of fresh air, the architects discovered interest in outdoor living elements. Good landscaping, particularly low-maintenance landscaping, ranked high, 67 percent; outdoor living space ranked 60 percent; and blended indoor/outdoor living got a good 51 percent client approval/desirable rate.
