![]() |
Real Estate News and Advice |
November 20, 2009 |
|
|
|
|
|
New Home Trends Favor One Story And Small Lots
by Carol Ochs
What style of home do most Americans prefer and how big should it be? The National Association of Home Builders asked that question and got some answers. In a recently published survey, "What 21st Century Home Buyers Want," the NAHB asked thousands of recent or potential homebuyers a host of questions about what they're looking for in a new home. Among the basic questions:
Age and income play a part in buyer preferences. As the age of the head of the household rises, so does the preference for a one-story home. Climbing steps tends to get a lot less desirable as people grow older. On the other hand, the desire for a two-story home rises along with household income. Regional preferences also were evident in the survey. Two-story homes are most popular in the Northeast, while single-story homes are the clear winner in the South Central and South Atlantic states. The desire for a split-level remained relatively constant across the regions. Buyers seem to share one thing in common. Most want more living space. The median size of the respondents' current homes was 1,770 square feet. How much space did they really want? The median response was 2,071 square feet. In 2000, the median size for new single family homes was about 2,070 square feet of floor space. Now, how much land do you need for these bigger homes? Less than you might think. In 1976, the median lot size of new homes was 10,125 square feet. Last year, that median size had slipped to 8,750 square feet. Most people responding to the survey indicated they were looking for 1/4 acre to 1/2 acre lots. That translates to 11,000 to 22,00 square feet. There's the rub. While lot size is on the decline, the desire for bigger homes is rising. Homebuyers want one-story homes, but builders have been responding to the demand for more living space by building more two-story homes. More stories allow expansion of interior space without increasing a home's "footprint" -- the amount of land it uses. This has become more important as land becomes less available and more costly in many metro areas. Which home style works best for you? Consider such factors as:
Carol Ochs is a Washington-based reporter who covers new home trends. Published: October 2, 2001 Use of this article without permission is a violation of federal copyright laws. |
Real Estate News Network
Today's Real Estate Outlook
Mortgage Rates
30 Year Fixed: 4.83% 15 Year Fixed: 4.32% 1 Year Adj: 4.35% (U.S. Weekly Averages) Today's Headlines
Spotlight
|
|||||||||||||||||
| ||||||||||||||||||
|
for Agents
Readers' Choice
|
||||||||||||||||||