By Melissa Dittmann Tracey, REALTOR® Magazine
The sluggish housing market has reshaped what Americans will look for in their next home as home owners get more practical with their wish-list and wiser about their use of space.
By 2015, homes are expected to average 2,152 square feet–10 percent smaller than the average size of single-family homes in the first three quarters of 2010, according to a recent study by the National Association of Home Builders.
Say goodbye to living rooms–they are likely to be the first casualty in new homes due to the dwindling square footage. More than half of builders say they expect that by 2015 the living room will merge with other spaces in the home, and 30 percent say living rooms will vanish completely.
Here are some other predictions about the changes in design of new homes by 2015, according to the survey:
- Family rooms likely will increase in size–the only area of a home expected to get larger.
- The size of the entryway foyer and dining room are expected to get smaller.
- New homes in 2015 will likely come with the following: A great room containing the kitchen, foyer, and living room; walk-in closets in the master bedroom; a separate laundry room; ceiling fans; a master bedroom on the first floor in two-story homes; and a two-car garage.
I agree with this wholeheartedly. Not only is there a movement toward energy efficiency, which no doubt means no more McMansions, but in order for builders to avoid increasing their prices in an economy that wouldn’t support price increases, they have to reduce what they’re offering to the consumer. This does not mean they’re forsaking quality, but it does mean that the consumer may pay the same for a 2000 sqft home in 2015 as they might pay for a 2500 sqft home today. I also find Melissa’s third bullet point to be most true – This is what my buyers are requesting now, in 2011.