A survey last month by Relocation.com found that McMansions are falling out of fashion like Crocs.
When Americans were asked to pick their ideal home size, 48% said their ideal home size would range from 1,000 to 1,999 square feet, while 29% showed a preference for homes that are 2,000 to 2,999 square feet. Only five years ago, the NAHB (National Association of Homebuilders) reported that the average home’s square footage was 2,400 square feet, which is almost 400 square feet bigger than what many homebuyers desire today.
While many homeowners are preferring smaller homes, likely due to the economy and continued housing market woes, they are also showing a strong preference for the suburbs. Fifty four percent of Americans said they preferred living in a suburban neighborhood vs. a city, but not for reasons you might think. Cost was not a top reason for suburban living; rather, the desire for more space (even within downsized homes) is why suburban living is so attractive.
Click here to see the full survey results.
What do you think? Are smaller, suburban homes the wave of the future?