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Larger homes remain high on homeowners’ wish lists

September 9, 2013
From Loan Officer Eddie Kirby

From Loan Officer Eddie Kirby

Even in the midst of the nation’s housing downturn, the desire for larger, more spacious homes has remained steady. So steady that new four-bedroom homes are becoming almost as common as three-bedroom abodes – and they continue to grow in popularity.

What’s driving the need for more space? Families want flexibility in how they use rooms and in who uses them. As baby-boomer parents age and college-aged sons and daughters move back home as they struggle to find jobs, homeowners are welcoming multi-generations into their homes, which requires additional square footage.

In addition, with a growing amount of today’s media and entertainment viewed on demand, bedrooms are not just places to sleep and hang clothes… they are becoming the place where family members go to enjoy the specific media they want, whether its available in the main living area or not.

This need for space doesn’t extend to the lot size, however. Lot sizes have remained about the same even as the home footprint on them has grown. Homeowners still place a premium on using the outdoor space as an extension of their living space, by adding patios, water features, outdoor fireplaces, and more, but they seem comfortable doing it with less acreage around them.

Sidebar: Today, the typical new home is 2,306 square feet, which is 50% larger than an average home in 1973.


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