Benefits of a Lousy Economy

It is hard to believe but, yes, there is something quiet wonderful happening as a result of this depressing economy.

Our tight budgets are forcing builders to rethink the size and functionality of new homes, and buyers are being forced to rethink their needs.

Six years ago, when you were out there looking at many houses, comparing them, you would have probably appreciated the extra office space upstairs, perhaps the third full bath and the extra large open living room.  Common real estate boasts would be, “Open floor plan, large living room for entertaining, three full baths….”

But today, with less money, efficiency trumps vastness.  Your guests no longer think, “Oh, I am so jealous of your jacuzzi for four,” but instead start calculating the cost of filling the useless tub, and heating the extra space.  Maybe they’ll even be offended by the disregard for the environment when you have lights and heat for an oversized and underused home.

Priorities are changing, not only in our needs as home buyers, but how we view and think of various features.  What used to be luxury, now seems frivolous.

Today we find that builders are taking all of this into consideration.  On average, you can expect new homes to be 10% smaller and much greener by 2015.

Think smaller – smaller home, smaller energy bills, smaller neighborhood. The National Association of Home Builders new study called, “The New Home in 2015,” alludes to the economic downturn for ratcheting up a “less is more” movement that includes everything from homes designed with fewer frivolities to small “pocket neighborhoods” with small homes.

If you are a home buyer, consider your needs and also the resale value in the long run.  Look for a more efficient home, and worry less about the size of it.   It is likely that less rooms will be appreciated.  For example, a living room takes up a lot of space but is barely used.  Why buy a home centered around a useless room?

As a seller, have your home set-up to be the most efficient it can be to reduce your energy bills.  Furthermore, show that all rooms are in use and that your space is useful and liveable.

If we take some mercy on the environment in the meantime, then we are on to something big.

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