There was a foreshadowing article from CNBC this week called Death of the ‘McMansion’: Era of Huge Homes is Over. We have witnessed this “right-sizing” trend here at Arlington Place with about half of our owners and potential residents looking for a home around 2,000 square feet or less. This of course, led to the recent introduction of our Arlington Place Cottage Series with packages starting in the upper $200Ks. Good to know that we have what people want!VS
Death of the ‘McMansion’: Era of Huge Homes is Over: They’ve been called McMansions, Starter Castles and Garage Mahals but here’s the latest thing you can call them – History. In the past few years, more towns have passed ordinances against garishly large homes, which are generally over 3,000 square feet and built very close together. What sets a McMansion apart from a regular mansion, according to Wikipedia: They’re tacky, they lack a definitive style and they have a “displeasingly jumbled appearance.”
Well, count 2010 as the year the last nail was hammered into the McCoffin: In its latest report on home-buying trends, real-estate site Trulia declares: “The McMansion Era Is Over.”
Just 9 percent of the people surveyed by Trulia said their ideal home size was over 3,200 square feet. “That’s something that would’ve been unbelievable just a few years back,” said Pete Flint, CEO and co-founder of Trulia. “We continue to move away from the McMansion chapter of residential design, with more demand for practicality throughout the home. McMansions just look and feel out of place today, given the more cautious environment everyone’s living in,” said Paul Bishop with the National Association of Realtors.
And homebuilders are heeding the call: In a survey of builders last year, nine out of 10 said they planned to build smaller or lower-priced homes.
What’s more, many in the real-estate business say they think this trend of downsizing, or “right-sizing,” as Flint likes to call it, is here to stay. “This is absolutely a long-term effect.” The full article can be found here.
Call us for more information on the Cottages at Arlington Place and how you can receive an $8,000 incentive! 800-967-7639