According to a survey by the National Association of Home Builders, the average square footage of new homes has been dropping. The median size of new homes being built today is just above 2,100 square feet, down from 2,309 square feet three years ago, in 2007. However, the survey also shows that, while the size of homes has decreased, the price (and cost) per square foot generally has not. Labor costs have gone done, but material costs – copper and steel, for example – have skyrocketed. Recent federal legislation is requiring more energy-efficient (translation, more expensive) insulation, windows and heating/cooling systems. Moreover, more buyers seem to think, “Well, if I’m building smaller, at least I’m going to build better.” As a result, stainless steel appliances, granite countertops and designer touches are de rigueur.
Attractive practicality may be the theme of the day. . .