When I ask most homeowners what their dream home looks like in their head, it usually is a large home located on a huge estate with more room than any one family could use. If this sounds like your ideal home, then you’re not alone.
According to the California Association of Realtors and Trulia, today’s average new home size is more than 2,700 square feet. This is much larger than homes that were built decades ago. Statistics show that this is 57% larger than homes built about 40 years ago. Many of today’s homeowners would prefer a home that is a different size than the home they currently live in.
- Over 60% of Americans are currently looking to downsize their home
- 46% of millennials would like to add more square footage to the home they currently live in
- 26% of Baby Boomers would choose to upsize their home is they could.
- 32% of Americans would choose a home that is the same square footage as the home they currently live in.
Determining the amount of home you need depends on several factors, such as:
- Is your family growing and you need more space? The more children you have, the more bedrooms you need so you may want more square footage.
- Are you retiring soon and plan on vacationing a lot? If so, then perhaps a condo or townhouse is right for you. There is less maintenance and this may better suit your needs.
- Do you have large pets? If so then you may want a yard that is large enough for your pets to run around.
- Are you planning on entertaining a lot of family? If so then you’ll want a home with a large living room, dining room or family room.
- Is family likely to visit often? If so, you may want to have spare bedrooms for guests.
- Do you need more garage space or closet space for your storage needs?
- If you upsize, will this home require a lot more maintenance? Not only will there be more interior maintenance and cleaning but the exterior landscaping and vegetation will also require much more time and money.
If you’re considering upsizing or downsizing your home, please feel free to contact me directly and I’ll gladly discuss with you your home buying options. Don’t hesitate to call me, Ben Rubaclava, today at (951) 444-5825.