The Boom Years Are Over And Small Is The New Big For Housing
The days of big homes are over thanks to this wake up call economy. Homeowners are now looking to stay in the 2200 to 2900 sq. feet type home.
Clients are looking to stay smaller but they still want all the goodies in there homes. They also like to have affordable mortgage payments that won’t strap them like before.
With the down sizing also came less energy expenses and with the green movement in full swing clients felt they no longer need to keep up with the Jones anymore.
Investments and clients portfolio’s have taken a major hit also and it may take some time to rebuild them so consumers are shopping for homes and being realistic this time around with there hard earned money.
Hopefully we have learned a great lesson but our past history tells us that home size begins to creep back up as the flow of money increases and the consumers think that bigger is somehow better and they believe it will make for a good investment again.
I think the boom will start again for first time home buyers and with the $8000 help from the government this will get the ball rolling and then were off to building what the clients will buy and want.
Its only a matter of time for the banks and mortgage companies start lending in full swing again and they will come out with some new type loan packages that will entice us to borrow again.
For me I look forward to the days when all the foreclosure mess is behind us and we can move forward with building new homes that fit within our budgets and getting everyone back to work.
Contractors will be eager to remodel homes and market there services to homeowners that would like to stay in their existing homes but maybe need a new room or two.
Please share my post with others and check out our member site at www.contractorblab.com
Happy Home Shopping!
Glen Kohlenberg
{ 1 comment }
Truly that having a huge homes will really make our pockets and savings empty in maintenance and other utility needs. A typical size of home is the best options today if we want to avoid the budget cut. As our economy slowly moving upward again we should be practical in spending our money specially if you want to buy or construct a house. Good thing is there is always a contractors which always offers a lot of good benefits to provide and build our dream house. Practical thinking is the best solution.
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