Listen up home builders Clark County. Go small!
They say real estate is all about three things: location, location, location. In the Vancouver Washington area you might want to add another word to that famous mantra and that word is “small.”
“Small” as in small houses that are in high demand in both Clark County and the Portland Oregon area. By “small” we mean houses between 600 and 1,500 square feet.
Although prices differ depending on various factors, these types of homes generally sell for $200,000 to $250,000.
Why are these hobbit-sized homes in such high demand?
They are in high demand by millennials looking to start a family and baby boomers looking to downsize.
Diminutive domiciles are the perfect fodder for first-time home buyers, who are usually young, which means they are millennials, as well as elderly couples, or baby boomers, looking for something that’s cozy and easy to maintain.
These home buyers are going small not necessarily out of financial necessity but out of desire. The desire to start small or cut down on their space.
There’s only one problem, home builders Clark County, as well as Portland Oregon builders, have underserved this market.
The trend is to build larger homes with at least a couple of thousand square feet.
In fact, homes in America are getting larger. In 1983, the average new home was 1,725 square feet. In 2013, the average new home was 2,598.
In 2005, nine percent of new homes were 1,400 square or less. That number has since shrunk to four percent.
If you want to know more about houses, regardless of their size, contact Tuscany Homes here.