In case you haven’t heard, there is a movement … some would say a craze, but small is in when it comes to buying a Fountain Hills home or in most any area for that matter.
I am a baby boomer and I grew up in a 3 bedroom home with one full bath. I would say the square footage was probably around 1700 square feet. Then when us kids reached junior high my parents added a bathroom in the lower level. It was very common for homes to initially be built with one bath back then. As the years went by the homes gradually became larger and then with the real estate boom, came the McMansions. The builders couldn’t build them fast enough or big enough. I was a Realtor back in Illinois in 2005, The price of a lot was going for about $225.000- 250,000 so these cute smaller houses were being torn down by the builders to make room for these humongous houses. These homes were such an eyesore they didn’t even fit into the style of the neighborhood. Arizona had it’s own issues with overbuilding as did other parts of the country.
Now more buyers are looking to downsize into smaller homes or condominiums. In these economic times less is definitely more and here’s why:
More affordable– Buying a smaller homes means smaller intial price tag, less of a down payment, and a reasonable mortgage payment.
Saves more energy– It costs less to heat and cool, as long as you keep your home well insulated.
Decorating- When you have less square footage you don’t have to buy as much furniture or spend as much on decorative assessories.
Family time- Your family spends more time together because there are not as many rooms to “get away.”
Maintenance– Less space to clean, smaller yard work and pool, and if you need a new roof one day you will pay less as you won’t have as much space to cover.
Less storage– This can be a good thing; Time to become less of a pack rat! Get rid of items you don’t need!
Remodeling costs- If you want to update your kitchen or baths, depending on your tastes, costs will be substantially less with a smaller home.