People often consider a spacious home a must-have, but today's savvy homebuyer knows when enough is enough. Having the right amount of space not too much or too little and implementing smart ways of using that space are what define the average American home of today. People like finished basements , a home office , a large master bedroom , a big we're talking the size of a child's bedroom , customized walk-in closet with organizer features, and a tricked-out ensuite master bathroom -- think of one with spa-like amenities, such as a linen closet, a separate shower stall and tub, a double vanity, and a private toilet room.
Other popular features that help maximize space are she sheds a small building separate from the house to be used for whatever the owner likes , man caves, mudrooms , and "bonus" rooms for people to use as they see fit. Other popular home amenities include walk-in pantries, exterior lighting , hardwood floors throughout, and customized garages with storage areas.
Americans have become used to spending more of their paychecks to get the American dream of homeownership. To some, the neighborhood is just as important as or even more important than the home.
Starting around and still going strong today, walkability became a coveted feature. Being able to walk to shops, restaurants, bars, and entertainment has become just as important as the home itself to many homebuyers. To achieve a live-work-play environment, homes no longer need to be in the so-called "hour cities" like New York and San Francisco, places that have become largely unaffordable to most Americans.
Walkable areas are now also found in enclaves outside big cities. The key is to have places for people to go on foot or by bicycle. Along those lines, landscape architecture has also become a huge selling point for the average American home. People like to live in carefully thought-out and planned communities with outdoor green space for gatherings as well as walking trails and planned streetscapes. Savvy investors buy homes people want even before people know they want them.
These investors can be successful by watching trends each year and understanding the type of housing people want to buy or rent. If you study these trends, you should be able to predict the next big thing before it happens as well. Our team of analysts agrees. These 10 real estate plays are the best ways to invest in real estate right now. Find out how you can get started with Real Estate Winners by clicking here.
Advertiser Disclosure We do receive compensation from some affiliate partners whose offers appear here. Millionacres Logo. Tax Deductions Depreciation Capital Gains. Being able to drive farther from a city center meant cheaper land, which meant more space and bigger houses.
This contentedness might reflect a preference, but it also might be a matter of necessity: European cities were established much earlier than American ones. And when cities were fortified, that created boundaries and walls and control mechanisms, [which] has a huge impact on housing patterns. Another point Hirt raised is that land-use regulations in the U. Besides, many cities were focused on rebuilding after the damage of World War II.
Another potential explanation is that some cultural difference is at play, though this is harder to isolate as a direct cause of big houses. Perhaps a fondness for space helps explains why Australia and Canada—both former British colonies with some cultural roots similar to those of the U. The size of American houses, though, could have less to do with laws and culture than it does with simple economics. The richer a country is, the thinking goes, the more space people can buy for themselves.
And the U. Indeed, the median size of a newly built house in the U. When I spoke with Lars Pettersson, a housing economist in Sweden average house size: about 1, square feet , I asked him if he thought more Swedes would choose to have bigger homes if they had the option.
In the case of the U. The results of this process determine what people consider normal. House size is measured by square footage, not all of which is usable. Aiming for the right house size means weighing a lot of variables. For some, a single bedroom condo could be perfect.
For others, a few extra bedrooms will do the trick. How do you determine your ideal house size?
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