We’ve all seen the TV shows with the adorable couple trying to convince themselves that they really CAN live with only two dinner plates if it means no mortgage. It is often mocking, sometimes bizarre and at its heart, a very real and increasingly popular concept. Some may say its the logical counterbalance to the McMansion movement of the 2000’s when bigger was better and we showed our impressive wealth (or debt) on our collective doorsteps.
There is a lot to be said for living within our means. Our team makes this a priority for our buyers.. what you CAN afford and what you SHOULD afford are two different things! So its no surprise that intrepid buyers are taking on the challenge of living smaller in order to have more money for a larger life outside of their homes. It also makes sense in a world of finite resources, to be making our individual footprints a bit smaller.
Impact on Real Estate
We are already seeing a new niche develop with buyers being willing to consider much smaller square footage and make more out of less. The challenge is that small homes are in small supply. For those hoping to get a detached home without a lot of sprawl, they may need a long timeline and plenty of patience. We expect to see some entrepreneurial forays into developing communities of smaller or ‘tiny’ homes in our area this year.
Trend In Action
There isn’t a lot for a homeowner to do to make the most of this trend, but its good to be aware of it nonetheless. We hope to see some ‘tiny home’ communities develop in our area and will be working to support those goals wherever possible over the coming years. What do you think – could you handle a ‘tiny home’? – Dee