| The end of the McMansion era has left us with many | | | | more reasonable amount of house that still fulfills their |
| empty remnants of the style that is now seen in many | | | | needs. |
| quarters as a stark illustration of the frivolity of the | | | | The benefit of buying a better house for your money |
| housing bubble. Unfortunately, for those left holding the | | | | instead of just more house is that your home will retain |
| deeds of these oversized architectural Frankensteins | | | | its value longer if it’s built with quality construction |
| in the resulting housing crash, home buyers tastes | | | | and finishing. Due to the current trend to buying and |
| have shifted away mega-sized abodes to buying | | | | building homes that have a more direct correlation to |
| reasonably sized, quality homes. | | | | the amount of space that a family actually requires |
| The years of lenders setting up home buyers with | | | | compared to how much space the home has, |
| subprime adjustable rate mortgages resulted in many | | | | desirable homes have become somewhat smaller in |
| people buying or building homes far beyond their | | | | general as well. |
| means that they could make payments on in the | | | | Smaller homes with a lower price tag are an asset for |
| beginning but once their mortgage rates started to slide | | | | the market currently, because while it used to be |
| upwards they could no longer afford to pay their | | | | possible to buy a home with no money or very little |
| mortgage payments and homes starting piling up on | | | | money as a down payment, this is no longer the case. |
| the foreclosure and shortsale market. For many of | | | | In many areas, lenders are requiring 25% of the cost |
| these people, the new trend of massive homes with a | | | | of a home as a down payment. Consequently, the |
| plethora of specialty rooms that used up as much of | | | | price of a home that buyers can afford to purchase is |
| the lots that they were built on was an appealing | | | | diminished. |
| choice. | | | | Across the country the home size trend does have a |
| Fast forward to the present, and for many people | | | | great deal of variation either for smaller or larger |
| buying homes currently, the large, bland, oversized | | | | footprints; some areas haven’t suffered nearly as |
| homes that exemplified the housing boom so | | | | much of a decrease in home values and therefore |
| well—the uninspired architecture of the | | | | owners haven’t lost as much equity in their homes. |
| McMansion—are the antithesis of what they now | | | | However, regardless of the sizes and prices, quality |
| are looking for in a home. We have hopefully realised | | | | construction and finishing seems to be king for the time |
| that “more” isn’t necessarily better; in fact, | | | | being, and rightly so; quality homes hold their value over |
| many home buyers are on the lookout now for a | | | | time. |