12 Jun Are New Homes Getting Smaller? Not In Atlanta!
The article, posted in National Housing Market cites that there has been a lot of press over the last few years about a shift from the “traditional” single-family house to a more “urban” lifestyle. Society is shifting from the distant suburbs to the closer-in, higher density suburbs. Indeed, data suggests that unit sizes for newly constructed homes has decreased in recent years. The brings up a serious question, is this a fundamental shift in the way that Americans are choosing to live now and into the future, or is it a function of the current economic situation?
You can read the rest of the article here.
One of our colleagues, Donald J. McGrath, Co-Founder/Partner of GMD Design Group, INC replied that they are doing both. GMD has affordable homes with a starting price of $139,000 as well as larger ones up to $1 million.
They are currently working on a project for a national builder in Raleigh where the homes will start at a million. In that same market the starter homes will start at $220,000.
Donald tells us that one of his clients in Atlanta is building a 40×65 4,300-square foot home. The options include up to 8 bedrooms and 2-car garage. Because interest rates are so low, they are doing a lot of big box homes. Buyers seem to be going after larger homes with the maximum square footage they can get for their dollar.
Having work in 15 states right now we are told that the average home size is 3,000 – 3,100 square feet.