Graduation season is here. Are the kids off to college, leaving you with too much house? Or are they headed back home, leaving everyone craving space of their own? We take a look at trends below:
The National Association of Realtors reports that home sellers aged 54+ downsize by approx. 200 sq. ft. on their next home purchase.
In the past year, only 7 single family homes under 600 sq. ft. sold in Greater Portland.
Although "tiny homes" get plenty of media buzz, condos are the most popular form of downsizing - thanks to maintenance-free living & urban proximity.
The National Association of Realtors reports that 1 in 6 GenXers bought multi-generational homes to accommodate aging parents or adult children.
Finished basements, legal apartments above the garage, or accessory dwelling units (ADUs, aka granny flats) are all popular space solutions.
A deeper look:
Housing flip-flop? Listen to this NPR Marketplace story about a family who’s building an ADU for their kids, with plans to eventually move in themselves.
The National Association of Home Builders reports the average size of new construction homes decreased for the 3rd straight year - down to 2,320 sq. ft. for single family houses.
Marsden Real Estate has a deep resource list to help with a move, whether upsizing or downsizing. Contact us for great recommendations, from movers and cleaners to dumpsters and donation centers!