Smaller Square-Footage Homes: Part of the “New Normal”
A builder-friend of mine told me this story today.
In September, as the economic melt-down started, he decided that people were going to be forced to start living within their means. He concluded that, what with all the large McMansion-type houses in foreclosure, there was going to be a buyer change-of-heart that would lead to a demand for smaller houses. Much smaller, he determined.
He had a small lot with just a garage on it. It was located in a rural area but close to a medium-sized town. The garage had a 500 square-foot footprint, so the living area he built above the garage had a size of…500 square-feet. One bedroom, a bathroom without a jetted tub, kitchen with no dishwasher (!), but otherwise a new, snug little home ready to make just the right kind of buyer happy.
My friend sold that house today, for just over $100,000, to a retired gentleman of 60 years whose grandchildren live in the nearby town. He paid cash. He had a plan to retire within his means, and he reached that goal. What’s your plan?
Next post: More Smaller, More Better: Live-Work Townhomes in Seattle
©2008/AllenJaworski
November 8th, 2008 at 7:08 pm
looks good
January 24th, 2010 at 9:55 pm
The author of allenjaworski.com has written an excellent article. You have made your point and there is not much to argue about. It is like the following universal truth that you can not argue with: The goal of progress is to end suffering. Thanks for the info.