Bigger does not always mean better in todays luxury home market as many high-end homeowners are skimping on size to make room for expensive amenities.
In the past, the luxury real estate has been defined by the size of homes, but today many are scaling down on the size. Real estate brokers say more and more clients are shaving off square footage to give priority to sustainability and smart design––including solar power and becoming LEED platinum certified.
For example, last year mortgage banker Heidi Brunet built a 2,085 square foot home in Dallas with extra additives like soy-based, energy-efficient insulation, stained concrete floors, and $48,000 LED lighting system.
Instead of splurging on space in the house, she chose to have a large yard with a 1,000 square foot deck, and a pool because she spends most of her time outside. To Brunet she “wanted the house to be everything I needed it to be and nothing more”.
Architects design size-conscious homes by removing unnecessary space like formal living rooms, dining rooms, and large hallways. Some regions are also attempting to regulate home size with new ordinances; For example, city planners in Austin, Texas created the 2006 “McMansion ordinance’” which limits floor area to 40% of a lot size. Also, in 2010, Marin County, California required any plans to double homes size more than 3,000 square feet to undergo a design review.
The lesson? A home can still be a dream home no matter the size.
This article can be found in its original form on WSJ.
Photo: Wall Street Journal