Nick, & Cindy Davis

Size Makes a difference: Majority of Americans Unhappy with Home’s Square Footage

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When it comes to a home’s square footage, Americans appear to have a Goldilocks mindset: too big, too small, jussstttt right. At least, this is the consensus from the recent Trulia/Harris Poll study. The study, which surveyed over 2,000 American homeowners, found that most folks want a different sized home than the one they’re in now. However, they don’t necessarily wish to go bigger.

Today’s average new home size is over 2,700 square feet, 57% more than homes built about 40 years ago. It’s undeniable that homes are getting larger. But interestingly enough, just because the average home size is getting larger doesn’t mean everybody is looking for more square footage. Actually, 60.6 % of those questioned were trying to downsize. It seems more space doesn’t necessarily mean more comfort.

Size Makes a difference: Majority of Americans Unhappy with Home’s Square Footage

Size Makes a difference: Majority of Americans Unhappy with Home’s Square Footage

Below are some key findings from the survey: As expected, age matters with regards to size. Only 26 % of baby boomers surveyed would up size their homes, whereas 46% of millennial’s would wish to increase the amount of square footage.
Only 32% of those surveyed would select a home the exact same size as the one they’re currently living in if they decided to move within a year. Out of survey respondents currently living in homes larger than 2,000 square feet, only 39.4 percent would select a larger home, compared to 60.6 % looking to downsize.
One interesting takeaway from the study is based on income. It appears the more affluent hope to minimize their square footage, whereas individuals with smaller incomes would like to score more space. Seem backwards? It isn’t. 53% of those making more than $150,000 a year hope to downsize, whereas 65 % of those making under $150,000 say that would snag a larger spot if given the chance.
Nick & Cindy Davis with RE/MAX Premier Group are here to assist you with all your Real Estate Needs here in the Tampa Bay and Surrounding Areas. We are always just a click here or call to 813-300-7116 away.