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Downsizing Now The Trend In North Texas

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TARRANT COUNTY (CBSDFW.COM) – A downsizing trend in North Texas is taking hold when it comes to real estate.

According to industry insiders, gone are the days where home buyers are seeking oversized mass produced single family homes. Specifically, the homes that range from 3,000 to 5,000 square feet.

JP Piccinini, a real estate broker and owner of JP & Associate Realtors in DFW, said the trend is growing because families don’t want those large homes anymore and builders aren’t building them.

“A 5,000 square foot was the norm, now we are down to about 3,000 square feet,” said Piccinini

A recent survey put together by Trulia.com shows home premiums on houses between 3,000 and 5,000 feet continue to drop.

Piccinini said the trend in North Texas is right on par with the national data collected by Trulia.com. He added, “The traditional family has really learned to be more fiscally responsible.”

Another factor driving this trend, according to Piccinini is the fact large vacant lots on which to build are hard to find and expensive.

He said, “You probably have under a 3,000 square foot home. That’s really the hot bread and butter.” Those homes tend to be townhouses, condos, and smaller single family houses.

The Silvia family in North Richland Hills recently swapped out their nearly 3,000 square foot home for a more modest 1400 square house. For them downsizing meant simplifying their life and cutting their bills by half.

Jennifer Silvia said, “You do have to get rid of some of your belongings, but that’s probably a healthy thing to do.”

Industry insiders said as long as there is a huge influx of people coming to DFW who are competing for living space this trend will continue.

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Comments

One Comment

  1. Stephen says:

    It’s funny what people consider a ‘small’ home. Unless you have a large family, 3,000 square feet should be plenty big enough. I guess the two-story foyers and mega-sized bathrooms are passe’?

    My biggest gripe with new homes has to do with efficiency; both space-wise and energy-wise. Unless you’re discussing insulation or energy efficient windows, most builders ignore you when asked about other energy saving features. No attention is paid to the shape, orientation or passive amenities that make the house more comfortable, efficient and affordable over the long run. Solar exposure is rarely considered and solar panels are not likely to come installed. It’s hard to adapt these new homes to solar power later on when most are oriented at weird angles and have roofs that look like the Swiss Alps with peaks and valleys everywhere. It’s a shame this is the default design when you consider how long a home will be around.

    Better to build smaller and smarter to your specifications than to buy one of the cookie cutter development houses popping up everywhere. Buying one of those is like buying a car; you rarely get everything you want and usually end up paying for stuff you don’t need. Who knows how long you’ll be stuck there.

  2. What a timely article. We build in eight states and supply to another dozen and this year we have seen a dramatic change from builders creating McMansion to homes half that size. We see many luxury builders sitting on developments marketed to have huge homes and most of the lots have gone unsold. Which is a bit of a problem since the few buyers bought with the plan of moving into a ritzy neighborhood so the builder would take a lot of heat downsizing in such a development. Sounds like a lot of projects might be getting stuck with the wrong size.

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