A home is one of the most significant purchases a person will make. There is no question that the cost of purchasing a home has been challenging recently. Yet, despite some affordability hurdles, many individuals remain interested in buying a house to invest in their future. Home buyers are willing to make exterior and interior compromises to achieve the goal of homeownership.
A recent NAHB study on housing preferences asked home buyers about which specific compromises they would be willing to make to achieve homeownership. One of the top compromises is the actual size of the property. The survey revealed that 39% of buyers say accepting a smaller lot is the path to affording a home. And nearly 4 out of 10 buyers would be willing to give up land in exchange for owning a home.
A smaller lot is one compromise, but what about sacrificing space within a home? A majority of buyers (53%) said they would be willing to have a smaller home office and dining room (52%) to save on square footage. Also, a loud and clear message from home buyers to builders is to leave the kitchen (only 21% would want that smaller) and closet space (22%) alone.
It’s not always about the space; it’s about the layout. New homes offer modern floor plans and designs to 
optimize space and comfort at home. Older homes do not provide the spaciousness that many new homes have. Contemporary designs are not limited to flexible spaces. New homes have the latest technological features and appliances. Also, upgrades and remodels are not in the immediate future with a new home, so you can focus on settling into your new home.
For information on the benefits of new homes, contact your local home builders association HERE.