Is your house too big for the new buyer pool?


Recent trends in national real estate are showing a rejection of the McMansions of the 1990-2000’s in favor of smaller, more efficient homes. At Town and Country we have seen this trend in new construction especially across the region, with large homes often having much higher costs to construct than the home is valued upon completion.

Baby Boomers, who grew up during some of the largest growth in the nation’s economy, built big as a general trend. Millennial, who have come of age in the turbulence of the economy since 2000, seem to not have the appetite for these larger homes and the larger costs that come along with them.

Nationally, a bubble appears to be forming/popping among these large homes, and our data supports that this trend will have a large effect on the market of large homes in the years to come (unlike many national trends of 6% annual growth or the collapse of 2008). If you plan on building a home in the next 5 years it is an absolute necessity that you get an appraisal BEFORE you sign a contract. It may save you hundreds of thousands of dollars.