The trend towards larger homes
There is a growing trend towards larger homes while the typical American family is actually getting smaller in size. There was an interesting article in today's Charleston Post and Courier about the desire for big houses increasing. Just the other day, I was interested in finding about about architectural styles so I did what I do so often, I googled "architecture wikipedia" so that I could find out what the vast resources of Wikipedia had to say and what did I come across as one of the styles but the derisive term, McMansion. (And by the way, I would recommend using Wikipedia for finding out about almost anything and everything you are interested in).
In thinking about the size requirements clients have been asking for in the Charleston South Carolina real estate market, the trend toward larger homes by apparently smaller families is certainly evident. Here are a few things I've been noticing.
In luxury real estate, square footage is now ranging from 3000 square feet to 5000 square feet but functionality of the rooms is critical. The master is definitely down. The main floor will feature a gourmet kitchen as the heart of the home and will offer a keeping room, family room and formal dining room with a screened porch and patios for entertaining. Most likely, it will be a very open and flowing floor plan. There will likely be a formal living room but it may be converted to a home office or study. The laundry room and a powder room will likely complete the living areas on this floor. Several other trends I've noticed recently is the true dual master concept with an inlaw suite down and the owner's master upstairs, the in law suite could be entirely self sufficient with a small kitchen and sitting area, detached garages with a guest suite above and a newer concept of his and her home offices.
Upstairs, you will find a minimum of 3 additional bedrooms, in many cases, one of the bedrooms will have a private bath and the other two will share a Jack and Jill. A 4th space will generally serve as a media room or a playroom but in other cases, there will be 4 bedrooms up, two with private baths, the other two sharing a Jack and Jill and an additional media room or playroom will round out the floor. The most interesting aspect of the above described home is that it could be what an empty nester couple is looking for just as easily a family with 2 or 3 young children.
The luxury dream home is designed for entertaining family and friends in comfort and style and the trend is toward larger spaces and more bedrooms.
At more moderate price points, the trend is towards larger homes as well and what I've noticed is that the parents want each of their children to have a bedroom of their own and if possible, one additional bedroom set aside as a guest room. With all the "stuff" the kids of today have, the space is definitely needed. When I was a child and was punished by my parents and sent to my room, it wasn't quite as nice as the kid's rooms of today totally outfitted with computers and media equipment.
As for empty nesters or young couple just starting out, the choices are almost endless with condos or townhomes, a duplex or a single family home. The young couple may be planning their purchase with an idea as to how much space they might need in the future as their family grows. The empty nester might be considering how many family members will be visiting from time to time. Lifestyle considerations and maintenance free living are additional considerations. In almost every case, the trend is towards larger homes despite the higher price. The number of homes with 4 bedrooms and 2000 + square feet are becoming the norm and feeling comfortable in your home at whatever price point you can afford.