20 October 2014

Buying Smaller Tooele Homes

Just like the national trend, it looks like we are buying smaller Tooele homes. That's what the Tooele County stats say anyway.

From October of 2009, when the average square footage of a house sold in Tooele Utah was 2,533 sq ft to last October the average size of home purchased out here was down 334 sq.ft. That's about a 13% reduction.

I don't know the reason. Maybe it's a result of the "bubble". Maybe it has to do with more homes being sold as distressed property. Perhaps it indicates that home buyers in Tooele are still being cautious with their housing dollar. During that same period as an example the average price of a home sold in the County dropped 4% from around $200,000 to $192,000.

The final numbers for this year are not in yet, but I do know that about 33% of the homes listed in Tooele County are under 1500 sq.ft.

Maybe when the numbers are in and I finish these articles I will have a better explanation of why folks are buying smaller Tooele homes.

In the meantime, I thought it would help you figure out for yourself what's going on by reading some posts from real estate and mortgage experts that offer opinions about the subject.

It was fun for me. Starting with Taryne Leakeys October article about the "Tiny housing market" where she talks about buying ridiculous tiny houses to a great article about the pros and cons of downsizing the various types of home purchases.

Don't miss the piece about first time home-buyers and retirees in the Firsthome article.

Finally, an excellent article from Builders Magazine that talks about how today's builders are building new homes that are smaller w/ open and multi-functional rooms.

Enjoy and learn. We will probably talk about this again


Demystifying the Tiny House Movement | Home Buying Tips ...

Seen the pictures? Read the blogs? Watched the show? Learn the real pluses and minuses of living in 500 square feet or less.

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Neighborhood IQ | Buying a Smaller Home

Real estate involves not only the sale and purchase of single-family homes. In fact, many buyers are opting for other real estate when they are searching for a new home. They are looking at condos, apartments, and co-ops.

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Why Houses Are Getting Smaller

Are you one of the millions who have down-sized recently? Why is there a trend towards buying and building smaller homes? Here we examine some of the main reasons why houses are getting smaller, and offer great ...

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Buyer Survey Says: Smaller Homes With More Open Spaces

The trend among buyers favoring smaller homes with open and multifunctional rooms continued in 2010. But subtle changes in tastes, combined with ongoing shifts in household occupancy, could give alert builders and their ...

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Rationale for Purchasing a Smaller Home

But even in a world where large homes are often considered the greatest symbols of worldly success, we never considered buying a larger home... instead, we looked forward to purchasing a smaller one. A smaller home means...

Read more ...


 

Learn anything helpful?

I think I did, and would be happy to talk with you if you have any questions. Give me a call, Berna Sloan 435-8409-5029. Or if you want to stay current, stop by my blog Tooele Real Estate Stuff  for listings of all Homes for sale in Tooele UT, and tips about buying or selling a home out here.

In any event, let's stay connected, so when the time is right we can work together.

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