Sellers with smaller homes should take advantage of the fact that “The New Economy” has imposed new realities on many buyers. Instead of looking at new and older homes that averaged about 2,500 square feet of living space just a few years ago, buyers are seeking out the savings that come with purchasing homes that are hundreds of square feet smaller. According to a survey conducted by the National Association of Home Builders, builders think average home sizes will continue to decline into 2015, perhaps as much as another 5%. Smaller homes are easier and less costly to maintain, both big pluses for buyers faced with potential increases in energy prices. Sellers with smaller homes should capitalize on this trend.
HINT: Prospective buyers are increasingly eager to purchase homes with “green” improvements such as high-efficiency boilers and furnaces and energy-preserving windows.