In recent times, the cost of housing has become increasingly expensive. This is especially true in larger cities, where the price of real estate has skyrocketed. In cities like Perth and Melbourne, the median house price is now over $1 million. This is an unattainable sum for many people, especially first-home buyers and those on a low income.

In response to this problem, residential construction has begun to prioritize smaller homes, providing a much-needed reprieve for those who are struggling to afford a traditional home. This is a positive development, as smaller newly-built homes offer several benefits that make them a more affordable option for many people. 

Why Buyers Are Choosing Smaller Homes 

• Reduced Purchase Price 

When working with a limited budget, prospective homeowners will be able to purchase a smaller home for a fraction of the price of a larger one. And yet, these homes can usually accommodate all the needs of a small family or individual, so they won’t be sacrificing anything by choosing to buy this type of property.

• Reduced Maintenance Costs 

Smaller homes are far cheaper to maintain. Structures like HVAC systems and plumbing will cost less to install and repair in a smaller home. In addition, they’ll spend less on things like painting and carpeting, as there will be less surface area to cover. Smaller homes are also easier to keep clean and tidy, making them less of a hassle to live in, which can be a big relief for busy homeowners. 

• Greater Energy Efficiency 

The price of energy is always fluctuating, but one thing is for sure – it’s not getting any cheaper. Smaller homes are far more energy-efficient than larger ones, requiring less heating and cooling to maintain a comfortable temperature. This will help buyers save money on energy bills each month and reduce their carbon footprint.

• More Flexibility

It would be much easier to downsize or move to a new city if a homeowner isn’t weighed down by a large, expensive home. Smaller homes are also more versatile and easier to modify, making them ideal for people who want to put their own personal touch on their living space. 

With the current housing trends, it appears that these types of properties will only become more popular in the years to come. It would be wise for developers to take this into consideration when planning new construction projects. By providing smaller, more affordable homes, they will be able to appeal to a wider range of buyers and help ease the housing crisis that is plaguing many large cities.

You might also be interested in Real-time Property Tailoring for Each Customer

If you’re looking for a site planning tool that will allow you to easily plan and design smaller homes for a new project, contact canibuild. We offer you access to technology that makes the planning process simple and efficient. Our team can also provide you with expert advice and guidance every step of the way. Request a demo to find out more.