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I think that peoples expectations these days are for a bedroom for each kid, a visitors room, a bonus room or whatever people want to call it, and a large size master bedroom as well as a large open plan kitchen/breakfast area. Whatever the current situation with house prices and the economy I personally don't see any movement away from that expectation. As Mike J stated good houses on good lots will always sell, McMansion or otherwise.
good houses on good lots will always sell, McMansion or otherwise
I beg to differ. There's lots of higer end houses over $750,000 that just flat out aren't moving.
More than a few higher end subdivisions have gone bankrupt because few people are are buying or building in there. Higher end homes have taken the biggest hit in decreased value and homes that were 850k-900k 3 years ago are being cut $200,000 just to move them.
What about the legacy @ Jordan Lake for million dollar homes on the lake.
Go see if they're selling well. The builder went under.
good houses on good lots will always sell, McMansion or otherwise
I beg to differ. There's lots of higer end houses over $750,000 that just flat out aren't moving.
More than a few higher end subdivisions have gone bankrupt because few people are are buying or building in there. Higher end homes have taken the biggest hit in decreased value and homes that were 850k-900k 3 years ago are being cut $200,000 just to move them.
I wonder how that can be true when you see $100k and $200k houses being built that have granite. Surely that faboo granite isn't going to blind people to the fact that they're in a starter home?
All the high end magazines show silestone, quartz, marble... since granite is now "accessible" it's no longer exclusive. As a pp stated, you see it on particleboard cabinets! So true! It used to be that granite was a hall mark of a (truly) high end kitchen- great cabinets, Wiolf or Sub Zero appliances, huge floorplans... now it means... just granite!
All the high end magazines show silestone, quartz, marble... since granite is now "accessible" it's no longer exclusive. As a pp stated, you see it on particleboard cabinets! So true! It used to be that granite was a hall mark of a (truly) high end kitchen- great cabinets, Wiolf or Sub Zero appliances, huge floorplans... now it means... just granite!
We have granite (bc that is what the house came with), but I can think of way more fun and interesting things (not to mention less maintenance) to make a countertop from.
I guess I will keep the granite for now (it's nice-looking and functional), but it wouldn't have been my first choice.
Now, we do have Subzero (the whole neighborhood was built with them) and Viking stainless steel...but I have liked stainless steel since I was a kid (20 years ago!), so it's not a trendy thing...
I think people should just make their kitchens the way they like 'em to be. Unless they have to sell really fast or something. Everything about your house should be about what YOU enjoy...not showing off to some people who don't really matter.
I think people should just make their kitchens the way they like 'em to be. Unless they have to sell really fast or something. Everything about your house should be about what YOU enjoy...not showing off to some people who don't really matter.
Best post of the thread. The general "we" need to stop thinking of our houses at buy & sell assets; we need to start thinking of them as homes and actually live in them. Wouldn't hurt to discard the "move up as soon as you think you can afford it" mentality either.
There are smaller homes (less than 2500 SF) available in some pockets of the Triangle that are nicely detailed and well built. The trick with keeping them affordable (and I'll define that as being around $125 per square foot) is lot cost, which means that those houses won't go up in "hot" areas like West Cary. If a builder has to pay over $100K for a lot that is less than .20 acres he has no choice but to put as much house on that lot as he possibly can.
A good example of the type of thing I am describing would be the cottage section of Sunset Oaks in Holly Springs. The lots in that section sold to the builder at pricing around $40K or less, giving him the ability to build a quality product around 2000 SF with nice detailing and selling it under $300K.
Best post of the thread. The general "we" need to stop thinking of our houses at buy & sell assets; we need to start thinking of them as homes and actually live in them. Wouldn't hurt to discard the "move up as soon as you think you can afford it" mentality either.
I agree. We bought this house as our first home...and hopefully our last home (until we retire to a tropical island). Granted, it's huge, expensive, and in the best part of town, but it's all because we love it, we love where we live, we love our neighbors, we love the schools, and we know it will be a great long term investment.
But in the years we'll be here, we're making it our own...not some show palace to impress the nincompoops who don't matter to us and who would pass judgment about things that are none of their business.
So maybe we won't hire a professional decorator like a lot of the people around here, and maybe our homey taste sucks ass, but as long as we like it...who cares?
What irks me is that many people think just because we DID buy in this part of town, we're superficial and show-offs. The stupid judgment goes both ways.
I said YEARS AGO that we are spoiled in this area since we ALWAYS got our 5% to 6% appreciation!
I used to have to explain to my clients that just because YOU decided to add on to your deck does not mean that you are going to recoup every penny you put in to it. Why did we think that just because we paid to have something that we wanted that we'd get our money back for it?
If I buy a new car, I don't expect to re sell it in 4 years and get all the money I paid for it!
Having said that...I will tell you that MOST of my clients buy a house to LIVE IN IT. It is a HOME. Most of them did not think it was an investment. The fact that it did appreciate was icing on the cake!
Even if homes never appreciated, most people want their own home. Most people are not happy with renting. They want to own it.
Vicki
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