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My observation FWIW is that people with smaller houses tend to be more interested in the outdoors, incorporating lots of outdoor activites into their lives. This is true even for people with small apartments in cities, where the residents tend to do a lot of shopping, dining, walking outside.
If all a family has is the inside of their house to give them a feeling of space, privacy, and seperation, they tend to want a big one with big rooms, lofty views, interior "scenery".
Anyhow this is just an idea I'm throwing out there as a very broad generalization.
My wife and I went from 2500sq ft to 1350sqft. We are very comfortable in 1350sq ft. What I miss are:
1. 2-3 car garage. We have a one car garage.
2. Big master bath. I miss my own shower. I use her garden/jetted tub which has a built-in shower.
3. Separate toilet room in master bath.
Both were new homes and I do prefer new homes for maintenance reasons.
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