There’s no arguing it, affordability is still tight. And if you’re trying to buy a home, that may mean you need to look at smaller houses to find one that’s still in your budget But there is a silver lining: builders are focused on building these smaller homes right now and they’re offering incentives And that can help give you more options that fit the bill.
During the pandemic, homebuyers wanted (and could afford) larger homes –and builders delivered They focused on homes that were bigger, so people had more space for things like working from home, having a home gym, bonus rooms for virtual school, and more
But with the affordability challenges buyers are facing today, builders are increasingly shifting their attention to bringing smaller single-family homes to the market. The graph below uses data from the Census to show how this trend has evolved over the last few years:
NewSingle-FamilyHomesareGettingSmaller
Source:Census AverageSquareFootage
So, why the shift to less square footage? It’s simple. Builders want to build what they know will sell. Basically, they focus on where the demand is strongest And once mortgage rates started climbing and consumers felt the challenges of affordability creeping in, it became clear there was (and is) a very real need for smaller homes. As the National Association of Home Builders (NAHB) explains:
Builders building smaller homes can give you more affordable options at a time when you really need it.
“After a brief increase during the post-covid building boom, home size is trending lower and will likely continue to do so as housing affordability remains constrained.”
A recent article in the Real Deal says this about how this helps buyers:
“Even a slightly smaller home can be thousands of dollars cheaper for both builders and buyers In response to affordability challenges, major homebuilders are shifting priorities away from the big ticket homes and towards the cheaper set.”
If you’re having a hard time finding something in your budget, it may help to look at smaller homes. And, if you consider new builds specifically, you may find a few other fringe benefits that can help on the affordability front – like price reductions or mortgage rate buy-downs As NAHB says:
More than one-third of builders cut home prices in 2023 NAHB expects builders to continue offering smaller homes and more affordable designs as housing affordability remains a barrier to homeownership ”
As Charlie Bilello, Chief Market Strategist, at Creative Planning, explains:
“Homebuilders are adapting to the lowest affordability on record by building smaller homes and offering more incentives/price cuts. The median square footage of a new single-family home in the US has moved down to its lowest level since 2010 ”
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We’re here to help you purchase the home of your dreams. We know that buying a home is one of the most important decisions you will make. Few things give you more pride than owning your own home, and you will probably make no greater single investment in your lifetime We want to help you make that dream come true. There are many different types of loan programs you can choose from, and the best loan program for your neighbor may be different than the one that is right for you. From getting preapproved to finding the perfect home, understanding the home-buying process can help give you peace of mind. So can partnering with a mortgage lender you can trust. Put our expertise to work for you. Whether you ’ re building or buying your home, FBC is here to help you along the way!
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Stainless Steel is No Longer the Only Finish in Town.
White appliances, while popular in the '80s and '90s, once had the stigma of being inexpensive and not very stylish. But today’s white appliances feature modern, sleek lines and bright white hues “Many are made of a stainless-steel base and coated in an automotive-grade, durable paint,” says T K Wismer, creative director of Café Appliances, whose line of white appliances come in a matte, low-gloss finish. “They’re super stylish with the added perk of being able to customize your hardware from silver to bronze to copper and black so you can make your white appliances uniquely your own. ”
“Today’s focus is on a pure, bright white that offers a crisp, modern aesthetic, in finishes that include matte, satin, and high gloss,” says Marie Cloud, interior designer and owner of Indigo Pruitt Design Studio. The veneer you choose for your white appliances depends on your design preference and kitchen style. “I love a bright, glossy, jewel-like finish, especially when paired with metallic hardware,” shares Paula Smith, the design engagement director at Fisher & Paykel, a high-end maker of white appliances.
WHAT TYPE OF APPLIANCE CAN BE PURCHASED IN WHITE?
Refrigerators, dishwashers, and ranges are all trending in white, but you don’t need to buy a major appliance to tap into the color trend. “You can start off small with a white countertop appliance, like a toaster, air fryer, blender, steam oven, microwave or coffee maker,” suggests Cloud
DO WHITE APPLIANCES COMPLEMENT EVERY DESIGN STYLE?
With a curated selection of fixtures and finishes, white appliances can work with most kitchen aesthetics. “Their neutral color means they adapt well to any situation,” says Cloud “They can feel right at home in a kitchen with a casual cottage vibe or one with a midcentury or modern design.”
WHAT TYPE OF HARDWARE LOOKS BEST ON WHITE APPLIANCES?
Bronze or copper hardware can add a sense of warmth to a white appliance, while stainless steel promotes a more industrial look. Matte or polished black gives off a modern edge “I love a white range with stainless-steel legs and vents and a mix of stainless and white handles,” notes Mattia Sala is a product manager at SMEG USA.
“Pairing white appliances with wood-stained cabinets can result in a warm and inviting space, ” says Cloud. “Lighter woods like maple or birch maintain a bright, airy feel, while darker woods such as walnut or mahogany offer a striking contrast.” Not only can white appliances pair with many design styles, but they also work well with a variety of wood tones “I love how white appliances ground traditional, darker wood cabinets and add lightness to softer-toned ones, " says Wismer.
Creating a seamless look when it comes to appliances and cabinetry is a growing trend in kitchen design “Both white appliances and white panels are part of this movement, resulting in a unified, clutter-free aesthetic, which is particularly popular in minimalist designs,” says Cloud
WHAT TYPES OF COUNTERTOP PAIRS WELL WITH WHITE APPLIANCES?
Stones such as marble, granite, or quartz in shades of white or black complement the sleekness of white appliances, while wood countertops create a warm contrast “If you want a really bold look, an exotic quartzite would steal the show,” says Cloud. Wismer also suggests white quartz or marble if you ’ re going for a cohesive look. For something more high contrast and bold, she loves a black honed countertop in combination with matte black hardware
Worried about fingerprints showing on your white fridge or dishwasher? White appliances are a breeze to maintain. “They’re actually easier to clean than their stainless-steel cousins, which are prone to streaks and fingerprints and require frequent polishing,” says cleaning expert Melissa Homer. “Coated in a durable paint, they’re easy to spray and wipe clean with a Magic Eraser.”
The pricing on white appliances depends on the brand, model, and features. “Right now, stainless steel tends to be the more affordable option due to economies of scale because it’s the most in-demand finish, factories are producing larger quantities, which helps keep the overall cost down,” says Sala.
'Preparation is key to a smooth transition,' says Dr. Kathryn Dench. 'Pets who are gradually acclimated to the changes in their environment adjust significantly faster, showing less anxiety-related behavior post-move.'
'Start by introducing your pet to their travel crate weeks before the move, making it a positive space with their favorite blankets and toys. If your pet isn't used to or dislikes car travel, taking them on short, gradual trips can help adapt to them ' Try to make these experiences feel as enjoyable or calming as possible, bringing their favorite blanket, toy, or a treat.
Animals like cats and dogs love predictability in their daily routine, so be sure to keep food, walk and night schedules similar while getting ready for the move.
'Prepare tags with the new address, and search for a vet in your new area if the old one is too far away,' recommends Nikolay Yanakiev 'If the dog is microchipped, change the details on it.'
Be sure all vaccinations are current too, as relocations can be stressful on their immune systems.
On a moving day, if you opt to keep pets in a quiet, empty room away from the chaos check on them regularly to prevent them from becoming anxious or distressed 'Leave some of their favorite toys and their bed with them to be more comfortable,' recommends Nikolay Yanakiev. 'In addition to preventing anxiety, doing this can prevent them from injuring themselves escaping.’
Another option is to leave your pet with a friend or family member or board them for the day.
When moving your pet, it's important to consider everything they might need in order to make the journey comfortable and relaxing for them. Determine how to tailor the journey to the pet's specific behaviors and needs. Think about the journey and its length to identify any issues that may occur. As you would on any long car journey with a dog, stop for bathroom breaks every hour or so to provide them with water, food, and playtime to reduce their anxiety.
'After the move, allow them to adjust to their new home gradually, starting with one room where they can feel secure with familiar toys and bedding before gradually exploring more,' advises Dr. Kathryn Dench. ‘When unloading furniture, start with any furniture that was moved from the room where your pet spent their time,' recommends Nikolay Yanakiev. 'Recreating a familiar setting may help your pet get used to the new environment.'
Once settled, get back your pet on a predictable schedule as soon as possible. This includes regular feeding times, walks, and playtime
Finally, it's time to sweep your new environment to ensure it is safe for your pets For dogs, Nikolay Yanakiev advises, 'Research local laws concerning breeds and vaccinations. Find local parks that allow dogs and find a place for your dog to run and play without a leash. If your new home has a garden, check for holes and routes for your dog to escape and check if the grass areas are sprayed against fleas and ticks.'
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