Times have changed, big time. People used to look for a small home with the potential to expand and update it if their incomes later allow it. People focused on building up some equity and not spending their money on rent.
They sacrificed going to dinner and vacation to scrape a down payment, and bought essential housewares at discount stores to make a mortgage payment. They paid almost everything in cash and shuddered at the thought of paying credit card interest.
While much of the thought process resonates with many people these days, the world has changed dramatically and the middle class is often priced out of home ownership in areas like Los Angeles and other expensive cities. People lucky enough to be able to afford a home are already renting to fulfill their lifestyles and fantasies. People don’t want to postpone their immediate desires so that they can live in a beautiful, upscale home with all the advantages of efficiency.
The bottom line is that people long for a brand new home with high ceilings, a huge kitchen with a center island that leads to the family room, and folding doors that lead to a private, landscaped yard. People want wooden floors, lots of natural light, an office, a guest room, a wonderful master suite and three family rooms on the same floor. Smart home technology, security, and a media room are high on the wish list for those who can afford a home in higher areas. Lighting, surfaces, furnishings, furniture and hardwood give the buyer special attention to detail. Landscaping, heated decks, pools, pool houses, water features, spas, and plunge pools are popular and tempting incentives.