Consumer Report says buyers don’t want exurban McMansions; they want other features

Consumer Reports lays out five features homebuyers want – and these five features are not usually associated with McMansions.

Homebuyers have become more practical since the housing market crisis—they don’t want cavernous entryways but they do want plenty of storage space. They want to be close to their jobs and integrated into their communities. And they want to keep their energy costs low. In today’s market, a McMansion in the exburbs may be a tough sell. Price is still primary, but if you’re thinking of buying or selling a home, you should learn how buyers’ preferences have changed since the last time you were in the market. Here are the five features today’s homebuyers want most.

Proximity to work…

Energy efficiency…

Lots and lots of storage…

Quality of space, not quantity…

Connection outdoors, and to the community beyond…

Perhaps this could be summed up as a McMansion double-whammy: not only did you buy a house that a lot of Americans criticize, now fewer people want to buy it from you which would help you leave such a house.

There are a couple options available to McMansion owners and builders:

1. Hunker down and find the segment of the real estate market that still wants McMansion. And there are still people who do.

2. Retrofit their existing McMansions. There might be some relatively easier fixes in the areas of energy efficiency or developing storage space. The location aspects or connecting to the surrounding community might be harder.

3. Take a decent loss on the McMansion and move on.

We’ll see what happens to aging McMansions. I don’t think this is going to happen in large numbers anytime soon but if they could be built quickly, could they also be torn down and replaced quickly?

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