As home prices rise, one trend developing in the real estate market is people looking for smaller houses.
There are a number of reasons for this phenomenon.
According to one Southern California real estate blog, Baby Boomers are looking to downsize as they reach or near retirement. In addition, first-time home buyers on a budget and multi-generational families looking for some alternatives are also seeking less square footage.
There are advantages and disadvantages to living with less space.
Most smaller homes are cheaper, have lower utility bills and require less cleaning and maintenance.
On the other hand, there's less room for personal belongings, less space for day-to-day living and no room for guests (maybe that's not a disadvantage).
In Lafayette, there's an 1,100-square-foot home at 1571 Hunsaker Canyon Road that's selling for $800,000. The two-story home has two bedrooms and one bathroom and sits on four acres in the Burton Valley area.
In Orinda, there's a 1,290-square-foot home at 1 Lavina Court that is selling for $769,000. The one-story house has three bedrooms and one bathroom and sits on a quarter-acre.
In Moraga, a 1,918-square-foot home at 720 Moraga Road is on the market for sale for $750,000. It has four bedrooms and three bathrooms and sits on half an acre.
You can read about other small homes for sale on Walnut Creek Patch and Pleasant Hill Patch.
Know of other small homes for sale in your neighborhood? Let us know in the comments.
This information was provided by Rachael Hand, Broker Associate, Coldwell Banker and Director for the Contra Costa Board of Realtors. You can reach her at 925-372-8080 or rachael.hand@cbnorcal.com
