The New McMansion Trend: The Larger, the BetterOctober 10, 2015
The Boston luxury real estate trend continues to keep shifting. The McMansions are back in full swing and have become the new norm. Whether it’s Boston luxury homes in the suburbs or in the city, residential properties are doubling in size.
There was a time that ideal size in any new Boston luxury real estate development was around 2,000-2,500 square feet. Two bedroom or 2 bedroom + study was the sweet spot for the market for a while, and anything larger would have been risky to sell. This is not the case anymore. The 3 to 4 bedrooms are the new trend for Boston luxury homes in high end residential buildings.
This high demand is partially due to the fact that more families with children are becoming more attracted to living in luxury towers with amenities and services. I’m also seeing empty nesters moving into the city and looking to make a lateral move (versus downsizing), since they are considering room for visiting children and grand children.
As for the suburban towns, smaller houses are being leveled and replaced by bigger houses and in some cases McMansions. A few years ago, you couldn’t give large Boston luxury homes away. With the slow economy, slow job market and high electric and gas prices, no one was willing to live in these big houses. With the economy on the upswing, demand has changed and bigger is most definitely more desired.
Builders are building huge buildings with room after room and ballroom sized entertainment spaces. New construction listings have giant kitchen/family rooms with all new technology that money can buy, in addition to vast breathtaking grounds, pool, etc. Then again, there’s something for everyone. There are those whose families are getting smaller and are looking to down size and looking for smaller units.