Like anything else, residential architecture is affected by the popular trends of the day. Unlike most other things, homes last a very long time. Houses built to fit the lifestyle of people living in the 1940s and ’50s are still being bought and sold in 2019. In most cases, an older home’s quirks are considered charming or even sought after by home buyers.
But what about homes whose time period is unpopular? Well, according to one recent article by HousingWire, this can be a problem. For example, in the early 2000s, mini-mansions were the fad. baby boomers with easy access to credit built huge houses intending to live out their retirement in dream homes equipped with all of the day’s most popular features. But now, those homes are beginning to hit the market and are having trouble selling. Today’s home buyers prefer smaller, more modern homes, rather than the lavish, ornate styles that were popular earlier this century.
Another problem is the price. Since they are big and located in desirable areas, these homes are expensive. In fact, they can be too expensive for most home buyers. Unfortunately, it looks like the problem will grow, as baby boomer homeowners grow older and look to sell their current homes in favor of downsizing.