Earlier this week on Channel 9’s new programme Unreal Estate, we saw a $20million French Chateau (1400sq metres) built outside of Melbourne for a family of 5. Inspired by the architect and builder from his visit to France, he always dreamt of building such a beautiful home for his family.
With each young child having a bedroom that included an ensuite and a sitting room at 80sq metres, the bedrooms are the size of many small modern day apartments. The irony of this man’s dream is that although grandeur in size, when the family moved in the whole family ended up sleeping in the large master suite to be close to each other.
It became apparent to this family that although they had built the dream, the family was missing the warmth and closeness a smaller home brought them. So they moved into an apartment in Geelong. The Chateau is now their holiday house but not where they call home.
So, in the era of land being turned into apartment complexes nearly everywhere you turn, and with sub-division of standard blocks up to half their original size – the question begs… Is bigger really better?
It is not uncommon for subdivision blocks to leave houses now built on less than 400sq metres. The size of the rooms in new apartments also seems to be shrinking to maximise profit for developers. But do we really need massive bedrooms and living rooms or large backyards?
Minimalist living has become popular, with a more disposable society people find it easier to throw away or sell items no longer used rather than store them in the outback shed. And why have a large backyard when all that really means in maintenance? With such busy lives and longer working hours, many families are no longer looking to spend the weekends maintaining gardens and big houses but preferring to spend quality family time together.
Local governments and new estate developments also support this style of living with installing state of the art parks, playgrounds, and social areas. So now that we have ascertained that bigger isn’t necessarily better, is real estate driving this social change or simply responding to it?
Either way, as a real estate agent understanding not only your buyer but also your seller’s lifestyle of the local area, can help give you an edge into how to pitch the dream for your potential buyers. Happy selling!