Cottages as Condo Alternatives and Downsizing as a Trend
It’s a trend I’ve witnessed recently with my clients, that’s now been reported nationally in last week’s Weekend Journal by the Wall Street Journal. Smaller is better for some— and home ownership rather than condominium or townhome ownership is better for others too.
I’ve had clients lately who’ve started their search with a condo or townhome in mind who end up looking at homes instead. In today’s “buyer’s market” in our region, single family residences have become an affordable alternative with a greater rate of return on investment. I’m seeing homes in neighborhoods like Ballard, Maple Leaf and Loyal Heights in the under $400-300,000 range that make excellent condo alternatives.
The July 18 Weekend Journal article by Sara Lin was entitled: “The Newest Cottage Industry: Buyers Snap Up Small Homes; 1,000 Square Feet for $599,950”. It highlighted some buyers from our region who’ve gone smaller. Hear Sara’s recap of the story online: http://video.marketwatch.com/m/20435916/choosing_cottages_over_mcmansions.htm
I’ve been an admirer of small space living for years, a favorite book being Creating the Not So Big House by Sarah Susanka. Some excellent examples of small cottage neighborhoods that have recently been developed in our area include Ross Chapin-designed Greenwood Avenue Cottages in Shoreline and The Cottage Company’s Third Street Cotatges near Langley on Whidbey Island: http://www.cottagecompany.com/cctsc.html
I’ve had clients lately who’ve started their search with a condo or townhome in mind who end up looking at homes instead. In today’s “buyer’s market” in our region, single family residences have become an affordable alternative with a greater rate of return on investment. I’m seeing homes in neighborhoods like Ballard, Maple Leaf and Loyal Heights in the under $400-300,000 range that make excellent condo alternatives.
The July 18 Weekend Journal article by Sara Lin was entitled: “The Newest Cottage Industry: Buyers Snap Up Small Homes; 1,000 Square Feet for $599,950”. It highlighted some buyers from our region who’ve gone smaller. Hear Sara’s recap of the story online: http://video.marketwatch.com/m/20435916/choosing_cottages_over_mcmansions.htm
I’ve been an admirer of small space living for years, a favorite book being Creating the Not So Big House by Sarah Susanka. Some excellent examples of small cottage neighborhoods that have recently been developed in our area include Ross Chapin-designed Greenwood Avenue Cottages in Shoreline and The Cottage Company’s Third Street Cotatges near Langley on Whidbey Island: http://www.cottagecompany.com/cctsc.html
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