The traditional norms are rapidly being replaced with contemporary ones in the real estate sector. People these days, especially the millennial, want to live in a place that is modular, efficient, easy to maintain and won’t break their bank with excess maintenance cost. With that being said, to do so, they are shifting towards compact homes and turning away from large properties.
On top of that, with an ever-increasing urge to lead a life of higher standards, people are pouring in more work hours now more than ever. It is clear that after a hard day at work, the contemporary man or woman won’t have the patience to tend to the needs of a large property. On top of that, there is a high cost of living, which when coupled with maintaining a property of large dimensions; one would need to shell out more cash. Ultimately, owning a huge property is a big no-no if you have high ambitions.
With that information in mind, there are three distinct factors that have made compact designer homes trending beyond one’s imagination these days. They are an environmental factor, social factor and economical factor. Let us understand each one of these in brief in the following sections:
Environmental factor
The primary factor that made small space living a trend is the ability it provides to conscious people who want to limit their footprint on the environment. A compact home takes less space, uses fewer resources to build and has minimal impact on the surroundings. People these days, especially the millennial generation are adopting this trend to make sure they are doing their part when it comes to preserving the environment.
Social factor
The social structure in contemporary times has changed by many folds. Back in the day, people were very much fond of living with their entire generations in joint families. On top of that, each family has at least three to four (minimum) children. It meant that they didn’t have any other option left instead of investing in a large property.
Fast forward to the current age, people are more about getting married late, strict family planning leading to nuclear families. It meant that the contemporary man or woman doesn’t need to invest in a large property. On top of that, by the age of 23, most young adults start living on their own as they move out of their parent’s homes. Since every person in their early professional life is short on liquid cash, it is another factor that is making compact homes a hit in the market.
Economical factor
As mentioned earlier, maintaining and tending to the upkeep needs of a large property is tough, to say the least. Whereas, when you own a compact home, instead of a traditional home, that is located at your desired place, close to amenities and necessary infrastructure – odds are all in your favour. Be it a property that is located at the centre of a sprawling city or on the outskirts of the same close to the wilderness, owning a compact home is best when you want to save some cash.
What one can take away from the three sections mentioned above is that when one chooses to downsize – especially when it comes to properties, they are making sure that their utility bills are kept within manageable limits. With a small space to look and tend after, you will be left with more time to look after your personal needs and spend joyous moments with your loved ones.
