Why the American Dream of owning a big home is way overrated, in one chart

Via Marketwatch

From 1978 through 2015, the median size of the single-family home increased every year until it peaked at 2,467 square feet, according to the U.S. Census Bureau. Then, in 2016, that number began to shrink, albeit ever so slightly.

So, are we finally coming to our senses about McMansions?

Of course, owning a big house has long been a key component of the American Dream — you know you’ve arrived when you have columns, an indoor pool and a theater room — but, in reality, it’s all usually a huge waste of space, according to a study cited by Steve Adcock on the Get Rich Slowly blog.

A research team affiliated with UCLA studied American families and where they spend most of their time while inside their homes. The results were fascinating, but really not all that surprising. Here’s one representative example:

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As you can see, most square footage is wasted as people tend to gather around the kitchen and the television, while avoiding the dining room and porch.

“The findings were not pretty. In fact, they helped prove how little we use our big homes for things other than clutter,” Adcock said. “Most families don’t use large areas of their homes — which means they’ve essentially wasted money on space they don’t need.”

And Adcock knows a thing or two about utilizing space.

Like the family in the illustration above, he used to spend all of his time hanging out in the kitchen and family room in his 1,600-square-foot home. Now, after managing to retire from his full-time gig at the age of 35, he lives his version of the American Dream in an Airstream trailer with his wife.

Check out a tour of his “home”:

“The full-time RV life isn’t for everyone, and it’s not my intent to convince you otherwise,” Adcock explained. “Instead, use my story as a testament to the fact that large homes are very much a choice. Few of us need the space we buy.”

His takeaway: Forget the standard realtor advice that you should “buy as big of a house as you can afford.”

Instead, buy as much house as you need. “More does not automatically equal better,” he said. “More simply means more.”

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18 Comments
whiskey tango foxtrot
whiskey tango foxtrot
May 21, 2018 3:35 pm

The word MORTGAGE is derived from 2 French words.
MORT: meaning death.
GAGE: meaning contract.

It’s good to be the king. Failing that, it’s good to be the bankster.

Anonymous
Anonymous
May 21, 2018 3:38 pm

How much will it cost to pay to park somewhere for 30 years?

Wip
Wip
  Anonymous
May 21, 2018 3:50 pm

Just park in the Griswold’s driveway.

Anonymous
Anonymous
  Anonymous
May 22, 2018 1:39 pm

You can park them pretty much anywhere you want in Seattle.

Crawfisher
Crawfisher
  Anonymous
May 30, 2018 8:04 am

Purchase 2 to 5 acres, run power (or not), drill a well, install a septic, install the hook up station – you are good to go. Do your own estimate.

anarchyst
anarchyst
May 21, 2018 4:40 pm

a small house on acreage is preferable to a “mcMansion” on a postage stamp size lot.

Anonymous
Anonymous
  anarchyst
May 21, 2018 4:43 pm

Yep, I couldn’t care less about the size of the house either. Give me a trailer on 100 arable, semi forested acres any day.

Hans
Hans
  anarchyst
May 22, 2018 8:42 am

We just went from a larger house on a small lot to a smaller house on a large lot and couldn’t be happier. Cut the damn property taxes more than half too.

AC
AC
May 21, 2018 4:41 pm

Dear peasants, you are going to have to make due with less, because the glorious leaders fucked everything up beyond redemption – and for them to maintain their lifestyles at a level they demand, you are all going to have to suffer tremendously. Isn’t it wonderful?

Tree. Rope. Glorious Overlords. Some assembly required.

Mad as Hell
Mad as Hell
May 21, 2018 4:59 pm

“His takeaway: Forget the standard realtor advice that you should “buy as big of a house as you can afford.””
Naturally the average RealtWhore advises you to get as much house (or more) as you can afford. Then the bankster, the title co. and the insurance mafia can rape you, monthly for the next 30 years.
Just like the “guidance” counselors at the local high school advise naive kids to mortgage their lives just as they become an adult to Sallie Mae so they can get a $27,000 /yr job at Starbucks to pay back $90,000 in student loans for a piece of paper.
Murica is one big scam now, from top to bottom. The best advice to give any kid just turning 18 is to NOT trust ANYONE that is a so called “professional” , or government drone nowadays, and learn to use the library, and alternative media to learn your own way. Then take on NO debt, for ANY reason whatsoever if you don’t understand the fine print you are given by the crook at the bank, insurance company or “financial advisory” firm.

Wip
Wip
  Mad as Hell
May 21, 2018 7:41 pm

Honestly, I do not think that is good advice either. If I was graduating out of HS I would choose one of the following paths.

1) Military
2) College, but ONLY if I was a great student and knew I would succeed in S.T.E.M. fields or as a lawyer.
3) Pick a trade where I could learn on the job and learn even more on my own time about that same trade. I would save my ass off, learn to be a great communicator and start my own business as soon as fucking possible.

Arc
Arc
  Wip
May 21, 2018 11:07 pm

Tbh, four year military, then a trade school specializing in your MOS / A-school is a sure fire way to set yourself up for success. The .mil pays fairly well when you realize your entire paycheck is disposable.

Mad as hell
Mad as hell
  Wip
May 22, 2018 11:23 am

Agreed. Although, I am pretty sure you just proved my advice to be correct. I highly doubt that you came to that conclusion with the help of the “professional” at the local high school or at the bank / Insurance company. My point above was not a “path” but more of advice to give a young person to think for themselves and STOP listening to the party line given nowadays by the so called “experts”. They ALL have something to sell, and any advice they give seems to be more about lining their pockets, than actually assisting that young person to become a good sustainable productive and independent entity.
A person that at a young age learns how to problem solve with his own mind, has a leg up in just about any situation – business, personal relationships, etc. We have trained this new generation (and to a large extent the last one) to not problem solve, but to look towards “experts” with papers up on the wall as a quick solution to every issue. Granted, there are (used to be anyway) very smart people that specialize in very complicated things, and are very good at them. But unfortunately, those people are being weeded out (mostly by choice of the smart person getting fed up and leaving the stupid) in the name of “diversity” and other social reasons. Now, someone with a “credential” probably has little idea how the previous person in that seat accomplished anything, and is more interested in when they can check their social media post, or when the next long weekend is so they can go to the beach with their friends – at 40. Young people WILL NOT find answers with these people, they will only find answers when they know how to dig through the mounds of BS on top of everything nowadays, to unearth the truth. The modern gold rush is about digging for knowledge and truth, as they are now as rare as any Gold vein in rock.

steve
steve
May 21, 2018 6:26 pm

McMansions will be a dime a dozen when the taxes, utilities, insurance, maintenance really take off. With the boomers downsizing, who’s gonna buy them? Get out now while there’s still some bigger fool wanting a piece of “the American dream”.

Stucky
Stucky
May 21, 2018 7:16 pm

“A research team affiliated with UCLA studied American families and where they spend most of their time while inside their homes. The results were fascinating, but really not all that surprising. Here’s one representative example:” ———- article

In the graphic there are ONLY 7 dots in front of the toilet. Seven? I see a problem here; Americans are not shitting enough! They are literally full of shit.

But wait, it gets worse. Seven units in front of the shitter …. but ONLY ONE DOT in front of the sink?? Shit and run, wtf? Shouldn’t one spend more time washing than wiping?

This country is literally going to shit.

Wip
Wip
  Stucky
May 21, 2018 7:33 pm

This is a classic Stucky comment. Stick around, Stucky, we love ya.

Wip
Wip
May 21, 2018 7:36 pm

I am a real estate photographer and I cannot tell you how many homes I photograph that have all the bells and whistles. Entire subdivisions of McMansions full of bars, billiard rooms, theaters, saunas, hot tubs, full outdoor kitchens, pools, putting greens. The list goes on and on. Guess what? Nobody uses this shit. It is a waste.

MrLiberty
MrLiberty
  Wip
May 21, 2018 9:38 pm

The one I love is the so-called “garden tub.” Generally a huge tub in the master bath with jacuzzi-type jets. First, it takes your entire water heater to fill, and as soon as you turn on the jets, it cools down as most if not all of these are built on outside walls with the usual piss-poor home insulation. So now its cold and you have no more hot water to warm it back up.

Some neighbors of ours who had WAY TOO MANY CATS, actually turned their garden tub into a giant litter box. Yes, that says way more about them then just the pointlessness of a garden tub, but frankly we didn’t know anyone who used their giant tub – opting for the bathroom’s shower instead.