As home prices rise, one trend developing in the real estate market is people looking for smaller houses.
There are a number of reasons for this phenomenon.
According to one Southern California real estate blog, Baby Boomers are looking to downsize as they reach or near retirement. In addition, first-time home buyers on a budget and multi-generational families looking for some alternatives are also seeking less square footage.
There are advantages and disadvantages to living with less space.
Most smaller homes are cheaper, have lower utility bills and require less cleaning and maintenance.
On the other hand, there's less room for personal belongings, less space for day-to-day living and no room for guests (maybe that's not a disadvantage).
In Newark, there's an 880-square-foot home at 36910 Darvon Street that's for sale for $389,000.
The one-story home has two bedrooms and one bathroom. It was built in 1958 and sits on less than a quarter acre. It last sold in November 1996 for $21,500.
You can read about other small homes for sale on Fremont Patch and Union City Patch.
Know of other small homes for sale in your neighborhood? Let us know in the comments.
This information was provided by Rachael Hand, Broker Associate, Coldwell Banker and Director for the Contra Costa Board of Realtors. You can reach her at 925-372-8080 or rachael.hand@cbnorcal.com
