Are McMansions Still In Vogue?

McMansions were the result of people overspending (in most cases) and that need to “look” the part. Of course we all want nice homes, but there’s something to be said for a space that isn’t breaking the bank and has all of the essentials you need to survive in modern life.

What is a McMansion?

It’s a home usually larger than 2,250 square feet and in an upper middle class neighborhood. There was a huge surge of McMansions, starting in the mid-90s and before you knew it, everyone was living in a house with four bedrooms or more. Most of us did not grow up in houses this large, but that’s where the aspirational value of the McMansion comes into play.

While some of these houses were expensive, others just mimicked the look of a McMansion, with less than stellar flooring or crown molding, which is a common mark of contractors cutting corners. These details didn’t matter to those who were only after the look of being rich. Many people were so happy to be approved with a low rate, that they jumped at the chance at a new house without taking into account the longevity of the design of the interior or exteriors of the home.

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Those living in McMansions usually have a college education and are professionals. Both parents often work, but in the high income neighborhoods, many moms stay home and raise the kids. Nearly everyone with a McMansion has kids and tend to be part of a group of people who want to give their kids everything. We all want our kids to have the best, but do they really need to have it all? 

Is a McMansion a good thing?

If you haven’t already gathered from our article, no, McMansions aren’t a good thing. It is never a compliment. Think of the prefix. It comes from McDonald’s, which people usually associate as cheap, subpar and fast. The McMansions craze is just the same, only due to the housing craze, many people ended up owing more than their house was worth in the first place. Many real estate buyers in the market right now are looking for new homes or land they can build a dream home on.

While this was once something only the very wealthy could do, the economy has made it possible for many people as long as they have the liquid cash to put up. McMansions are being foreclosed on left and right. Aesthetically, we’re also moving away from the idea that bigger is better. People in the know know that it’s more about quality with a new than than quantity. There’s also a trend of restoring old homes that’s taking over the affluent sector. If people are buying a house that’s already standing, they want a house with a rich history. In major cities, these are easy to find, but they sometimes cost as much as a brand new house. The affluent aren’t concerned with this and love the idea of original flooring and doors that are decades old when looking at new homes.

Philadelphia real estate broker Mike McCann says, “Buyers are looking for homes that are closer to where they work and play.  They are willing to purchase a smaller home in order to meet that need.”   Only time will tell if the trend will continue, but as the costs to commute from the suburbs remains high, experts expect a continued demand for urban real estate.

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Properties found on this Web site may be listed with a brokerage other than the owner of this site and are displayed here via the Internet Data Exchange (IDX) system of this broker’s MLS. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing nor displaying broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2012 Western New York Real Estate Information Services (WNYREIS), LLC. All rights reserved.

All Statistics are gathered from the Buffalo Niagara Association of REALTORS®.

Properties found on this Web site may be listed with a brokerage other than the owner of this site and are displayed here via the Internet Data Exchange (IDX) system of this broker’s MLS. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing nor displaying broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2012 Western New York Real Estate Information Services (WNYREIS), LLC. All rights reserved.