Home Lot Size And What It Means To The New Home Buyer

Tuesday, September 13, 2016 - by Chris Mabee, president of Home Builders Association of Greater Chattanooga

The gridiron of American football is a battleground where strength, speed and endurance are measured. It also provides a nifty frame of reference for a variety of other measurements, including the size of land on which today’s new homes are built. Interestingly, these lots are getting smaller and smaller.

According to the U.S. Census Bureau, the median lot size for new single-family detached homes in 2015 was less than one-fifth of an acre — the smallest on record. Using a football field as our measuring stick, just 5.6 of those lots would fit between the goal lines.

But not all regions of the country are equal when it comes to the size of lots. New England typically has much larger lots than other areas due to its population density regulations. But in other regions, median lots range from .15 acres to .30 acres. The median lot size here in the East South Central Region, which includes Tennessee, is 0.30 acres.

Focused on Features

Though lots are reportedly getting smaller, one could argue that it’s not their size that matters most, but rather, it’s the features within those structures.

So what are today’s homes most sought after features? That usually depends on the buyer. A recent survey from National Association of Home Builders compared the preferences of different age groups and found that older generations tend to look for single-story, smaller homes (under 1,900 square feet), while the younger generations lean more strongly toward two-story, larger homes (at least 2,300 square feet).

Regardless of age, buyers consider many of the same amenities to be either desirable or essential. The list of the most popular amenities includes Energy Star-rated windows and appliances, a full bathroom on the main level, and exterior lighting. Topping the list as the single most-wanted feature in a home: a designated laundry room.

Desirable Communities

When it comes to the features of the surrounding neighborhood, most of the home buyers reported the same amenities at or near the top of their most-wanted lists: A community that’s typically suburban, with close proximity to a park area, and has access to walking/jogging trails. Most also want to be in a community near retail locations.

For more information on building trends and the availability of new residential construction in Chattanooga and the surrounding area, contact the Home Builders Association of Greater Chattanooga at 423-624-9992 or visit www.hbagc.net.    



Developers Sought For Former Coats American Property In Walker County

The Walker County Development Authority (WCDA) moved forward with plans this week to put the former Coats American property in Rossville on the market. The WCDA issued a Request for Proposals (RFP) from area business leaders and others to purchase the eight acre site. In addition to submitting a monetary offer, potential buyers should describe their plans for the property, ... (click for more)

Nathan Walldorf Of Herman Walldorf & Co., Inc. Earns The Seller’s Representative Specialist Designation

Nathan Walldorf of Herman Walldorf & Co., Inc. earned the Seller’s Representative Specialist (SRS) designation on Saturday, after completing the 12-hour SRS course work.  The SRS designation, recognized by the National Association of Realtors, is the premier credential in seller representation. It is designed to elevate professional standards and enhance personal performance. ... (click for more)

Ivy Johnson, 23, And Cordarrius Johnson, 26, Shot Early Sunday Morning On Lillian Lane

Ivy Johnson, 23, And Cordarrius Johnson, 26, were shot early Sunday morning.   Chattanooga Police were notified at 4:39 a.m. of two people arriving at a local hospital with gunshot wounds. Upon arrival, police spoke with the two victims who were suffering from non-life threatening gunshot wounds. The victims arrived at the hospital via personal vehicle.   ... (click for more)

2 Top Officials Leave Administration Of Sheriff Eric Watson

Bradley County Sheriff Eric Watson on Sunday announced the resignations of Chief Deputy Brian Smith and Director of Administrations Arnold Botts. He said they "served with distinction for the past four years." The Sheriff's Office said, "Smith notified Sheriff Watson that he is exploring business opportunities in the private sector, while Botts mentioned the timing was right ... (click for more)

DACA Or Amnesty To Become The Majority?

As we have the political drama that we see in D.C. let’s be honest about what DACA is all about. We understand as the liberal policies of abortion, dependency on the government and an anti-American globalist / progressive agenda that many have come to realize these policies no longer represent their core beliefs and have left a certain party. Without an influx of new dependency ... (click for more)

Roy Exum: Rebranding & ‘Culture’

My grandfather, who ran several very successful businesses, was a very astute fellow. I can’t tell you how many times he said, “The worst thing any salesman who calls on a business can say is, ‘I am here to save you some money.’ That’s not true -- In every instance they are in front of you hoping to make some money for themselves, else they would have never come by.” Another ... (click for more)