What’s the Perfect Home Size? » Mortgage Masters Group

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The median size new home is now 2,687 square feet, an increase of nearly 1,000 square feet in the last four decades. Perhaps more interesting is the average household size – meaning, the number of people living in the home – has actually decreased from 3.01 persons per household 40 years ago to 2.54 today.

Just like there is no one-size-fits-all career, there is no one standard retirement age or income. It all depends on factors such as the desire of the person to keep working (or not), the post-career lifestyle they want to have, their health, if the have any kids at home, if they plan to stay in the same house or downsize, and so on.

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For each living room size I’ve taken into account a conversation area (a square conversation space) and an extra 3ft (0.9m) for circulation.. All the dimensions I talk about are for a rectangular shaped room. If the living room has an interesting shape there will be room for other activity areas – there’s lots of things you can use your living room for.

Generally your total debt including mortgage payments shouldn’t exceed 30 to 40 percent of your monthly income.A range of factors must be weighed before any home-buying decision can be made.

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