After several decades of popularity, McMansions have started to fall out of favor. Owning a large, multi-story home may have once been the pinnacle of the American dream, but smaller and simpler living seems to be the new trend.
Over the last five to 10 years, single-story homes have become much more popular both for new constructions and for existing homes on the market. Buyers of all ages and backgrounds across the United States are now opting for single-floor living.
Whether you’re in the market for a primary residence or an investment property, understanding the current real estate trends will help you make a wise purchase. Here are seven reasons why ranch homes are making a comeback:
1. Less Expensive
It goes without saying that smaller homes are less expensive than larger homes. With housing in short supply and the cost of living rising rapidly, first-time home buyers are looking for the smallest and most affordable properties they can find. Single-story houses are excellent starter homes for young couples or families, and they’re much more financially accessible than most two- or three-story homes.
Maintenance costs tend to be lower for smaller, single-floor homes as well. When you own less house, you face fewer repairs. Upgrading or renovating a single-story house is easier and less expensive than fully remodeling a multi-story home, too.
2. Accessible for an Aging Population
Ranch homes are popular with first-time buyers, but they’re also ideal for aging adults. After millennials, baby boomers are the largest generation in the United States. The youngest baby boomers are now in their early 60s, and the oldest are nearing their 80s.
With age comes a number of health and safety concerns. Many aging adults move from a two-story home to a single-floor house so they don’t have to navigate stairs, which are one of the biggest fall risks. Single-floor homes usually have open floor plans and wide hallways, too, which are easier to navigate for those using walkers, wheelchairs, or other mobility aids.
As the number of older adults skyrockets in the coming years, the demand for single-story homes will continue to rise. Many seniors will downsize to a ranch once their health or mobility declines. Some middle-aged and older adults proactively purchase a single-floor home to plan in advance for their later years.
3. Functional for New Families
For parents with young children, single-story homes offer a number of valuable benefits. It’s easier to keep an eye on your kids in a single-floor, open-concept home. The bedrooms in a single-story home are usually closer together, too, while they may be separated in a multi-story house. For safety reasons, many parents prefer having their bedrooms close to their children’s bedrooms.
Just like a single-story home reduces the risk of falls for older adults, it also reduces the risk of falls and injuries for young children. Evacuating the house in the event of a fire or other emergency is easier as well, which can put new parents’ minds at ease.
4. Flexible Designs
Single-story homes offer a great deal of flexibility compared to two-story houses. For those building their own homes, a single-floor design is a popular choice solely for how customizable it is. You can tailor the property exactly to your family’s preferences and needs.
You can add some luxurious features to a single-floor home, too. For example, without a second floor, your home could boast vaulted ceilings, skylights, or floor-to-ceiling windows.
5. Energy Efficient
A home’s energy efficiency depends on a number of factors, including its size, layout, and the age and condition of the HVAC system. If you compare a one-story and two-story house with the same square footage, the two-story home will probably be more energy-efficient. However, smaller ranch-style homes tend to be more efficient than larger houses with multiple stories.
Heat rises, so multi-story homes can experience large temperature variations. Single-story homes with open floor plans have good air circulation, so they usually require less energy to heat or cool. Ranch homes that receive lots of natural light through skylights or large windows can also have better temperature control.
Reducing energy usage is a priority for homeowners on a budget and for those conscious of their environmental footprint. When you live in an efficient home, you pay less in utilities and extend the lifespan of your HVAC system, which further reduces your maintenance costs.
6. Simple Living
In addition to all of the economic and practical reasons for purchasing a single-story home, ranch houses are on the rise because of a cultural shift toward simpler living. While living in a massive house and accumulating lots of belongings was once an ideal standard of living, younger Americans are showing a growing interest in minimalism.
As a whole, millennials value experiences over items, and many are rejecting clutter and embracing living in smaller, simpler conditions. They don’t need a lot of space for their belongings, and they don’t want to spend all their time cleaning and maintaining a large house. The current popularity of single-floor homes is a reflection of changing values and priorities in our society.
7. Resale Value
For all of the above reasons, buyers recognize that single-story homes have a great resale value and will continue to rise in demand in the coming years. Even if a ranch-style home doesn’t perfectly suit your needs now, purchasing one could pay off down the road.
Single-floor homes are also popular for real estate investors. They make good short-term and long-term rental properties because they appeal to both younger and older adults. If you buy a ranch as your first home, you could easily rent it out instead of selling it when you purchase your next residence.
Is Ranch Living Right for You?
Single-floor homes are affordable, accessible, and simple, making them the ideal choice for many home buyers. If you’re a first-time buyer, a ranch-style house could be the perfect budget-friendly choice. If you have young children, you may value the open-concept design and the safety benefits. If you’re reaching retirement age, a single-floor home can allow you to age in place independently.
There are a few downsides to consider before purchasing a ranch, though. Some homeowners feel like they have less privacy in a single-story home because passersby can easily see into first-floor bedroom windows. The open-concept layout, while advantageous in many ways, can also make it difficult for family members to have peace and quiet. Additionally, ranch homes tend to have smaller yards.
Ranch homes have undoubtedly come back in style. In the next few years, expect to see a growing number of single-story new constructions as well as fierce competition for older ranch houses in the real estate market. If you’re looking to invest in a home that is sure to appreciate in value, a ranch may be your best choice.
