Go Small and Go Home...

It’s not new that home prices, especially in Bend and surrounding areas, are becoming more and more difficult for the “average” income earner to afford. Nurses, teachers and many other working professionals are finding it harder to become homeowners. In fact, the new average age for first time homeownership in the U.S. is now 38. Many factors contribute to this — inflation rising faster than wages, high interest rates, and even lower ambition to move out of parents’ homes.

Previous generations buying homes often stayed in the home for the rest of, or most of, their lives. Houses themselves also tended to be much smaller than today – the average square footage of a new home in 1950 was 983 square feet. According to Census data, that number jumped to 2,303 square feet in 2023. I often hear arguments that young people can’t buy homes due to pricing and wages, and while I definitely agree…I also want to open the case that perhaps we are overconsuming in the housing market, much like we are in fast fashion, food and other industries.

As a Realtor, when I am gathering information from a first-time homebuyer, the wants are usually very similar: 1500-plus square feet, newer finishes, 3 bed, 2 bath, a garage, and enough yard for kids and/or chickens. I’m not saying this is bad or wrong…but what if we stopped yearning for MORE and started embracing LESS?

There are many ways where we could combat this consumerism mentality, and not just in terms of square footage – though also an easy consideration. For instance, first homes don’t have to be “single family.” Apartments and townhouses can often be great ways to save $100k or more (compared to single family). Or what if we combined forces; go in on a duplex with best friends living one on each side?!

Multigenerational households are another great option and are becoming more common, combining generational wealth as well as burden. In 1980, 12% of households were considered multigenerational in the U.S., while today that number is closer to 21%. Not only does this allow elderly relatives to age more economically (assisted living options can run $12k+/month), it can provide help to younger generations in the form of down payment assistance, built-in child care (average of $400-$1,500/month per infant), shared monthly utilities and more. And who says multigenerational has to mean you plus your parents? Just like we choose the community that we surround ourselves with, we can also choose the family that we want to co-own a home with!

I feel very strongly that it is time to stop encouraging/shaming younger and first-time homebuyers to think of “home” only as the cookie-cutter, 1,500 square feet, single family home with a backyard. Continued work on diverse housing options in Bend, such as multi-family homes and community land trusts, is a great first step toward having housing that fits everyone’s needs. Let’s embrace less consumerism in the home marketplace and more community, sustainability, and life.

This article appears in Source Weekly April 24, 2025.