When it comes to modern day home building, more and more architects and home builders are designing homes with multiple stories. Square footage for homes have doubled since 1973. With lot sizes dramatically decreasing, and the demand for larger homes increasing, building vertically is the best answer to building a [new] home. New construction can cost up to 10% less per square foot when building vertically as opposed to building out. This saves on space, saves on land costs, and can easily accommodate an elevator. The trend in home elevators continues to expand every year. In Massachusetts alone, the number of home elevators have increased 29% since 2011 (Boston Globe).
According to the Census Bureau, Characteristics of New Homes Completed SOC data, 2 story homes have increased 33% and 3 story homes by 43% since 2009. The number of 4,000 square feet homes have increased 51% since 2011.
This trend in verticality is a trend to keep in mind when planning to build a new home. In the end, you can save yourself money, space, and have and even plan for an elevator if you build ‘up’ versus ‘out’.