Americans may have come to the end of a 50-year obsession with everything big as the “Great Recession” appears to have taken the edge off the appeal of owning a multi-roomed McMansion. Despite many large homes now being available at rock bottom prices, opulence has lost its sparkle and the average size of new homes is dropping.

Back in the 1950s, the average home size in the US was 983 square feet. At the peak of the building boom in 2004, the average home size was 2,340 square feet. The harsh reality of owning a larger home has become apparent in recent years because of the time and cost involved in the upkeep. It takes time to keep a large home clean and tidy and the cost of heating and cooling a large home can considerably increase your cost of living. Property taxes are higher for a large home because they are based on square footage and insurance is higher because of increased re-build costs.

Smaller homes are more ecologically sound and equate to a simpler, cheaper life. Utility bills and upkeep costs are considerably lower which means more money to spend on more luxurious fixtures and fittings within the property – or on you and your more liberated lifestyle! Also, many new smaller homes are built with ingenious storage ideas to keep clutter at bay.

As energy costs rise, there is a greater demand for more energy-efficient homes and smaller homes fit this market perfectly. Land is still an affordable commodity in the US so a smaller home doesn’t mean you have to sacrifice the size of your plot. Properties on large plots can be found in abundance in suburban neighbourhoods. If gardening isn’t your thing, an apartment with on-site maintenance and community facilities may be the perfect choice for you.

For details of property for sale in America, visit the USA listings on Rightmove Overseas. One way to save money when buying in the USA is to use a currency specialist when transferring your pounds into dollars to complete the purchase of your property. For more information on this, contact Smart Currency Exchange.

To understand the full step-by-step process to buying a property in America, collect The Overseas Guides Company’s ‘USA Property Buying Guide’