The Newest Cottage Industry

Buyers Snap Up Small Homes; 1,000 Square Feet for $599,950

by Sara Lin Wall Street Journal | July 18, 2008

…In Indianapolis, developer Casey Land learned of the small home developments in an industry magazine and hired Mr. Chapin for a 21-cottage project. The houses will range in size from 875 to 1,600 square feet. At first, Mr. Land says, his bankers were skeptical, especially those living in 3,000-square-foot homes. “We’re all downsizing,” he says. “It’s tough to do, but we’re all getting there.” He predicts the social life will be a stronger draw than square footage. “These days, we drive to the house, open the garage door, go in,” he says. “But it’s important to get to know your neighbors. I think people miss that.”

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