Many find advantages in buying studio apartments, and developers have taken notice.
Even as American homes are getting larger and larger, some find advantages in living small. According to a story by Alina Dizik in the Wall Street Journal there is a persistent market for efficiency apartments, "Developers are responding to demand by adding more studios to their buildings."
For many who prioritize location over size, smaller is better. "Studio apartments allow them to live in desirable neighborhoods and splurge on small units with interiors that resemble sleek hotel suites," Dizik reports. For some, the design constraints of a small size is made up for by the ability to spend more per square foot when designing a home on a smaller scale. Buying small also means saving on assessments, because these fees are generally apportioned according to the size of the unit.
In increasingly expensive, unequal cities studio apartments can provide a way to get access to a neighborhood that many could not otherwise afford.
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