In 2022, affordability is the lead story followed by space.” Homebuyers, particularly first-timers, still want large kitchens, designated offices, and outdoor spaces they can enjoy in 2022, according to a recent survey by homebuilding consulting firm,  Zonda. However, many will have to align their expectations with finances. That can mean forgoing that extra square footage to become homeowners.

At the start of the COVID-19 pandemic, the hottest home amenity seemed to be extra square footage for an office, a home gym, and a place where the kids could attend virtual classes if their schools went remote. Families clamored for yards large enough to safely entertain in, and suddenly swimming pools exploded in popularity. Location no longer mattered quite as much, as many of those who could work remotely were willing to move farther and farther away from the larger cities to get everything on their home wish lists.

But....Nowadays the trend is turning. Forget BIG homes and pools. What today's buyers want now is more flexible space

Record-high home prices and rising mortgage rates, coupled with the return to the office, even if only a couple days a week, are prompting buyers to prioritize locations closer to their jobs that they can afford—instead of what’s bigger and better, say real estate experts. Many are making do with smaller homes within their budgets featuring square footage that can be used in a multitude of ways.

“In 2021, space was the housing story followed by affordability,” Ali Wolf, chief economist at Zonda,  tells Realtor.com®. “In 2022, affordability is the lead story followed by space.”

Those who can’t afford to purchase thousands of square feet are expected to seek out rooms that can be used in a multitude of ways, say designers from around the country. They anticipate this will be the top design trend of the year.

“A kitchen is more than a room to cook, a mudroom isn’t just a catchall for dirty clothes, and a den is becoming more than just a place to watch movies,” say  designers. People are choosing design options to make their kitchens look more like a living space with built-in appliances instead of traditional stainless steel,  so residents can easily hop on video work calls. Other suggestions include installing a Murphy bed in a guest room so that it can be used as an office or even a workout room as well.

Interest is and will remain strong for the most affordable homes in any market as first-time buyers, investors, and cost-constrained shoppers compete for the same homes. Circumstances “will force some buyers to make compromises.” Thus, flexibility of space will continue to be a major factor in order to maximize tight square footage.