Building smaller. With home prices near record highs, potential buyers are finding ways to make building a home more affordable, and shrinking the size of a new single-family home is an increasingly popular way to do it. Smaller homes help cost-constrained buyers facing high mortgage rates.

Functional designs. Most builders and architects follow the same basic playbook to produce tighter, more efficient living spaces. They are omitting dining areas, bathtubs and separate living rooms. Secondary bedrooms and loft space are shrinking and sometimes disappearing. At the same time, they are increasing the size of multiuse rooms like kitchens and great rooms. Shared spaces like bunk rooms and jack-and-jill bathrooms, which are located between and shared by two bedrooms, are on the rise.

Whether you are looking to become a first time homebuyer or looking to downsize, turn to National Iron Bank to make your dreams come true.

Excerpt from Wall Street Journal