Remember the housing downturn of 2008? In the immediate aftermath of the last recession, when foreclosures were as common as crabgrass, buying a house with more than 3,000 square feet seemed foolish, if not greedy.

“Back then, large houses were frowned upon in some circles,” says Fred Meyer, a property appraiser and the president of a long-established realty firm located on Harvard Square, in Cambridge, Massachusetts.

But much has changed since 2008, according to Rose Quint, an economist for the National Association of Home Builders (nahb.org). To many, the recession-era notion of voluntary simplicity now seems somewhat quaint.

“Over time, the cultural trend for more desired square footage for single-family homes has increased among consumers,” says Quint, citing surveys conducted by the association.

The latest available U.S. Census Bureau statistics on newly built housing -- for 2016 -- underscore this cultural trend. Of the 738,000 single-family homes completed that year, well over half had four or more bedrooms, and nearly that many had three or more bathrooms.

“There’s something beguiling about big houses,” says James W. Hughes, a housing analyst and dean emeritus of the Edward J. Bloustein School of Planning and Public Policy at Rutgers University.

Of course, with rising land costs and soaring housing prices in popular neighborhoods, the gap between the desire for large housing and its affordability has steadily widened. Entry level buyers are now particularly hard-hit, and need to allocate their dollars wisely when considering which home features make sense for them.

“Think through your realistic needs. For example, if you work from home a lot, you might truly need a spare bedroom for a dedicated home-based office. But a formal dining room could be superfluous,” Hughes says.

Here are a few other pointers for buyers:

-- Search for the strongest neighborhood you can afford.

Whenever there’s a downturn in housing, the rebound comes most quickly in what Hughes calls “winners’ circles.” These are communities that retain their desirability during all phases of the economic cycle.

Those seeking a large house might get an excellent deal in a distressed area. But as Hughes says, that could be a perilous choice going forward.

His advice: It’s better to compromise and buy a smaller house in a stronger neighborhood than the reverse.

-- Choose an area with a reasonable commute.

In the past, many people bullish on large houses willingly accepted a lengthy commute in exchange for more square footage and a sizable yard.

But given ongoing uncertainties about energy prices, more buyers are now wary about accepting a long commute. That means the future resale potential of a home you buy now in a distant suburb or exurban area could be uncertain.

“Buying a house that requires its owners to make a one-hour-plus commute is a significant financial risk, particularly if you have to sell within five to 10 years,” Hughes says.

-- Seek a community with the best possible public schools.

It’s widely believed that strong neighborhood schools help keep property values high over time, and Hughes supports this view. How can you check out school quality? Real estate agents typically decline to characterize schools in terms of quality, for fear their remarks might be taken as discriminatory. Yet your agent should be willing to provide you a large volume of statistics that compare schools on test scores, high school graduation rates and other quantitative factors. Then, too, you can make an appointment to visit schools to see how they fare on the intangibles -- like the warmth and receptivity of teachers and staff.

In addition, for a fee you can buy detailed online reports on local schools through a service such as SchoolMatch (schoolmatch.com), a research organization focused on comparative school quality.

-- Screen property for the needs of your particular household.

Meyer says many parents of school-age children want a house with a large master suite that’s segregated from the cluster of bedrooms where their kids reside. This is especially likely if their offspring are teenagers who thrive on loud music and games.

Empty-nest parents can also be candidates for large housing, which is particularly likely if one or both spouses run a home-based business.

“It’s common nowadays for homebuyers to ask for ‘his and her’ home offices. They want a big house with a ‘library’ or two that’s separated from the main living areas of the property. This requires lots of space,” Meyer says.

Surprisingly, he says there’s another group of buyers who also aspire to a large home purchase: well-to-do grandparents.

“It’s not uncommon for affluent buyers over age 65 to seek a big house with multiple bedrooms where they can put up lots of visiting family members,” Meyer says.

Of course, relatively few buyers can now afford to own and maintain a spacious place in a highly desirable neighborhood. But if you are the lucky exception -- and plan to soon enlarge your family or live in your next property for an indefinite period -- Meyer recommends you buy now for your future needs.

“Try to reach for a house where you can stay for some time. Due to transaction costs, it’s very expensive to keep moving every few years,” Meyer says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

America’s baby boomers -- the 76 million born between 1946 and 1964 -- include many believers in second chances. Hence there are numerous second marriages within this population group. And after marrying, many couples wish to buy a property together.

But for boomers with grown children, personal finance experts caution that a failure to plan ahead can lead to future problems after one spouse dies.

“Couples in blended families want to protect the interests of their own grown kids. But if you don’t have a will or a trust in place, the courts will decide what happens to your stake in the house, and that can get really messy,” says Eric Tyson, co-author of “Personal Finance After 50 for Dummies.”

He strongly recommends that couples in second marriages consult an estate planning attorney before buying a place together.

“Contrary to popular belief, estate planning isn’t just for the rich. Even those with limited assets need to think through what they’ll want to happen to those assets after they pass away,” Tyson says.

How can you find a knowledgeable estate attorney to help formulate your plans? Tyson recommends you go to the website of the American College of Trust and Estate Counsel (actec.org), an organization of lawyers who specialize in estate planning.

Before you buy a property with your second spouse, he says it’s wise to discuss your intentions on how equity in that home will be divided upon your death.

Denis Clifford, an attorney specializing in estate planning, says the key is to ensure that your wishes are carried out in accord with state law.

“After you die, you don’t want your children to miss getting the equity from the house because of a poor plan. By the same token, you also wouldn’t want your spouse thrown out on the street due to a bad plan,” says Clifford, the author of “Plan Your Estate.”

Although a relatively simple will is sufficient for many couples, he says those with children from a previous marriage may wish to establish a “living trust” to help ensure their estate is settled smoothly and fairly after they die.

Here are a few pointers:

-- Make sure the legal advice you obtain is expert.

Jordan Simon, the co-author of “Estate Planning for Dummies,” is an investment manager, not a lawyer. But he strongly advises people who want an estate plan to hire an attorney to help ensure they get solid advice.

“Trying to create your own plan makes doing your own taxes seem like a walk in the park,” Simon says.

Although several books and websites encourage consumers to create their own wills and trusts, Simon says those who do so risk making mistakes their survivors could live to regret.

Charles Abell, an estate planning attorney affiliated with the American College of Trust and Estate Counsel, says there’s no such thing as a “one size fits all” estate plan -- even for moderate- to middle-income people. Because the laws governing probate differ from state to state, he says it’s critical you choose an attorney licensed to practice in your state.

-- Rely on personal recommendations in your search for a suitable lawyer.

Obviously, anyone can find an attorney through a professional lawyers’ organization, such as a local bar association. But you’re usually better off asking for recommendations from friends, relatives or professional contacts -- such as your accountant, according to Patricia Annino, an attorney in the field.

“The best way to find a good lawyer is by word of mouth,” says Annino, author of “It’s More Than Money: Protect Your Legacy.”

Tyson cautions consumers against choosing an estate planning specialist based solely on advertising. He also urges people to avoid picking a lawyer who offers them a free dinner to participate in an estate planning seminar.

“Although they don’t say so, many times these lawyers are really trying to sell you high-priced annuities or insurance products,” Tyson says.

-- Educate yourself in advance of hiring a lawyer.

Are you and your spouse scrimping to save for a place to house your blended family? If so, you’re likely fearful that going to an estate lawyer could cost you a significant sum.

But Tyson says there are several ways to limit your legal fees and still get a quality estate plan that will safeguard your intentions relative to the inheritance of your assets. One way is to find a lawyer who will give you a firm, up-front estimate on the cost of doing your plan. Another is to educate yourself on estate planning basics before your first visit with the attorney.

“I suggest you buy a good book or two on the topic. That way you will at least become familiar with some of the basic jargon and concepts used in the field,” Tyson says.

-- Don’t delay on the need for estate planning.

Annino says a surprising number of people get all the right estate documents drawn up and then refuse to sign them.

“Some folks have a superstitious feeling that once they sign the documents, they’ll die soon after,” she says.

But Annino urges people to avoid letting anxieties block their progress toward creation of a watertight estate plan.

“Don’t let your fears about your mortality keep you from completing this important step,” she says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

Are you approaching retirement and plan to tap home equity to remodel your property so you can age in place --perhaps by adding a first-floor bedroom suite that spares you the need to climb stairs? If so, you could be in for an unhappy surprise.

“Mortgage rates are definitely rising, but many people aren’t paying attention yet. Over the last 10 years, they’ve been spoiled into thinking rates will always stay low,” says Mike Hummel, the managing director of an independent mortgage firm that’s been in business since 1997.

The upshot on higher rates is that you’ll pay more to do a “cash-out” refinance. But it could still make sense to go forward with your refi plan, assuming you do so promptly, says Keith Gumbinger, vice president of HSH Associates (hsh.com), which tracks mortgage markets across the country.

“Why procrastinate? If you need to remodel your house, you’re better off pulling the trigger now before rates rise even more,” Gumbinger says.

The Joint Center of Housing Studies at Harvard University estimates there are 25 million households in the country whose owners are 65 or older. Of those, it reports that 44 percent need physical changes to their property to accommodate one or more residents.

“Not even a third of homes have what could be considered basic accessibility features: a no-step entry and bedroom and full bathroom on the entry level,” according to a report that the Harvard center issued on the topic.

Hummel encourages seniors who are interested in remodeling with a cash-out refi to contact a reputable lender in their community to discuss their current options.

“Find out what’s possible and go from there,” he says.

Here are a few other pointers for senior homeowners considering refinance:

-- Acknowledge that -- as always -- good credit rules for lenders.

Ever since the real estate downturn of 2008, lenders have maintained tight standards with little latitude to bend the rules.

“As has been the case for all these post-recession years, you still have to jump through a lot of hoops to get a mortgage of any kind, including a cash-out refi,” Gumbinger says.

Now as much as before, prospective borrowers are asked to explain blemishes on their credit reports, correcting flaws and inaccuracies when possible. Even seemingly minor dings, like an unpaid balance on a cellphone bill, could complicate the processing of your loan.

Prudent borrowers closely examine their credit reports before applying for a home loan. Under federal law, each year you’re entitled to one free credit report from the three largest credit bureaus: Equifax, Experian and TransUnion. Just go to this website: annualcreditreport.com.

You’ll also want to access your credit scores. Such scores, which draw on data from the credit bureaus, provide lenders with a quantitative measure of a person’s credit risk. Most lenders still use FICO scores, pioneered by the Fair Isaac Corp.

Usually, you need to pay a fee to obtain your credit scores. One approach is to buy these through the Fair Isaac website: myfico.com. You can also receive credit scores through the three large credit bureaus. FICO scores range from 300 to 850.

-- Try to reduce your credit card repayment burden before refinancing.

Does your household have multiple credit cards and more debt than you’d like? If so, remember that big minimum monthly payments on your plastic can limit your capacity to take out as large a mortgage as you’d like when you refinance.

Along with your FICO score, another key qualifier is your “debt-to-income ratio.” If you face high minimum payments each month -- whether on credit cards or car payments -- you might be unable to borrow as much as you need when you refinance.

As Gumbinger says, one way to lower your monthly debt payouts is to move balances from your highest-interest-rate credit cards to your lowest-rate one. Alternatively, consider moving high credit card debt to an installment loan made through a credit union or a community bank.

“Too high a monthly payout is a problem for many mortgage borrowers,” Gumbinger says.

-- Favor a fixed-rate mortgage over an adjustable-rate one.

One lesson many consumers learned the hard way through the 2008 mortgage crisis is just how perilous adjustable-rate mortgages can be.

Though they often start off with a low “teaser rate,” ARMs can later adjust upward -- sometimes to a shockingly high level. That could prove especially problematic for retired seniors who often live on fixed incomes.

“The reality is that if you accept an adjustable-rate mortgage, you’re agreeing to bear the risk of still steeper mortgage rates going forward,” Gumbinger says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)