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Empty Nesters are Buying in Urban Areas
Dated: April 17 2020
Why Empty Nesters Are Flocking to Urban Areas
Do you know that according to the National Association of Realtors there’s a growing trend of empty nesters buying or renting homes in urban areas? As children leave home, empty nesters are finding themselves living the suburbs in big homes with a lot of empty space. The focus now turns to their own priorities; finding a renewed desire for the energy of cities. shifting preferences, looking to downsize and gravitate toward luxury amenitized residences with communal, recreation and green space communities. Below are four key drivers of the migration:
Minimal Upkeep Maintaining a suburban home can take considerable effort, between the burden of extensive home cleaning, snow removal, landscaping and the routine upkeep of the house’s systems. For those planning to spend a significant portion of their retirement traveling, a smaller, simpler abode means less to worry about when they’re away. In addition, the live-work-play ethos of cities seems universally enticing.
Concierge Services Beyond the laundry, dry cleaning and expanded array of restaurants and food delivery options inherent in most urban properties. Other services include massages, dog walking, personal training, group fitness specialty classes and mobile boutique pop-ups.
Community-oriented Residences Cities that have experienced the greatest influx of retirees now offer various classes, workshops and events that can captivate empty nester’s interests and fill their time. Luxury condo residences have rooftops, decks and game, club and event rooms that foster fun interaction with neighbors.
Accessibility In cities the bars, restaurants, theaters, museums, shops and medical offices are nearby. Urban areas tend to be more walkable, networked with inexpensive public transit and serviced by explosively growing ride-sharing. Many empty nesters prefer condo layouts that are all on one level, and many upscale multilevel condos now have elevators.
There are a number of luxury condo/rental residences in close proximity to New York City that are located in Hudson County along the Hudson River and include communities like West New York, Weehawken, Hoboken and Jersey City. If you have an interest in learning more about these areas and think you may be ready to make a move, I’d be happy to share more information with you on these luxury residences.
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