A New Housing Trend Has Boomers BuyingHomebuyers now looking at the bright side of housing can now turn to two recent trends. First, national home prices have consistently risen for the past six months, according to the most recent S&P/Case-Shiller Home Price Index. This is a clear sign that the country may finally be in the midst of a recovery from the housing market recession that has remained since 2007.
A second trend is of particular interest to the boomer generation, which comprises almost 40 percent of U.S. households. Over the past few years, a new housing option has captured the attention of more and more people in their fifties, sixties, and beyond. The style of living that has emerged gives 50+ homeowners more free time to follow their pursuits. How? Through lifestyle condominiums in which most of the home maintenance is taken care of by professionals. Residents are free to come and go as they please without concern for the landscaping, snow removal, roof replacement, and other responsibilities associated with owning large single-family properties. It’s the perfect arrangement for those who are ready to simplify living in order to devote more energy to what is valued most.
“These are luxury living communities on the Main Line, not retirement communities,” clarifies Todd Pohlig of the Pohlig organization, an award-winning builder of custom homes in Philadelphia’s Western suburbs. “They are specifically designed for adults who lead very full, active lives.”
Current research indicates that boomers are very different from their parents’ generation. Rather than retiring from life, boomers are staying engaged in activities and work that they are passionate about and that have purpose – no matter their age. They’re remaining socially connected and look for convenient access to the things they value, whether it’s as simple as a place to exercise or a special interest club.
Whereas few builders are addressing this emerging market, Todd and his brother Don Pohlig are out in front of this trend. They designed Athertyn, the Main Line’s premier luxury living community set in the 209-acre Haverford Reserve. With two of its six condominium buildings completed to date as well as a Clubhouse, Athertyn has struck a chord with the luxury market.
Not only is Athertyn the best-selling lifestyle community in the region – 15 homes sold in 2012 alone – but it’s also the #1 of its kind in the nation. This past January, The National Association of Home Builders 50+ Housing Council bestowed its prestigious “2013 Best 50+ Lifestyle Community Gold Award” to Athertyn. Over the last few years, the luxury community has sold $50 million worth of real estate purchased by buyers enthralled with the easy living concept. This figure is especially impressive given the persistently weak housing market over the last few years.
What is it about Athertyn that addresses the growing demand for simplified yet sumptuous living? The first features to capture people’s attention are the extraordinary location and the spacious, elegant condominium homes that are customized to suit each buyer’s needs and desires. There is a wide variety of open floor plans ranging in size from 1,600 to 3,000 square feet, and priced from the mid-$400,000s to more than $1 million.
“It affords adults the opportunity to right-size their lives in a way that gives them more time and opportunity to pursue their dreams,” explains Todd Pohlig, who points out that people are also drawn to the long list of exclusive amenities available to Athertyn residents. The showcase amenity is the clubhouse, which has multiple rooms for socializing and meeting as well as a fully equipped fitness center. Outdoors, residents can enjoy a heated swimming pool, tennis court, and miles of nature trails as well as a community garden. There is even a Lifestyle Coordinator who orchestrates a full schedule of events and activities designed to entertain and inform.
“Boomers are all about exploration and transformation,” says Ann Clurman of The Futures Company, which tracks consumer attitudes to predict future lifestyles and behaviors. “Many of them reject the idea of retirement that they saw firsthand with their parents, where you stop changing and growing and become a fixed entity.”
Considering that there are roughly 78 million boomers between the ages of 48 and 65, it’s easy to forecast a sharp rise in the demand for the ‘lifestyle community’ concept. And it’s safe to say that more and more places like Athertyn are on the horizon.
For more information about Athertyn, please visit Athertyn.com or call 610.525.5110.