Baby boomers, also known as empty nesters, were the biggest homebuyers in 2013, according to The Washington Post. Since this group is no longer first time buyers looking for a home for a young family with kids, baby boomers want a home with low-maintenance, walkable communities for their urban daily conveniences, close to shops, restaurants and public transportation where they can age care-free. These older buyers are now big business for DC homebuilders.
Folks over age 45 without kids under the age of 18 at home, mature couples over age 45 without children and retirees over age 65 make up 45% of all buyers in the DC area in 2013. This group wants more amenities and are willing to pay more even though these homes are sometimes smaller. New designs are aimed at empty-nesters accommodating their future needs better; many designs include a 1st floor bedroom with a full bath, few stairs, and an option for one-level living.
Empty nesters want less maintenance, or a rambler-style home on one level, or a condo. Some empty nesters choose an active adult community for buyers 55+, but other baby boomers want to downsize, live in walkable communities and want a new home to avoid renovation projects. Buyers interested in active adult communities usually are attracted to the lifestyle, recreational amenities, a Clubhouse and socializing with people with similar interests and ages.
While there are many DC area neighborhoods that are appealing to baby boomers, here are three of the most popular:
We are fortunate in the DC area to have so many walkable urban neighborhoods that offer an appealing lifestyle to baby boomers. Old Town in Alexandria is a favorite neighborhood for many baby boomers. The restaurants, shopping, cultural attractions and waterfront are a true draw to this neighborhood. Housing in Old Town ranges from historic 18th century row houses to new full-service luxury condo buildings. The free King Street Trolley serves Old Town and provides a convenient connection to the King Street Metro Station. Read more about Old Town real estate.
Located “close to everything,” the West End is popular with DC’s baby boomers. Walk to world-class restaurants, grocery stores the Georgetown Waterfront, Downtown and more. The West End is home to several upscale, full-service condo developments that offer concierge services, fitness centers, pools and more as well as many other more modest developments. The neighborhood is served by the Foggy Bottom Metro Station, located within a short walk of the West End. Explore West End real estate options.
Reston Town Center
The Reston Town Center has emerged as a favorite of many of Northern Virginia’s baby boomers. Arguably the best designed suburban town centers in the DC suburbs, the Reston Town Center packs a solid punch with a wide range of housing options, dining, shopping and retail galore. The extension of the Metro’s Silver Line to Reston enhances the transportation options for boomers living in this neighborhood. Learn more about Reston Town Center real estate.