What sort of places are older empty-nesters looking at when they contemplate moving (back) to Philadelphia?
Carmel Archdekin says that her clients are looking mainly for new construction or recently renovated properties.
“Most of these people want new. They want beautiful. They want renovated. They’re buying homes with the same mentality the thirtysomethings who are buying have.”
That means that new developments such as Toll Brothers’ 410 at Society Hill (pictured) and 2400 South, both condominiums, get snapped up quickly by more mature house-hunters.
But it doesn’t mean that older buildings get passed over completely. Condominium units in buildings such as Center City One in Washington Square West, Independence Place in Society Hill, and 210 W. Rittenhouse Square don’t stay on the market long on those rare occasions one becomes available, Archdekin said.
One possible reason for their popularity: Pet-friendliness. “Many older established buildings that cater to 55-plus buyers, such as The Philadelphian, the Hopkinson House and Society Hill Towers, don’t allow pets at all.” Of course, older buyers without pets can add these places to their list of sites to consider.
The empty-nesters also place a premium on convenience. “They’re looking for one-level living in elevator buildings,” she said. “They’re also looking for walkability. A lot of these people who come from the suburbs, they’re sick of driving everywhere. They’re getting rid of their cars, and that’s amazing. They’re a little hipper than your typical older person.”