Making way for millennials on the Main Line
Husband and Wife real estate team Paul and Lauren Lipowicz have noticed a change in the idea of a suburban dream home from their clients, writes Elizabeth Wellington of Philly.com.
People don’t want a large house on a cul-de-sac anymore. The Lipowiczes started bringing their millennial clients to modest homes on blocks near revitalized main streets, from Bala Cynwyd to Wayne.
“My clients wanted to walk to dinner in the evenings, grab a drink at the local neighborhood bar without the production of getting in their car,” Lauren Lipowicz said. “Living in walkable neighborhoods was definitely starting to factor into quality-of-life needs.”
The Lipowiczes have started to make an impact on the Main Line, turning many aging century old houses into modern loft-like homes. The work they are doing is allowing millennials to buy homes in zip codes years before they believed they were ready to afford it. According to Towncharts.com, 42 percent of people living in Lower Merion Township, not including small children, are over the age of 50. The Lipowiczes clients are at least 10 years younger on average.
“People buying in these neighborhoods are young families coming from the city,” Paul said. “Then these same families become ‘move-up’ buyers a few years later.”
Just like the young families in the generations before them who exited Philadelphia for the suburbs, millennial families want more space and better school districts, but aren’t willing to give up the convenience of city life.
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