downsizers vs. millennials
We’ve long known that Old Town has a lot to offer—shops, restaurants, culture, neighborhoods with a lot of character, history, waterfront views, etc. (I could go on, but I’ll spare you). The area has received further confirmation of that fact lately as we’ve seen two very different groups making their way into Old Town and its surrounding neighborhoods.
One of those groups is millennials, just starting out in their careers and finding Alexandria to be a wonderful destination for several reasons. The other group is downsizers, people who have had long and fulfilling careers and are now ready to move from their suburban family homes to homes in the heart of Old Town.
Millennials are coming to Old Town because of its central location and because they don’t need certain things that make suburbia appealing. For example, they don’t need a lot of storage space, because they have not had homes of their own long enough to accumulate a lot of furniture and belongings, nor are they looking to acquire all of their parents’ things.
Another thing that many millennials do not see as an absolute necessity is a parking space. They are satisfied with the Metro access that Old Town provides, and have also become well acquainted with a glorious thing called Uber. Whereas many young people previously wanted to live in D.C. or Arlington, the young people of today feel that they can get anywhere fast, whether their destination is work, nightlife, or anything in between.
Old Town appeals to downsizers, meanwhile, for a couple reasons. First, it encompasses the lifestyle they look forward to living again. Many resided in urban areas before they transitioned out to the suburbs, and miss the easy access to everything that a place with a city feel provides: restaurants, coffee shops, events and activities, and more. Walkability is a major draw. Old Town is beautiful, of course, with its proximity to the water and its historic architecture. It also offers just the right combination of hustle-and-bustle and retreat.
Because of this increase in downsizers moving to Old Town, we’ve noticed that more homes are being built with elevators lately, and we’ve seen a lot of estate sales. Overall, though, the average age of Old Town residents continues to drop drastically.
If you’re downsizing, we ask you to consider the Patterson Group. We come equipped with a team of professional organizers who will help you sort through everything and get your home ready for the market. See our recent post about staging for more information.
If you’re a millennial, we’d love to help you, too! We sell homes at every price range and can help you find exactly what you’re looking for.
- About the team
The Patterson Group is one of the most experienced and trusted real estate teams in the area, serving Alexandria, VA for over thirty years. We offer professional, hardworking, detailed and friendly service and a large network of contacts and resources accrued over our many years in Alexandria real estate. Comprised of seven Alexandria locals, six of whom are licensed realtors and three of whom are accredited staging professionals, The Patterson Group is passionate and knowledgeable about Alexandria, VA and here for all of your Northern VA real estate needs. Allow us to help you find your home here and discover all that the Alexandria lifestyle has to offer.
400 South Washington Street
Alexandria, VA 22314
703.310.6201
