Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Yes people are disliking the idea of maintaining large homes more and more. I had a coworker that moved from a large single family home to a condo. Their family just thought it was too much work. People don't like to have to cut grass and do landscaping like they did years ago.
There's going to be an outer-surburban bust in the next few decades. Millennials are looking for more urban style neighborhoods with smaller homes and easy access to public mass transit. They don't own cars and they don't have the relatively comfy paychecks their parents had out of college. They don't see the point in trying to maintain large homes anymore for status. They are opting for more efficiencies. Not only that, as the Baby Boom generation steamrolls into retirement, they too will look for more accessible neighborhoods where they don't have to rely on driving 30 minutes to get to where they need to go. They too will be looking for smaller homes, and places where they can walk to get groceries or their medications, etc. Gone are the days of developments like Beech Tree. If I were looking for a new home to invest in, I'd look closer to the metro area and near a public transit hub. Keep an eye on home sales in places like Beech Tree in the next ten to twenty years. Prices will be static or drop.
There's going to be an outer-surburban bust in the next few decades. Millennials are looking for more urban style neighborhoods with smaller homes and easy access to public mass transit. They don't own cars and they don't have the relatively comfy paychecks their parents had out of college. They don't see the point in trying to maintain large homes anymore for status. They are opting for more efficiencies. Not only that, as the Baby Boom generation steamrolls into retirement, they too will look for more accessible neighborhoods where they don't have to rely on driving 30 minutes to get to where they need to go. They too will be looking for smaller homes, and places where they can walk to get groceries or their medications, etc. Gone are the days of developments like Beech Tree. If I were looking for a new home to invest in, I'd look closer to the metro area and near a public transit hub. Keep an eye on home sales in places like Beech Tree in the next ten to twenty years. Prices will be static or drop.
The flaw in the "millennials won't buy houses with yards because they're living in the cities now" is that no one has taken into account that they're not breeding yet. You'll see them start an exodus then.
Oldest daughter bought a house in rural St. Mary's a couple years ago. The ones around her are selling now (these are mostly older houses, not as old as hers, though) and they're being bought by young families from metro DC who are commuting up RTE 5 to the city.
Houses in Calvert, the poster child for outer suburb, are being bought by early millennials. They're moving from DC and inner Montgomery mostly.
PGVATitans' friend who downsized likely is either an empty nester or has kids who are older and don't need an outside. Downsizing as one gets older is normal in many areas.
There's going to be an outer-surburban bust in the next few decades. Millennials are looking for more urban style neighborhoods with smaller homes and easy access to public mass transit. They don't own cars and they don't have the relatively comfy paychecks their parents had out of college. They don't see the point in trying to maintain large homes anymore for status. They are opting for more efficiencies. Not only that, as the Baby Boom generation steamrolls into retirement, they too will look for more accessible neighborhoods where they don't have to rely on driving 30 minutes to get to where they need to go. They too will be looking for smaller homes, and places where they can walk to get groceries or their medications, etc. Gone are the days of developments like Beech Tree. If I were looking for a new home to invest in, I'd look closer to the metro area and near a public transit hub. Keep an eye on home sales in places like Beech Tree in the next ten to twenty years. Prices will be static or drop.
You know, as a millenial I used to feel this way. I used to love my apartment within walking distance to everything. It was my hipster dream come true.
And then I had children. I like to think that I am not a materialistic person and I only bought the minimum for my first, but suddenly there was an explosion of STUFF in my wonderful apartment. Suddenly the idea of packing baby in my increasingly cramped car and driving places was about 1000 times more appealing than walking or attempting public transit (have you ever seen the mothers on the metro with babies? do you want to be that lady? I don't). There's also the issue of nice areas that are walkable to transit being very very very expensive. And of course DH's job is nowhere near transit and he needs a car. And now I needed a bigger car because of the humongous carseats that children are now obligated to sit in until they're approximately 16 years old took up the entire backseat.
And then there was the worry about buying an older home. I watched my non-handy parents struggle through dealing with an older house with issues (and spend huge $$$$) and I didn't want to live through that again. So in the end I live in a fairly large newer house with a 1/4 acre yard (which we can barely handle taking care of by ourselves btw), and I basically admire urban walkability from afar like the nice liberal hypocrite that I am and think to myself "maybe when the kids move out and I have a ton of money I can move to the city!"
EDIT: lol I wrote that before seeing NBP's post. Only confirmation of her reasoning!
You know, as a millenial I used to feel this way. I used to love my apartment within walking distance to everything. It was my hipster dream come true.
And then I had children. I like to think that I am not a materialistic person and I only bought the minimum for my first, but suddenly there was an explosion of STUFF in my wonderful apartment. Suddenly the idea of packing baby in my increasingly cramped car and driving places was about 1000 times more appealing than walking or attempting public transit (have you ever seen the mothers on the metro with babies? do you want to be that lady? I don't). There's also the issue of nice areas that are walkable to transit being very very very expensive. And of course DH's job is nowhere near transit and he needs a car. And now I needed a bigger car because of the humongous carseats that children are now obligated to sit in until they're approximately 16 years old took up the entire backseat.
And then there was the worry about buying an older home. I watched my non-handy parents struggle through dealing with an older house with issues (and spend huge $$$$) and I didn't want to live through that again. So in the end I live in a fairly large newer house with a 1/4 acre yard (which we can barely handle taking care of by ourselves btw), and I basically admire urban walkability from afar like the nice liberal hypocrite that I am and think to myself "maybe when the kids move out and I have a ton of money I can move to the city!"
EDIT: lol I wrote that before seeing NBP's post. Only confirmation of her reasoning!
I'm a he. Do I write that feminine? I need to reflect.
You know, as a millenial I used to feel this way. I used to love my apartment within walking distance to everything. It was my hipster dream come true.
And then I had children. I like to think that I am not a materialistic person and I only bought the minimum for my first, but suddenly there was an explosion of STUFF in my wonderful apartment. Suddenly the idea of packing baby in my increasingly cramped car and driving places was about 1000 times more appealing than walking or attempting public transit (have you ever seen the mothers on the metro with babies? do you want to be that lady? I don't). There's also the issue of nice areas that are walkable to transit being very very very expensive. And of course DH's job is nowhere near transit and he needs a car. And now I needed a bigger car because of the humongous carseats that children are now obligated to sit in until they're approximately 16 years old took up the entire backseat.
And then there was the worry about buying an older home. I watched my non-handy parents struggle through dealing with an older house with issues (and spend huge $$$$) and I didn't want to live through that again. So in the end I live in a fairly large newer house with a 1/4 acre yard (which we can barely handle taking care of by ourselves btw), and I basically admire urban walkability from afar like the nice liberal hypocrite that I am and think to myself "maybe when the kids move out and I have a ton of money I can move to the city!"
EDIT: lol I wrote that before seeing NBP's post. Only confirmation of her reasoning!
This! It's the same for me and my friends that are settling down. I love city living. My wife and I did the 1BR apartment and share 1 car thing for a few years. But with kids, unless you are super-rich, its a lot easier to just take care of a small yard and deal with a longer commute. At least I'm still close to MARC for commuting.
You know, as a millenial I used to feel this way. I used to love my apartment within walking distance to everything. It was my hipster dream come true.
And then I had children. I like to think that I am not a materialistic person and I only bought the minimum for my first, but suddenly there was an explosion of STUFF in my wonderful apartment. Suddenly the idea of packing baby in my increasingly cramped car and driving places was about 1000 times more appealing than walking or attempting public transit (have you ever seen the mothers on the metro with babies? do you want to be that lady? I don't). There's also the issue of nice areas that are walkable to transit being very very very expensive. And of course DH's job is nowhere near transit and he needs a car. And now I needed a bigger car because of the humongous carseats that children are now obligated to sit in until they're approximately 16 years old took up the entire backseat.
And then there was the worry about buying an older home. I watched my non-handy parents struggle through dealing with an older house with issues (and spend huge $$$$) and I didn't want to live through that again. So in the end I live in a fairly large newer house with a 1/4 acre yard (which we can barely handle taking care of by ourselves btw), and I basically admire urban walkability from afar like the nice liberal hypocrite that I am and think to myself "maybe when the kids move out and I have a ton of money I can move to the city!"
EDIT: lol I wrote that before seeing NBP's post. Only confirmation of her reasoning!
I understand your reasoning, but not all urban style neighborhoods are in the DC price-range. And then you'll have to explain how families in urban places like NYC, Chicago, Boston, and Seattle get by in smaller urban settings. Granted, there are sturdy homes mixed in among the condos/apartments, and town homes. But you can't ignore the overwhelming draw to the inner more urban suburbs. And it will be interesting to see just how many Millennials leave their urban enclaves for the suburbs and how soon.
I imagine we'll cycle into another era of suburban living after 50 years or so unless suburban living was the great experiment of the last 50 years and failed never to return.
I agree that it is hard to balance space needs with affordability.
Thanks everyone for you insight. Looking at that subdivision just put a bad taste in my mouth and I told my fiance there was no way I wanted to spend that much money on a house that was darn near shoulder width apart from the next house.
We're going to expand out search to other counties. We want to have kids in the next couple of years, so we are thinking ahead in terms of space, finances, and resale values and resell (just in case).
His other frat brother did say the downside is that those homes may lose value on their homes they may never recoup. He said some of those people in that subdivision bought their homes for well over $700K when they first started building over there and now you can get a house over there for almost half. That is my concern.
I understand your reasoning, but not all urban style neighborhoods are in the DC price-range. And then you'll have to explain how families in urban places like NYC, Chicago, Boston, and Seattle get by in smaller urban settings. Granted, there are sturdy homes mixed in among the condos/apartments, and town homes. But you can't ignore the overwhelming draw to the inner more urban suburbs. And it will be interesting to see just how many Millennials leave their urban enclaves for the suburbs and how soon.
I imagine we'll cycle into another era of suburban living after 50 years or so unless suburban living was the great experiment of the last 50 years and failed never to return.
I agree that it is hard to balance space needs with affordability.
I agree with you regarding the cycling. But I think there will always be families that prefer suburban living, just like there are those who really enjoy urban living. So there will be exceptions to the cycle.
Personally, despite my urban roots and fondness for the city, I am all about the suburbs. I need plenty of space. The house doesn't have to be large, but I need plenty of green space and trees. I will feel that way even when the nest is empty.
Personally, despite my urban roots and fondness for the city, I am all about the suburbs. I need plenty of space. The house doesn't have to be large, but I need plenty of green space and trees. I will feel that way even when the nest is empty.
That sounds like rural living. I myself prefer a happy medium. Far enough away to avoid the crowds, but close enough not to feel too isolated. That makes the inner beltway suburbs perfect for me. Though my wife prefers the outer suburbs. She grew up in Raleigh, NC. Though they are becoming harder to find, there are neighborhoods inside the beltway that provide that country feel.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I myself prefer a happy medium. Far enough away to avoid the crowds, but close enough not to feel too isolated. That makes the inner beltway suburbs perfect for me. Though my wife prefers the outer suburbs. She grew up in Raleigh, NC. Though they are becoming harder to find, there are neighborhoods inside the beltway that provide that country feel.
