With their laser focus on the 55-and-older market, I wonder if home builders and developers might be overlooking an emerging niche: singles.
Rural Setting Charms South Siders
After Lloyd and Cherlyn Lowe's children moved out of their house on Chicago's south side,the couple contemplated their first home purchase in 25 years.
After Lloyd and Cherlyn Lowe’s children moved out of their house on Chicago’s south side, the couple contemplated their first home purchase in 25 years. Lloyd is director of benefits and compensation for a health insurance company; Cherlyn is a homemaker. Both 51 years old, they have two sons, Christopher, 26, and Mark, 24.
"Our younger son had graduated from college. Lloyd changed jobs a few years ago and works in Evanston (a northern suburb), so we started looking there," says Cherlyn. "But prices for new homes were very high, and we didn’t want a townhouse." Nor did they consider a resale home.
The Lowes were in no hurry to buy, and their search took many months. Newspapers, the Internet and a local television show featuring new residential communities helped them research the market.
"One day we just happened to be driving by a community in Lake Villa and decided to go in, even though it wasn’t on our list," says Cherlyn. Cedar Crossing, a Buschman Homes development, captivated the Lowes with its rural setting and convenient location, close to shopping, major transportation arteries and a train line to the airport. Plus, the homes started at an affordable $155,000.
Even though they’re empty nesters, Lloyd and Cherlyn didn’t scale down-their new, two-story home is 1900 square feet, not including the basement. (Their previous home was a 1300-square-foot ranch with no basement.) "We wanted plenty of room so that family and friends could visit," says Cherlyn.
The master bedroom is upstairs, along with two secondary bedrooms. The Lowes extended the standard half-basement to a full basement, which they will use for storage, a workshop for Lloyd and a potting area for Cherlyn, who enjoys gardening.
The lot backs up to trees, fulfilling the couple’s desire to live in a wooded area: "We walk two miles every evening and see lots of animals," Cherlyn says.
Coming of Age