Have You Thought About a Co-Primary Residence?

Dated: February 15 2021

Views: 91

We are seeing a new trend emerging in urban real estate markets across the country: co-primary residences.

As homeowners react to the current environment, many who can afford to do so are keeping a home in the city that doesn’t quite fit the traditional mold in one’s real estate portfolio. Here are a few things to know about this recent trend and why it may become a long-term shift.

Not a Second Home

With the rise in remote work, the line between a primary residence and a second home has become increasingly blurred, a change that will likely only become more prevalent in the years to come. Rather than only using a vacation home intermittently, families are now able to spread their time equally between two separate homes. While some people may have left the city for good, it’s safe to assume that many will choose to have a co-primary residence there for various reasons. 

Maintain Ties to the City

While the way that we view city life has undoubtedly changed for good, by no means is it a thing of the past. Advantages that range from quality healthcare to cultural institutions and access to airports will continue to hold their appeal in the future and provide enough reason for having a home in the heart of a metropolitan area. Furthermore, even with the increase in remote work, there are many jobs that still require maintaining a presence in the city.

More Than a Pied-a-Terre

Traditionally, it’s quite common for families living in a bedroom community to have a pied-a-terre in the city with a bedroom or two should they need to stay the night. A co-primary residence differs from this in that it’s suited to accommodate the entire family for extended periods, with all the necessary space and comforts to keep everyone happy.

Bottom Line

We are seeing bargains in the market for 3-bedroom condos in Uptown Charlotte, which has so much to offer. Explore my Web site, and look at the drop down menu of Charlotte neighborhoods. Or reach out. I'm at 803-610-1319 and bill@billjordanrealestate.com. 

Blog author image

Bill Jordan

Local Partner. Global Connections. Discreet Service. After years of success in New York City, Bill returned to the South where he was born and raised. As a corporate public relations executive, Bil....

Latest Blog Posts

Estate Planning, Financial Considerations for Multigenerational Families

When you’re creating a multigenerational household, you focus so much on finding the right neighborhood and home and determining the renovations that will make aging in place safe for your

Read More

Current Luxury Home Trends

Current Luxury Home TrendsThe pandemic has changed nearly every aspect of our lives, including how we live in our homes. While beautiful finishes are still an essential part of a luxury home,

Read More

Home Values are Rising in 2021. What about 2022?

One of the major story lines over the last year is how well the residential real estate market performed. One key metric in the spotlight is home price appreciation. According to the latest indices,

Read More

It's Still the Year to Sell Your House. Here's Why.

If you’re trying to decide whether or not to sell your house, now is the time to think seriously about making a move. Fannie Mae’s recent Home Purchase

Read More