PHILADELPHIA, PA, September 04, 2013 /24-7PressRelease/
-- As a real estate professional based in Miami, Tom Cabrerizo
--founder and CEO of real estate firm CFH Group--knows that the South Florida area is not necessarily at the top of the list for those looking to build families in quiet suburbs. While there are certainly areas that have gained notoriety for attracting retirees, college students and single professionals, the trend in pursuing a child-free lifestyle is now being noticed throughout the entire country. According to Cabrerizo, if this trend rises, apartment developers and managers will have to make many accommodations to serve this growing tenant base.
In an effort to illustrate how this trend is impacting the domestic real estate market, Tom Cabrerizo points to a recent article
from AOL Real Estate that highlights the top cities for child-free living. The article reveals, "American households are changing, becoming more unconventional -- and one of the most dramatic changes is that they're much less likely to include children. Time magazine explored 'The Child-Free' life in a recent cover story that trumpeted it as perhaps the new way of 'having it all,' and cited a birthrate that's at its lowest point in American history: Nearly one in five women end their child-bearing years without birthing or adopting a child; in 1970 it was only one in 10."
The article continues, "Perhaps taking a cue from those statistics, Estately, a member of numerous Multiple Listing Services, which shares listing information from hundreds of brokerages all over the country, has taken a look at U.S. cities with unusually low numbers of minors, interviewed a handful of advocates of the kid-free lifestyle, and picked the 14 places that most suit that presumably free-wheeling way of life." According to Cabrerizo, some of those cities on the list--such as Miami Beach and Las Vegas--are obvious contenders, but the selection also features some more surprising picks, including Madison, Wisconsin, currently ranked number 13.
Tom Cabrerizo comments, "As a result of the recession, many adults have begun to reassess how they build their families in an economic fashion. Many are choosing to raise only one child, while some are content with just a spouse. As a result, adults are no longer going to necessarily be driven to buy large single-family homes, designed to accommodate the needs of the moderately-sized American family. Instead, they may find themselves drawn to apartments and condominiums that may prove less expensive or less cumbersome."
However, in order for the multifamily real estate sector to keep up with the trend, Cabrerizo notes that many developers, managers and other industry professionals will have to adjust to appeal to this growing market.
"Those developing, leasing or selling multifamily properties will need to take a lot of different factors into consideration to make sure real estate remains appealing to this group of consumers. For instance, prime location may no longer be defined by proximity to top-rated schools, but by the surrounding nightlife and professional community instead. In addition, style and functionality--such as tech integration--will most likely prove essential characteristics for the child-free tenant," Tom Cabrerizo concludes.
Tom Cabrerizo is the founder and CEO of CFH Group--a privately-held, Miami-based real estate organization that specializes in acquiring under-valued, physically distressed, and under-managed apartment communities and commercial properties at competitive prices. CFH Group adds value to these properties through renovation and strategy, creating in-demand housing and commercial space in highly desired geographic locations. Over the course of the last decade, Cabrerizo and his team have managed more than 18,000 residential units and an excess of two million square feet of commercial space across the southeastern region of the United States. Apart from his professional endeavors, Cabrerizo is a devoted family man who enjoys travel and charity work.