It seems like everyone these days is getting their first home, a bigger house—or maybe a cheaper place away from the city. While this sounds like a great investment, finding a new home can be extra challenging in a scorching-hot housing market. With so many desperate buyers and few homes for sale, people face serious real estate decisions.
In the past years, real estate developers have been working with land-surveying companies to build condominiums and townhomes in rural areas or vacation hotspots. These units have exploded in sales over the recent years, as people look for cheaper single-family homes who are moving across the country. In fact, more buyers are finding townhomes an acceptable living option as it provides more ambitious housing schemes, especially for those who can’t find a single-family home.
Townhome living has become increasingly popular among young families and first-time home buyers moving to these types of homes.
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Less maintenance
When buying a detached single-family home, you’re responsible for the entire host of interior maintenance. This includes maintaining the property’s lawn, tackling large heaps of snow during winter, and other typical yard chores homeowners do.
One of the most appealing benefits of townhouse living is hassle-free maintenance. While you own the entire land beneath the townhouse itself, you don’t have to maintain the yard in the front and back!
Although the yard space won’t be that huge, you don’t have to worry about its upkeep. Townhomes have a community association that takes charge of external issues, such as landscaping. This is certainly something you don’t experience when owning a single-family home. It can even be a great stepping stone for people who have little patience for yard maintenance.
A sense of community
Are you a people person? Do you love mingling with the neighbors? Townhouse communities generally share the same space and values.
Townhouse units are built in close proximity, and you share the same parking areas. This means more opportunities to get to know the neighbors.
You can also hang out by the window and check out everyone who passes by. Living in a townhouse community means surrounding neighbors are more acquainted with one another. If your neighbors know you are out for a vacation, you can ask them to keep tabs on your home while you’re away.
Even with the close-knit relationship with the neighbors, you can still get a lot of personal space when you need to. You can pick the level of engagement within the community while having the benefit of your neighbors near you.
Availability of amenities
Simplicity, convenience, and uniformity are the primary objectives of townhouse developments. Most of the amenities and services you’ll need are included in the purchase price or community association fee. These include services such as HVAC inspections, trash service, yard maintenance, and pest control. You also have access to essential amenities, such as exercise facilities, swimming pools, and car wash stations.
Townhome communities have common amenities, such as trails and parks, which are great places to hang out and chat with neighbors. They are also built with modern lifestyles in mind, so homes are close to school, grocery stores, retail shops, and other amenities.
Better location
While townhomes have ventured toward the suburbs, they are still found in convenient locations. Although it’s far from being a hot district, a townhome provides a lot of amenities, such as dining, entertainment, shopping.
A townhome can support your chosen lifestyle while living in your ideal location. You experience urban living without the noise and pollution of the city. You’re far from downtown to get the peace and quiet you’re looking for, but close enough to visit the city anytime you want.
Cost savings
Generally, townhomes are a more feasible choice for first-time homebuyers since they’re incredibly affordable than single-family homes.
First off, townhomes offer a more “homey” feeling that you can’t find in condominiums without the expensive costs of a typical single-family home. If you’re looking for long-term savings, townhomes have relatively lower utility costs. It’s not because of the small square footage, but the idea of sharing walls works in your favor since it reduces the costs of heating and cooling systems.
Deciding where to live is one of the biggest life decisions you’ll ever make, so it’s important to consider every factor once you’re ready to make that call. Every living arrangement comes with its own benefits and drawbacks, and the choice depends on your preferred lifestyle. But if you plan on owning a townhome, they make an incredibly feasible option if you want to avoid the responsibilities of owning a single-family home.