So, what makes a home a townhome? By definition, townhomes are multi-story houses in housing developments, typically in a row which are attached to one another by shared walls. Townhouses have proven popular among a wide age range with many new homeowners finding more benefits than offered in apartments or regular homes. At Rehive, we’re working with developers selling close to 100 new townhomes in the next year.
Below are some of the perks people are discovering about living in townhomes.
1. Cost-Effectiveness
By and large, townhomes are cheaper than single-family homes, but you still maintain an interest in the property, unlike an apartment. This makes them an ideal option for first-time buyers. Townhome living allows you to have all the conveniences that come with a condo while also experiencing the benefits of homeownership. If you’ve just come from apartment renting, the maintenance-free lifestyle provides an easy transition to homeownership.
Additionally, owning your home allows you to build equity, making a townhome a better financial investment than renting. Furthermore, you don’t have to pay staggering property taxes when you live in a townhome. Due to the smaller lot size, property taxes paid by townhome residents are lower than those for conventional homes. When comparing townhomes and standalone homes within the same neighborhood, townhomes have been shown to be more affordable.
2. Advantageous Surroundings
While some townhomes have started forming in suburbs, they still tend to be situated in convenient locations. Living in a townhome will often put you near plenty of amenities such as shopping, dining, and entertainment.
Uniformity, simplicity, and convenience are key objectives in townhome developments. As such, many of the services and amenities that you need will be included in the HOA fee or purchase price. This may include services like pest control, HVAC inspections, and trash service, as well as amenities like swimming pools, exercise facilities, and even car washing stations.
3. Community with Privacy
One main attribute of townhome living is the sense of community and camaraderie one experiences. Living in a community of people with similar interests enjoying a similar lifestyle can quickly create bonds of friendship.
Many would think that gaining this closeness would mean sacrificing your privacy but this isn’t the case. Townhomes are designed for the peace and quiet that many desire. They’re built-in units that are next to, rather than on top of, each other. So you don’t have to worry about the hopelessly bad tap dancer above you or noise-sensitive spinster below you.
4. Sense of Security
That community aspect also lends itself to a safer environment. By design and build, Townhomes offer a greater sense of security due to being surrounded by neighbors. Within the townhouse community, it’s easier to recognize when things are out of the ordinary. The proximity of homes makes it easy to take note of unusual activities, giving residents more peace of mind.
Being able to enter or exit these townhouse communities is also limited to two or three points of entry. This restricts the number of strangers invading the premises. Furthermore, many townhome communities have well-lit streets or gated entrances making it much safer than a series of standalone single-family homes.
5. Low Maintenance
If you dislike all the little tasks that come from managing a pristine yard, one of the great things about owning a townhome is that you typically get some yard in the front and back, but don’t have to maintain it. Most townhome HOA’s take care of issues involving landscaping. And this isn’t limited to just lawn maintenance. Some HOA’s also manage exterior repair and cleaning.
The HOA’s also handle other amenity locales such as pools, common areas, parks and other green spaces that you can enjoy without having to the responsibility of keeping it up.
6. Modern Design
Townhomes take up a smaller footprint than regular, detached homes because of their vertical design. This allows them to be in urban areas, where space might otherwise be too small. Unlike many apartments or condos, townhomes usually provide more than one level to your living area. Townhome floor plans are designed to take advantage of any possible wasted square footage, and the multi-level floor plans provide more functional and versatile rooms that can be customized to your needs and preferences.