For a certain category of homebuyer, the purchase of a townhouse represents an attractive compromise in the sometimes-difficult choice between a single-family home and a condominium. Single-family homes offer square footage, acreage and privacy while condominium living enables unit owners to enjoy freedom from direct responsibility for exterior maintenance and repairs. Each has advantages and disadvantages and for buyers who find themselves torn between the two choices, townhouse living presents a viable alternative that encompasses the best of both worlds.
One great selling point about townhouses is that they afford buyers a lot of bang for their buck. They have everything a single-family home has, including a small patch of land to call your own, but given the smaller footprint and shared walls, townhouses often cost considerably less than their single-family counterparts. Combine the affordable purchase price with the comfort in having someone else pull your weeds, shovel your snow and handle roof leaks and you can see why many homeowners opt for townhouse living.
In today’s evolving real estate market, many young families find that they want some green space and fresh air living for their children, but they are not necessarily interested in the weekend upkeep that accompanies single-family homes. Conversely, many of their baby boomer parents find themselves in the same position as they downsize from large, single-family homes. For a substantial number of these buyers, traditional condominiums seem too much like apartment living. Contemporary townhouses, complete with open concept layouts and all the amenities that buyers are looking for, are the perfect solution for both groups of buyers.
In addition to assuming responsibility for the lion’s share of exterior maintenance and repairs in a community, the townhouse HOA (Home Owner’s Association) often hosts a community centre with amenities ranging from swimming pools to tennis courts, playgrounds and gyms. All or a portion of the costs for these amenities are included in the monthly HOA dues payable to the Association. As the world moves in the direction of more sustainable, environmentally conscious housing, townhouses, with their reduced footprint, use of vertical space and shared spaces, are an excellent choice for homebuyers looking to “go green” and reduce their own carbon footprint.