Townhouses gain popularity amid rising housing costs

When Alisa Newman was searching for a home earlier this year, she chose a townhouse over the traditional single-family home. Her decision was influenced by the lower maintenance requirements and affordability of townhouses. "I decided on a townhome because I am single and getting older, and I’m attracted by the prospect of less upkeep than with a single-family home," Newman explained.

Newman relocated to Delaware from Coral Gables, FL, where her previous home required significant maintenance, especially during hurricane season. She highlighted that her new community's Homeowners Association (HOA) handles lawn care and snow removal. The price of $620,000 for her townhouse made it more accessible compared to single-family homes in the area. Additionally, as it was new construction, she could customize features such as wood floors and upgraded kitchen fixtures.

However, Newman expressed some concern about shared walls with neighbors: "I’d like to know if the Rolling Stones or a family with 10 kids will be right next door," she said humorously.

The rising costs associated with owning a home have made townhouses an attractive option for many Americans. Joel Berner from Realtor.com® pointed out that townhouses offer savings on monthly payments compared to single-family homes: “At current interest rates and assuming a 10% down payment, that’s a savings of roughly $185 per month.”

In certain areas like Raleigh, NC, townhouses are significantly cheaper than stand-alone homes. In Raleigh, the median cost for a townhouse is $463,335 compared to approximately $2.5 million for single-family houses.

The appeal of townhouses extends beyond urban centers; suburbs are also embracing this housing style due to limited land availability. James Schaefer, an architect specializing in townhomes, noted that they combine desirable aspects of single-family homes with community benefits.

Despite these advantages, potential issues remain such as shared maintenance responsibilities and noise concerns from neighboring units. Real estate agent Elizabeth Boese advised buyers to ensure individual ownership of exterior elements like roofs to avoid disputes.

Lawrence R. Samuel expressed skepticism about whether townhouses could replace the iconic American dream of owning a single-family home: “I don’t foresee any other form of housing...usurping the supremacy of the single-family house.” He believes that this traditional image aligns deeply with American values.