Why townhomes are the new popular kid

Home prices have nearly doubled in the past decade, and jumped about 30 percent from 2021 to 2022, according to the Utah Association of Realtors®. That’s a pretty big downer if you’re looking to buy a place to call your own. 

But don’t give up hope just yet. If owning a home is your dream, it may just take a shift in mindset. Many first-time homebuyers only consider a traditional single-family house. But if you want something less expensive, easier to maintain and closer to urban life, there’s a better option — a townhome.

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Single family vs. townhome

Single-family homes and townhouses may have similar square footage, but the latter’s space is more vertical  — usually two or three stories. The biggest difference, of course, is that a townhome will have at least one wall common with a neighbor. However, unlike a condominium or apartment, when you purchase a townhome, you are also buying the land it stands on. 

Location, location, location

Townhomes have traditionally been built close to urban centers, putting you near restaurants, theaters and vintage clothing stores. Those built in areas just outside of Salt Lake County are often near FrontRunner stations. Handy, because you can get downtown easily and not waste time circling like a vulture to find parking.

More townhomes are popping up in suburban areas of Utah, which families with young children may appreciate. Many are being built amongst single-family homes. Perfect for close access to schools, parks, biking trails and grocery stores.

More for your money

One of the best parts of townhome ownership: You get more for less. While a single-family home and townhome may have the same square footage, it’s almost certain the latter will cost significantly less. For example, in 2021 the median price for a single-family home in Utah was $460,000, compared to $345,000 for a townhome, according to the Kem C. Gardner Policy Institute.

Because builders can put multiple properties in a smaller space, fewer materials and less land is needed. Overall, it costs less to build. As a result, buyers may be able to live in a more upscale neighborhood for less money. Also, a smaller lot size means you’ll pay less in property taxes. Pretty nice deal.

There’s an additional bonus. With the popularity of townhouses on the rise, more units are under construction. Newer builds mean you get modern materials. Think granite countertops, high end cabinets, smart fixtures and energy efficient windows. 

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Amenities: Let’s play

Another advantage of living in a townhome community: cool amenities. Always wanted a swimming pool? It’s yours. Want to host Friendsgiving but don’t want anyone snooping through your bathroom cabinet? Use the clubhouse. No need to join a gym, visit the fitness room. Playgrounds, barbecue pits, tennis courts — each place has its own luxuries. Whichever ones they are, they’ll likely be more than you could afford alone. 

HOAs do the walking

Most townhome communities have a homeowners association. With your monthly fees, the HOA takes care of the pool, but it also makes sure sidewalks are shoveled in the winter and lawns are mowed in the summer. An HOA will take care of all common spaces, fixing broken sprinklers, pulling weeds and other maintenance. 

It will also enforce rules, so your neighbor can’t keep washing machine parts strewn across the yard. Or have 15 roommates. Or three Saint Bernards.

Get your feet wet

The lower price may make townhomes an obvious choice for first-time buyers, but there are other advantages. It’s also a great opportunity to dip your toes in the waters of home ownership. Maintaining a townhouse is often cheaper — and easier — than a conventional house because you’re only responsible for the interior. When your roof needs new shingles or the siding needs to be painted, you can pass the buck to your HOA, which arranges the exterior upkeep.

A townhome is ideal for single adults, couples with young families, retirees and anyone else who doesn’t want to worry about maintenance. Rather spend your weekends hiking in the mountains? Or finding the best Thai food in town? Rhetorical questions, obviously.

Community calling

Sharing a common space can add to a sense of community, too. Not college dorm closeness. More like ‘50s sitcom closeness. Unless you’re a hermit, you’ll likely run into your neighbors often, since your front doors are fairly close. You’ll see each other in the communal spaces and at events, giving you ample opportunity to learn names.

This community family is also a safety benefit. Funny noises next door while your neighbors are away? You’re on it! Noticed they haven’t been outside for a week? Maybe see if they’re feeling all right. Living relatively close to one another can naturally build a kinship, if you choose to dive in.

Smaller footprint

Townhomes are also a good option when you’re looking to make a smaller footprint. Climate change, drought, carbon emissions. A townhome actually reduces your impact on a lot of that. Shared walls means less heat loss, so you won’t be relying on an HVAC system as much. Smaller yards means less water use. Nearness of public transportation means less driving. So, you’ll be contributing to a happier earth.

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Win-win

Fun amenities paired with convenient locations make townhomes intriguing. Add in maintenance-free living and a sense of community, and you have a compelling choice. And a chance to help the earth? Sign me and my tote bag up. Search KSL Homes for a townhouse that meets all your needs and has a few perks, as well.