What Exactly is a Townhome?
Jan 20, 2023
A townhome or townhouse is a type of housing design that originated centuries ago in Europe. They are typically two stories tall, with narrow facades attached to one another by walls on either side. The design was popularized in the United States during the late 19th century when it became a standard option for city dwellings, particularly in New York, as an alternative to single-family homes popular in suburban neighborhoods.
Why so Popular?
Townhouses have become increasingly popular as desirable housing options for many urban dwellers due to their unique design features. They offer the convenience of living close to city centers while providing some advantages of traditional suburban living.
Additionally, townhomes are often more affordable than other types of housing and often require less maintenance, making them attractive for those who wish to keep their monthly costs low.
Townhouse vs Condo vs Apartment. What is the Difference?
Deciding which type of property best suits your needs and budget can be a daunting task. Townhouses, condos, and apartments are all attractive options but have very different characteristics.
Townhouses are usually two stories with a shared wall on one or both sides, plus a private entrance and garden area.
A condominium or condo is similar to apartments because they’re located within one larger building. Still, each unit is owned by the occupant instead of being rented or leased. In addition, the common areas of condo buildings typically belong to all occupants instead of the individual who owns the unit.
Apartments, typically the most affordable out of the three, involve renting or leasing an individual unit in a much larger building; these often have several floors and share living spaces like apartment lobbies or rooftop decks.
Why Choose a Townhouse?
When it comes down to choosing a home, there are a variety of factors involved when considering townhomes. Townhouse living is typically ideal for those who prefer smaller spaces without giving up access to communal amenities while also having plenty of community interaction with neighbors who share similar interests and lifestyles.
Free-standing single-family homes can provide more space than a townhome but come at an increased cost when factoring in utilities, property taxes and maintenance costs; however, this extra investment could pay off if the homeowner wishes to stay long-term or resell the home at some point later on down the line.
Ultimately, deciding between all options will depend on individual preferences regarding a desired size versus overall cost-savings or return on investment potentials, so it’s essential to research each type before making any final decisions about where you want to settle down long term.