Townhouses are in higher demand today than one year ago. Construction rates for attached single-family housing is rising, according to the National Association of Home Builders. Quarterly starts of townhouses jumped up to 17,000 units in the second quarter of 2012, compared to 11,000 starts in the second quarter of last year. The market share of townhouses hovers at around 11% of all single-family starts in the second quarter, up from 10.4% in the first quarter, but lower than the 14.6% peak enjoyed in 2008.
Seattle, like other large metropolitan cities, is a prime market for townhouse construction, given that many families want to live in urban areas that are walkable and full of amenities. Purchasing a single-family home may not fit every household’s budget, so the townhouse is an affordable alternative. Today’s townhome buyers can get new construction, a private garage, energy efficiency, and the latest in design.
Centerline Homes, a Florida-based builder, shares the 5 top reasons that buyers should consider purchasing a townhouse.
- Affordable luxury — The townhouse is an ideal option that provides maximum livability.
- Changing lifestyles — Boomers may grow into the townhouse as empty nesters, and Millennials may find it to be the perfect starter place.
- Lower maintenance — Minimal or no yard work is required of the homeowner.
- Location — Townhouses located in urban areas are attractive to households that want more lifestyle, less commute.
- Right-sized design — Bigger is not necessarily better. Efficiently-designed spaces can go a long way.