While the American housing market is one of the most unpredictable things in existence, there is one thing that is constant — the production of townhomes.
As a townhome community in West Chester, Ohio, we, here at The Lakes at West Chester Village, are pretty familiar with the benefits of townhome living — but the quality of life that comes with living in a townhome is not the only reason that townhome development is the latest trend in the housing industry.
In today’s blog, we are going to discuss why we think townhomes are the latest housing trend. Continue reading to learn more!
The Production Value
While we understand that it might not affect you as the consumer, townhomes are incredibly cheap to build and a better value to developers in relation to detached single-family homes. When a developer plans to build a townhome community they reach out to builders that are experienced in building large-scale housing communities.
For both the builder and the developer, townhome construction is a win-win situation. Because townhomes are cheaper to build and “cookie-cutter” in design, it is incredibly easy for an experienced crew to build entire townhome communities at a faster pace than detached home communities.
Their Size & Shape
Another contributing factor to the boom in townhome production is their size and shape. In urban and semi-urban communities there is a development crisis that most people are unaware of — developers are running out of space. In fact, some cities are getting to the point where if any new development is to occur older buildings must first be knocked down.
Townhomes are incredibly efficient when it comes to conserving space while also providing people with reasonably-sized living spaces. Townhomes conserve space by having an extremely small footprint. The vertical construction allows people to have more living space while the small footprint and shared walls allow the builder to build more units on the property.
They Benefit Transitioning Families
Since the beginning of time, people have seen townhomes as a stepping stone between apartments and detached homes. While we completely disagree, there is something to be said about how townhomes are the perfect size for transitioning families.
Now, we aren’t saying that families can’t live comfortably in a townhome, but townhomes can allow families to have more space than they would in an apartment as they grow. That being said, after having three or more children a townhome might feel a little crowded. If you visit our West Chester Townhomes you will see bachelors, bachelorettes, new couples, and established families — because townhomes can accommodate anyone!
They Are Affordable
One of the greatest benefits of a townhome, whether you rent or buy, is that they are an affordable housing solution. When defining what an affordable housing solution is, it is important to compare the cost versus the available living space size. Condos are generally much smaller than townhomes, and when the cost of a condo is compared with the cost of living in a townhome, you might be surprised to learn that you get more square footage per dollar in the townhome.
When compared to detached homes, townhomes also have a great value. Renting a townhome is cheaper than renting a detached home and the amount of usable space is still comparable. For example, check out the floor plans and cost of our townhomes for rent in West Chester, Ohio. You might be surprised by how much of a bargain that townhomes are.
They Hold Their Value Well
The last reason that townhomes are the latest and greatest housing style in the developing world is that they hold their value well — and believe it or not, you will see the benefits of that even if you are a renter.
Part of the reason that apartments hold their value so well is that, when built properly, they will require minimal maintenance. Think about it, if you are considering the costs of maintaining the exterior siding of a townhome alone, the costs are cut in half because units share walls. To get a better idea of how a townhome holds its value, come and visit our rentals in West Chester, Ohio.
Cove Visit Our Townhomes In West Chester Today
We could talk all day about how townhomes are the most sought-after style of housing, but you really won’t understand until you tour a unit for yourself.
Contact us today to schedule a tour of our West Chester townhome community.