The housing market in Ohio is very hot right now. Many homes are being sold and--being sold above list price--as the demand is up. House hunting in that kind of housing market is extra stressful, which, in part, has led to townhomes becoming an amazing option for first-time homebuyers and beyond. Townhomes occupy the middle ground of housing between owning a condo and owning a single-family home, combining parts of each experience that results in an affordable living space with lots of perks. 

Read on for more information about:

• The defining characteristics of a townhome, and how it differs from a condo and a single-family home.
• What factors have led to the rise of townhome popularity and construction.
• Why you should consider buying a townhome in Ohio.

What is a Townhome?

Townhomes occupy a space between the apartment and condo-style and the detached home. This gives them a lot of excellent factors, as they combine some of the pros and cons of living in each one. Townhomes in Ohio are being built to high standards, incorporating modern designs, appliances, and amenities. Townhomes, while almost always less expensive than single-family homes, also occupy a varied price range, leaving you room to set a budget that works for you. 

When you are looking for a new home, it is important to know what features to expect, and which to look out for. Here are some of the main features of townhomes in Ohio.

Features of a Townhome

The defining feature of a townhome is that it shares at least one wall with a neighboring unit and when you purchase a townhome, you own the land it is on. Due to their close proximity to other buildings, townhomes often do not have much lawn in front or behind them, although the specifics vary between units. Townhomes differ from detached homes and condos in a variety of ways, giving them a unique spot (and many benefits that contribute to their popularity) among real estate options. 

Some main features of a townhome are:

• HOA Fees. Homeowners associations often take an active role in maintaining your townhome with outdoor maintenance, and there is usually a mandatory fee for their services. 
• Community. Townhomes are built next to one another, so you are very close to your neighbors. That combined with the shared amenities makes it easier to get to know your neighbors.
• Amenities. Since townhomes are often built with many in a small area, the builder often adds amenities available to all residents. These vary from place to place, so make sure to check out what amenities come with the townhomes you are looking at! 
• Shared Walls. What defines townhomes is that they share walls with their neighbors. This leads to less privacy and is one reason that townhomes can be less expensive, as the construction is easier and takes up less space. 

Townhome Versus Condo

A condo is usually a unit you own within a larger building, similar to an apartment but instead of renting it, you own it. Condos are often a single unit in a larger building, but there are different types of condos to choose from. As the owner of a condo, you don’t own any land the building is on or any communal space outside of your unit. One similarity between condos and townhomes is in a fee, usually to a homeowners association, or something similar. In a townhome, these fees often cover communal maintenance like landscaping, lawn care, and other specifics depending on the association. If you are buying a townhome, make sure to check what your HOA fee covers! 

A condo’s HOA fee is usually greater and covers more maintenance. The HOA will always cover all of the exterior maintenance, and often some interior maintenance as well. Both townhomes and condos are part of communities, and those communities come with amenities. These amenities vary, but common ones are laundry facilities, pools, outdoor green spaces, and fitness rooms. 

The biggest difference between a townhome and a condo is owning the property. When you own a condo, you are the owner of your living space, but that is it. When you own a townhome, you own the land it is on, as well as any landscaping or yard in front and behind your home. 

Townhome Versus Detached House

A detached home is one that does not share walls with any other units. Of the three types of homes, detached homes probably have the most variance in the size of house and size of land, but they have some general differences from townhomes. While HOA fees are a recurring cost in townhomes, they are much less frequent with detached homes. There is often less of a community around detached homes, as there is more distance between neighbors, and there are usually not any amenities in the community. 

What Makes Townhomes so Popular?

Townhome popularity has risen for a number of years, meaning now, in Ohio, there is a consistent stream of newly-finished townhome developments popping up around the major metropolitan areas. This would not be possible without their commercial success over the years. People love townhomes in Ohio for a number of reasons. They offer more affordable options for living while retaining a lot of the pros of owning your own home. 

Townhomes are a High-Quality, Affordable Option for Living

Townhomes have a variety of factors that make them as popular as they are today. There are pros and cons to townhomes as there are to condos and detached homes, but some of the biggest factors that influence the townhome’s rise to high-quality and affordable living are: 

Costs

Townhomes are usually less expensive than detached homes since townhomes are easier to build and take up less land. That means a developer can fit more units on the same total amount of land and they can construct the units at a lower cost than if they were constructing detached homes. These make townhomes cheaper to purchase, opening them up as a more affordable option when looking for a new home. 

Another big factor in lessening the cost of owning a townhome is the maintenance costs. While you have to pay an HOA fee, it comes with its benefits. Alongside that, since townhomes only have a small lawn (if any), landscaping and lawn care incur only a small cost. As townhomes share walls, they are somewhat insulated from the weather and are easier to heat and cool, as well. 

When looking to find an affordable home, townhomes are an amazing place to look. 

Less Upkeep

When owning a property, there will be costs to upkeep and maintain the land you own. In a townhome, this time you have to spend maintaining your home and property is cut by the work the HOA puts in. While their specific duties depend from community to community, it is common for them to assist with your exterior home maintenance. The less maintenance you have to do the more time you can spend enjoying your home! Whether it is relaxing, spending time with friends and loved ones, or exploring the town, having more time on your hands is a great part of owning a townhome! 

Increased Availability

Townhomes are very popular. And, importantly, they have been popular for some time, so there are a lot of built townhomes in Ohio. When they first gained popularity, constructions started on a lot of townhome communities all around Ohio, and now, a lot of those constructions are complete! You can check out available townhomes (or multi-family homes) here.

Townhomes are a great choice for first-time homebuyers, as the housing market can be unforgiving. When moving, townhomes are a great upgrade from renting an apartment or owning a condo, and townhomes are also a great way to downsize from a single-family home if it is getting difficult to maintain. 

Varied Locations

As townhomes have grown in popularity, their locations have increased! Since they occupy so much less space than detached homes, townhome communities have developed near a lot of urban centers. Their urban locations make the townhomes central to a lot of city amenities, and finding the right spot can help drastically reduce your commute to work. Having a short commute to work is a huge benefit when you are going back into the office. 

And a short commute isn’t all that a great location gives you! Access to the city’s downtown with restaurants, bars, arts, healthcare, and being close to public transportation are huge boons when it comes to finding the right location. Since townhomes have been, and continue to, be constructed around cities there is a good chance you can find one that’s right for you! 

Townhomes are Appealing to Many Age Demographics

The popularity of townhomes is, in part, due to how well they appeal to different demographics. On one hand, townhomes are popular amongst young professionals who are moving out of their rented apartments and are first-time homeowners. Townhomes are also a great option for downsizing and moving out of a single-family home. That allows an older age group to move to a smaller home that is much easier to maintain.

Reasons to Buy a Townhome in Ohio

Builders and buyers are favoring townhomes in Ohio. The increased popularity has resulted in a large number of stunningly beautiful units being constructed. Image courtesy of Realtor Magazine.

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Looking to move? Moving to a townhome is an excellent option. They are affordable places to live with a ton of benefits, and their popularity in Ohio has resulted in a lot of new constructions and communities. Now is a great time to buy a townhome in Ohio, as it is a great investment while leaving room for plans to change down the line. 

A Stepping Stone to Your Forever Home

It is growing more and more common to move multiple times in your life, going between apartments and rented places, and multiple owned homes as well. In that case, spending a number of years in a townhome can be a great fit for your lifestyle. As a first-time homebuyer, looking at the housing market can be overwhelming and discouraging, and while purchasing a townhome is by no means easy or stress-free, there are benefits to looking at townhomes instead of detached homes. 

The four main reasons we talked about above contribute to both the popularity of townhomes and lessen the stresses of searching for the right one. As the owner of a townhome, you can enjoy the benefits of owning rather than renting, and, in the future, if you are looking to move you have experience in the home buying field. Or, who knows, maybe you’ll love it so much that your townhome becomes your forever home! 

New Construction in Ohio

Another reason to buy a townhome in Ohio — lots of them are new! With so much construction happening over the last several years, you can avoid the problems that come with a fifteen or twenty-year-old home. Expensive maintenance like replacing the roof, the pipes, and the HVAC of the home are all major problems that occur to older homes at some point or another. Since these townhomes are new, they should not be problems you have to deal with! 

Are You in the Market for a Townhome? 

Ohio is a great place to search! There are a lot of big metropolitan areas with amazing communities, amenities, and townhomes for sale. There will always be a lot of factors weighing in on the decision of whether or not to purchase a home, and it is important to consider the pros with the cons. What are your favorite reasons for loving townhomes in Ohio? Let us know in the comments!