Why Townhomes and Single Family Homes Differ Dramatically
Cost Considerations and Financial Implications
From a financial perspective, townhomes generally offer a more affordable entry point into homeownership. According to the National Association of Home Builders, the average cost of a townhome is often lower than that of a single-family home due to the reduced land costs and shared construction expenses1. Furthermore, townhome owners might benefit from lower property taxes and insurance premiums, thanks to the smaller lot sizes and shared amenities. However, it's essential to consider homeowners association (HOA) fees, which can add to the monthly expenses but also cover maintenance and community services.