I find more people asking about detached townhomes lately, as if this is something new. Detached townhomes have been around for more than 50 years, starting as a way to keep costs in control… for initial as well as ongoing costs and maintenance. Many of the earlier detached townhomes were two-story or split entry, with cost savings coming from shared grounds including lawn care and snow removal. With small lots, more homes could be built on smaller land space and thus cost less.
‘Patio’ homes built on a slab with no basement appeared in the 1980s, often appealing to buyers with mobility issues.
The 1990s saw developments such as the one in the photo below, which is a listing of mine scheduled to close in a few weeks. The complex has a variety of styles, and also often appeals to first-time homebuyers as a less expensive alternative for purchasing a home.
As the baby boomer generation ages, one-level living is growing in popularity, with builders scrambling to meet demand. About 20% of new construction one-story detached townhomes currently listed in the MLS have a slab on grade foundation, because basements are often the choice for people downsizing from a full house… they need room to store their ‘stuff’ and host family and friends when they come to visit.
The Minnesota StarTribune contacted me for input for the article above on the growth of detached townhomes. They often appeal to people downsizing from a single-family house who don’t want shared hallways of a condominium or shared walls of a typical townhouse… it helps them maintain more autonomy.
I currently have a client who is downsizing from a large single family home, buying a detached townhome with a basement. It is in the process of being built and will be completed in about a month. She plans to close on her current home first, then use those proceeds to close on her new home.
One of the big differences between a single family home and a detached townhouse is the existence of an HOA for the detached townhouse complex. The homeowners typically purchase individual insurance for the home, as with a single family house… but also have hazard insurance and other requirements for the HOA community with a monthly fee. The fee usually includes snow and lawn care, sometimes includes trash removal, sometimes has rental and pet restrictions. Although not common, it sometimes includes shared amenities such as a playground, fitness facility and/or pool. If you are purchasing a detached townhome with an HOA, be sure to ask what is covered by the HOA fee.
Thinking of downsizing? We can help you through the process!
Sharlene Hensrud, RE/MAX Results – shensrud@homesmsp.com
