The once no-frills townhome has undergone dramatic makeovers and is finally ready for its close-up. Across the country, builders are rolling out luxury townhomes with increased square footage to emulate the space and feel of single-family detached homes.
“There are plenty examples of townhouses being built as luxury homes,” says Robert Dietz, chief economist for the National Association of Home Builders. “You’ve got your four-story townhouses, particularly in high-cost metro areas,” he says.
NAHB consumer preference data suggests that like prior generations, Gen-Xers and Millennials desire homeownership, and for a variety of reasons, townhomes fit the bill.
“They want a suburban-type feel, but the one thing that may have changed, particularly for Millennials, is they want a little bit more walkability,” says Dietz. “So the townhouse development sort of checks the box.”
THE TERRA TEAM
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