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VERSATILITY EARNS TOWNHOUSES STAR BILLING
IN CITY AND SUBURBS, SAY RE/MAX AGENTS

Townhouses continue to prove their value to a wide cross-section of homebuyers by doing many things well.

A major reason for their admirable versatility, notes Jim Merrion, regional director of RE/MAX Northern Illinois, is that townhouses come in many shapes and sizes. "What townhouses have in common is that they are low-rise attached homes, but when it comes to plan and appearance, a wide variety of styles is available, with new variations evolving continually," says Merrion. "For this reason, many different names are used to describe the results - townhomes, townhouses, row houses, duplexes - and the list goes on."

For years, townhouses always were attached units set side by side, so that the residents never had an upstairs neighbor. Now, some developers are stacking townhouses on top of one another. Townhouses usually run from 1,100 to 4,500 square feet and can be one, two, three or even four stories high. They appeal to buyers in almost every category - singles, young couples, families with children and empty nesters. They offer more space than most condominium apartments, yet are usually less expensive than comparably sized single-family homes, notes Merrion.

The percentage of townhouses in the market varies widely by community. During the last six months of 2003, for example, townhouses accounted for 60 percent of the 528 attached homes sold in Naperville and 30 percent of the 306 sold in Lombard, but just 8 percent of the 4,237 sold in the Chicago neighborhoods of Lake View, Lincoln Park and the Near North Side where condominium apartments dominate the market.

According to Susan Camiliere of RE/MAX Central in Roselle, Ill., few buyers arrive in her office specifically looking for a townhouse. "What moves them toward that choice is a matter of their priorities. Buyers frequently begin by looking at all the types of housing in their price range; then they focus on the type of property that most precisely fills their needs," she says.

In her market, for example, buyers often can choose between an older single-family home and a newer townhouse for about the same price. The home they choose is a function of their priorities. "If they have a child or two and need a yard, they will go with the older single-family home. If they don't have children or if the children are older, they may prefer the townhouse," says Camiliere.

Fifteen years ago or so townhouses appealed primarily to young buyers as an inexpensive alternative to a single-family home, today new townhouses are as likely to be aimed at upscale empty-nester buyers as at a young buyers seeking their first home.

A major factor that drives city buyers to select a townhouse rather than a single-family home, says Matt Boemmel of RE/MAX Exclusive Properties in Chicago's Lincoln Park neighborhood, is the combination of higher security and low maintenance responsibilities that townhouses offer. "Many city townhouses are in gated communities, which provide a greater sense of security for homeowners. Those same communities often have professional management taking care of the maintenance, which is especially attractive to owners with demanding careers," Boemmel says.

Indeed, most townhouses, though not all, are owned as condominium units and are part of a homeowners association. "A few townhouses are sold as fee simple properties, just like a single-family home. In those instances, the buyer purchases not just the unit, but also the land under it," explains Bill White, an agent with RE/MAX Affiliates in Naperville.

However, since most townhouses are condominiums, it's important for buyers to evaluate just how well the homeowners association does its job and how comfortable they will be with the association's rules. Adjusting to the restrictions imposed by an association is often more of a concern for empty nesters than for younger buyers, contends White.

Moving to a townhouse community from a single-family home means that the neighbors may be a little closer than you are used to, and there are limitations on what you can do with your patio, but usually the problems are minimal. Still, it is smart to look at the rules before you buy and to assess whether the association is doing a good job maintaining the property.

Here are some of the factors that make townhouses more saleable:

  • Parking for at least two cars or more
  • End units because they typically are quieter and have more windows than townhouses that are attached on two sides
  • Basements, even though they are uncommon
  • Access to shopping and to transportation, such as an expressway, commuter train stop or an elevated line
  • Units with at least three bedrooms and two baths
  • Part of a gated community



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