• Price: In general, townhomes and carriage homes are less expensive than single-family houses. But they still offer much of the space and flexibility you’re probably looking for. But keep in mind that most townhomes also include monthly HOA fees to cover things like landscaping, plus any other amenities in the community. • Flexibility: Besides the price factor, townhome living tends to give you more flexibility. It has the added benefit of the low-maintenance lifestyle that comes with condo or apartment living, but generally includes more space, as well as more flexible options when it comes to function (such as parking spaces) and leisure (backyards for private or semi-private entertaining). • Practicality: Sometimes, it’s the more practical option. For example, a downtown three-bedroom townhouse might actually be a better investment option than the little two- bedroom house down the street. • Community: Townhouse living can also offer a similar sense of community to an apartment, but generally with more privacy and fewer neighbors. However, many homeowners would prefer to move into a condo or apartment, and there are many solid reasons for that, which we’ll take a look at in the following chapter.
Key Takeaway:
Thinking about where you would like to live when downsizing is a big decision, as there are many options to consider. We’ve looked at the benefits of choosing a smaller single-family home or a townhome, which can offer things like independence, privacy, pride in homeownership, space for family, and savings on utility bills. 21
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