Townhomes and Apartments: Millennials and their Housing Preferences
What is a townhome?
The word townhome is often used interchangeably with townhouse, and in contemporary usage in the US and Canada denotes a semidetached home which is connected to another home along one or more sides. A townhouse does not have to be located in a highly urbanized area, however; the term refers to a style of housing, rather than its location or ownership.
Townhome v. apartment: which is better?
Townhomes are generally multi-floor residences, with their own separate entrance and yard, front and back. A townhouse generally makes up a single dwelling unit. Apartments are generally refer to a residence consisting of a connected set of rooms, which have access to the outside through a shared hallway. There may be two or more apartments in a building. See Village Green Apartments for more information about townhomes.
In comparison to apartments, townhouses offer more privacy and space, as well as access to outside space such as a yard or patio. An older distinction used to be based on ownership, since townhouses tended to be owner-inhabited while apartments were generally rented. These distinctions are now breaking down, and it is possible to rent townhouses as well.
The greater flexibility in the rental market might well be a consequence of the housing and economic crisis, as people who have lost their homes or who need to move to find new jobs seek rentals for themselves and their families.
Should you rent a townhouse or an apartment? Ultimately the choice between renting a townhouse or an apartment depends on the renter’s particular needs. A family that needs more space as well as a yard for children and pets may choose a townhouse over an apartment. More space of courses comes with the requirement of more time spent in keeping a large space clean and tidy.
Apartments are more suitable for single professionals, who may be too busy to maintain a large space and who may not need that much space anyway. Access to outside space – a yard or patio – is highly valued by apartment dwellers and consequently commands premium rates.