Townhomes: A Smart Solution for Today’s First-Time Buyers
Buying your first home in today’s market can feel tough. Between high home prices and mortgage rates, affordability is still a big challenge. And some buyers are making one simple trade-off that’s getting them in the door faster: square footage.
According to the National Association of Home Builders (NAHB), 35% of buyers are willing to purchase something smaller to make homeownership happen. And one place you can usually find a smaller footprint (and sometimes better affordability) is in townhomes.
Why Townhomes Are Gaining Popularity
Townhomes typically cost less than single-family homes due to their more limited size. And that’s a big plus for today’s budget-conscious buyer. As Realtor.com says:
"In today's market, affordability remains a key priority for homebuyers, making townhomes an attractive option because they are often priced more reasonably than single-family homes. It makes them especially appealing to first-time homebuyers on a tighter budget . . ."
So, if you're trying to buy but feeling stuck because of rising prices, shifting your focus to townhomes could be one way to get into homeownership without maxing out your budget.
Builders Are Responding to the Demand
Builders have seen buyers’ appetite shift to smaller homes, and they’re adjusting to meet the demand. As Joel Berner, Senior Economist at Realtor.com, explains:
"Builders are making a concerted effort to provide smaller, more affordable inventory to the market in a way that the existing-home market cannot. Townhomes are a significant portion of that effort."
And the numbers back it up. According to data from Realtor.com, townhomes now make up a bigger share of new construction listings than they did just a couple of years ago (see graph below):
That means, if you’re interested in this type of house, you have more choices than you would have had over the last few years. And more options that are potentially more affordable are definitely a good thing. It should make your search for your first home a bit easier.
Is a Townhome Right for You?
If you’ve been focused only on more traditional homes with their own yards, an agent can help you explore whether a townhome could work for you. Who knows, you may find out you love the lifestyle. A lot of people do. As an article from the National Association of Realtors (NAR) explains:
“Townhomes tend to cost less than single-family detached homes and can be appealing to young professionals who may desire medium-density, walkable neighborhoods.”
That’s because they’re lower maintenance, they can provide a sense of community with other residents, and they have their own unique amenities. Not to mention, they give you the chance to start building wealth through homeownership without the upkeep that comes with having your own detached, single-family home. And that can be great for first-time buyers who are a bit worried about the maintenance anyway.
But they also come with some other considerations, like dealing with noise through shared walls. If you’re a renter right now, maybe you’re used to that already. But these are the types of things you’ll want to think about. And that’s where an agent’s expertise comes in. They’ll help you weigh the pros and cons, so you understand how a townhome fits into your lifestyle and long-term goals before making your decision.
Bottom Line
If you're struggling to find a home within your budget, it may be time to expand your search and consider options you haven’t before, like townhomes. Sometimes, compromising a little bit on space is worth it to get your foot in the door.
What matters most to you — space, location, or budget? Let’s figure out where you can flex to make homeownership happen.
🏘️ Why Townhomes Make Sense in Northern Colorado Springs
If you’re a first-time buyer in 80921, 80908, or 80132, a townhome could be the perfect stepping stone into homeownership—especially in today’s high-cost market. Here’s what you need to know about how townhomes are performing in our area and why they’re growing in popularity.
📊 Inventory Snapshot: 51 Townhomes and Counting
There are currently 51 townhomes actively listed in our area. Popular communities include:
• Victory Ridge in 80921 — walkable, amenity-rich, and centrally located
• Aspen Meadows in 80908 — nestled in a scenic corridor with open space
• Walters Commons in 80132 — a quiet, connected community in Monument
Most newer master-planned communities now incorporate a mix of housing types, meaning more chances to find a modern townhome with community amenities and walkable convenience.
💸 Value by the Numbers: Townhome vs. Single-Family Median Prices
|
ZIP Code |
Townhome Median |
SFR Median |
|---|---|---|
|
80921 |
$467,000 |
$795,000 |
|
80908 |
$422,000 |
$685,000 |
|
80132 |
$380,000 |
$740,000 |
With median list prices 30–50% lower than single-family homes, townhomes clearly offer affordable entry points—especially for first-time buyers trying to keep monthly payments manageable.
🏡 What Buyers Love About Townhomes
In Northern Colorado Springs, we’re seeing strong demand for townhomes among first-time buyers and active professionals for a few key reasons:
• ✅ Affordability compared to detached homes
• ✅ Walkability to restaurants, retail, and entertainment (especially in Victory Ridge)
• ✅ Low-maintenance lifestyle—a big win for buyers who travel, commute, or prefer minimal upkeep
• ✅ Faster sales — Townhomes spend an average of 43 days on market, vs. 52 days for SFRs
⚠️ What Buyers Should Consider
While townhomes offer many benefits, they come with a few potential trade-offs:
• 🔊 Shared walls can impact privacy and noise levels
• 🧾 HOA special assessments—while infrequent, they can lead to surprise costs
• 📦 Smaller square footage and no private yard might not suit all buyers long-term
That’s why it’s essential to work with a local agent who can guide you toward the right community, builder, and price point for your goals.
🧭 Local Expert Advice: Is a Townhome Right for You?
Ask yourself this:
Is your top priority price, location, walkability, or low-maintenance living?
Once you know what matters most, your agent can help narrow down townhome communities that meet your lifestyle—and show you move-in ready options that get your foot in the door without breaking the bank.
📩 Ready to explore townhomes in Northern Colorado Springs?
Let’s connect and find the one that fits your life—and your budget.
