A section of the housing market across Fayette County is heating up as prices continue to rise and inventory remains low.
“I think townhomes are a smart investment for builders also,” said Lexington realtor Christina Dudek. “As we face this affordable housing crisis we have, and this inventory crisis we have, a townhome is a good answer to those,” she continued.
And Dudek believes the trend isn’t going away anytime soon.
“We’ve seen new builds of townhomes on the rise above single-family homes,” Dudek said. This will help keep the inventory strong while keeping prices substantially lower than those of single-family homes.
With a townhouse, a buyer gets the benefits of home ownership, including the mortgage interest tax deduction, without many of the hassles or expenses an owner can encounter with a single-family home.
“We have a lot of over 55 baby boomers who are purchasing townhomes,” Dudek said. “They want to stay close to family in Kentucky but maybe also live in a warmer climate, so then they don’t have maintenance (of a home), which is a huge issue,” she added.