Townhomes gain favor with first-time buyers, downsizers

Rising prices convinced Greg and Corrie Humbertson not to buy the new single-family home they were considering in Lebanon, and they’re perfectly happy about that.

Instead, the couple purchased a townhome in Gallatin and are enjoying a lock-and-leave lifestyle. Their new-construction townhome has a warranty from the builder, Ole South, and the HOA takes care of exterior maintenance, freeing them to enjoy their retirement and spend time with family.

“The location is a real gem. It’s peaceful,” Corrie Humbertson said of their new home in Nichols Place, a townhome neighborhood being developed by Ole South off Highway 109 and Nichols Lane.

Townhomes are growing in popularity with buyers of all ages. Because they cost less than similar single-family houses, they have become the new “starter home” for many first-time buyers and families on a budget. Downsizers moving from larger homes like the idea of leaving yard work and other exterior chores to the HOA.

“Townhomes are a great ownership alternative for first-time buyers and anyone looking for an opportunity to simplify life,” said Ole South Vice President Trey Lewis.

Ole South is developing attainably priced townhome neighborhoods across the Nashville region. Nichols Place is priced in the mid-$300,000s. On Nashville’s south side, The Ridge at Antioch is priced from the low $300,000s. Salem Landing in Murfreesboro is priced in the low to mid $300,000s.

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The median price of a home was $475,000 in the multi-county region in August. In January the median price was $425,000, according to Greater Nashville Realtors.

In Gallatin, Meritage Homes has launched Harbor Crossing adjacent to Foxland Harbor Marina and Golf Course on Aintree Road. Harbor Crossing will have 121 townhomes. They are expected to be priced from the $300,000s. Sales should begin next spring.

“Our townhome product has proven to have a strong appeal for a variety of buyers,” said Dave Bulloch, president for Meritage Homes' Nashville Division.

“The price point offers a great next step for renters looking to buy a home for the first time, and we have also seen an increase in empty-nesters looking to downsize and take advantage of the maintenance-free lifestyle with our high-quality, energy-efficient homes,” said Bulloch.

Harbor Crossing will feature a choice of open-concept floorplans ranging from about 1,400 to 1,800 square feet with on-e and two-car garages, granite countertops, kitchen islands and home automation.

Ole South’s Nichols Place will have 77 townhomes when complete. Owners began moving in last summer. They have 1,600 to 1,800 square feet of living space, three bedrooms and one-car garages. A Publix grocery store is nearby.

Residents were expected to begin moving into Salem Landing in Murfreesboro in October. The neighborhood, convenient to the I-24 exit at Salem Highway, is the city’s newest master-planned community. It features both single-family houses and townhomes.

The townhomes range from 1,700 to 1,800 square feet with two or three bedrooms and one- and two-car garages.

Owners began moving into their new townhomes at The Ridge at Antioch in September. The neighborhood off Hamilton Church Road is convenient to Bell Road and Murfreesboro Pike. The neighborhood will have 50 townhomes with 1,400 to 1,800 square feet of space, two or three bedrooms and one-car garages.

“The Ridge at Antioch features the lowest-priced new homes in Davidson County,” said Lewis.

All of Ole South’s townhomes come with kitchen appliances and window treatments.

Benchmark Realtor Janet Abeja was so impressed by The Ridge at Antioch that she bought a townhome for herself.

“They fit perfectly for what I was looking for. It’s a great little spot,” close to the airport and with access to downtown on I-40 and I-24, said Abeja.

Many single women choose townhomes for the price, convenience and feeling of community and security they provide, she said.

”I like the feeling that I’m close to people,” said Abeja.

This article originally appeared on Nashville Tennessean: Ole South, Meritage Homes find townhomes gaining favor with buyers