Patio homes have been around since the 1970s; however, it is not a term I had heard before. So I decided to find out what is a patio home.
They are popular with young and retirees as they offer affordable, low-maintenance living. Today we will explore what a patio home and its benefits are.
What are Patio Homes?
A patio home is a type of home that shares at least one wall with another house. These cluster homes are built in groups of two to four homes. This cluster of single-family homes shares a common outside area. The exterior maintenance is taken care of by the homeowners association for a fee.
Patio homes often are a gated community with a small compact yard and a larger shared green space. They have shared facilities like a fitness center, tennis courts, and swimming pools.
What is the Difference Between Patio Home, Condo, and Townhouse?
Patio homes, condominiums, and townhomes are quite similar, but they have some ownership and upkeep differences. They each have at least one shared wall, shared common areas, but they differ in homeownership and fees.
When you buy a condominium, you buy the building only and have fractional or no ownership of the land. With a patio home, you will either own a fractional interest in the lot on which the lot home was built.
The difference between a townhome and a patio home is the size of the building. Townhomes tend to be taller than two stories with a small private garden. Whereas a patio home has one to one and a half floors, it is smaller than a townhouse.
Benefits of Buying a Patio Home
If you are looking for a reasonably priced home and easy to maintain, patio home communities could be for you. Many patio home developments have excellent community amenities included in your monthly fees. The shared common areas give home buyers a low maintenance lifestyle at an attractive price point.
Most people buy a patio home when it is new. However, when you are buying an older patio home, you know it has been well maintained. Check with your realtor about the rules of the community to see what maintenance is required.
Downsides Of Buying a Patio Home
There are some downsides to buying a patio or garden home. Being part of a community can limit what the homeowner can change with their home. Home ownership comes with rules in patio home communities. These rules can be quite strict. Many communities will have standards for yard maintenance and enforce rules to keep the community looking its best.
As you will be living as part of a community, you must make sure the community suits your lifestyle. You don’t want to join a community that is not right for you. Check with your real estate agent about the community before you buy it.
Who Should Buy A Patio Home?
Patio homes are popular with young families and older couples. Young families are attracted by the lower price point and shared facilities (gymnasium and swimming pools). Older couples (empty nesters) often look at this housing option when they downsize.
Patio home communities tend to cater to one of these groups. Check with your real estate agent to make sure you choose the right development. You often hear developments called a retirement community when they are focused on older owners. Active adult communities are more focused on younger couples and families.
The term patio home refers to a single-family home with at least one common wall with another home. Often called a garden home, they have low exterior home maintenance as the homeowner association handles outdoor maintenance.