Navigating the 2024 Housing Market: Why Townhomes Are a Top Pick

Navigating the 2024 Canadian housing market is…daunting, to say the least! But one aspect is actually simpler than you think, the style of home to buy!

Townhomes are a standout not only for their versatility but also the value. Buying a townhome in Canada in 2024 can offer a blend of suburban comfort and urban convenience, making them an attractive choice for modern living. Let’s take a look at the reasons behind their appeal and why they’re a great choice for your next home!

What to Expect: 2024 Canadian Housing Market

As we all know, the housing market forecast has been keeping us on the edge of our seats long before 2024, and with 73% of Canadians stating high rates are keeping them from even looking for a home…You might be wondering what to expect!

From what we’re seeing, we can expect rates to hold steady until around mid-March, when we will see a steady decline into 2025. These lower interest rates are going to greatly increase purchase activity not just for Calgary homes but from coast to coast!

Another consideration is, of course, availability. Let’s take a look at how townhomes can offer an affordable home ownership option amidst the competitive Canadian housing market, providing a balance between space, amenities, and cost effectiveness.

What is a Townhome?

Within the 2024 Canadian housing market, there’s a gem that’s stealing the spotlight: townhomes. But what exactly is a “townhome”?

Picture this: a cozy home nestled in a row of similar houses, sharing walls but each with its own unique vibe. That’s a townhome! Think of it as the perfect blend of apartment living and a detached house, giving you the best of both worlds.

Why are townhomes gaining such popularity in the 2024 housing market predictions for Canada? Well, it’s simple, really, with previous housing prices at an all-time high, townhomes offer a sweet spot of affordability without skimping on space or comfort.

Why Buy a Townhome in Canada?

Townhomes often come with amenities that might be lost if purchasing a standard home. For example, communal parks or playgrounds. Additionally, most townhomes in Canada have services covered, such as lawn maintenance and upkeep.

In Calgary, the average home price is around $570,000 however, townhomes are approximately $140,000 less than the average single family home price! So, why should you care about townhomes in the 2024 Canadian housing market?

Because they’re not just a place to live, they’re a lifestyle upgrade. Whether you’re a first-time buyer, a growing family, or someone looking to downsize, townhomes are versatile and affordable.

Tips for Buying Townhomes in Canada in 2024

Before you grab your new set of keys, there are some things you need to consider. Like we keep saying, townhomes in Canada are great! But…You should always do your due diligence before making a purchase, especially your home.

Here are some tips to help you succeed:

Define Your Needs: Before diving into the market, make a list of your must-haves and nice-to-haves. Consider factors like location, size, amenities, and budget. This will help you narrow down your options and focus your search.

Research the Market: Take the time to research the housing market in the specific area you’re interested in. Look at recent sales data, trends, and forecasts to get a sense of pricing and demand.

Plan for Closing Costs: In addition to the purchase price, budget for closing costs such as legal fees, land transfer taxes, and moving expenses. Having a clear understanding of these costs will prevent any surprises on closing day.

By following these tips, you can navigate the process of buying a townhome in Canada with
confidence and find the perfect place to call home.

Cedarglen Living: A Testament to Townhome Excellence:

At Cedarglen Living, we understand the appeal of townhome living and strive to provide our residents with exceptional homes and communities. Our thoughtfully designed townhomes offer modern layouts, high-quality finishes, and a range of amenities designed to enhance everyday life. Located in desirable neighbourhoods with access to schools, shopping, dining, and recreation, our communities offer the perfect blend of convenience and comfort. 

Whether you’re a first-time homebuyer, growing family, or empty nester, townhomes offer an attractive housing solution that meets a variety of lifestyle needs. As you navigate the 2024 housing market, consider the benefits of townhome living and discover why it’s a top pick for discerning home buyers across the country.

Ready to explore townhome living?

Contact Cedarglen Living today to learn more about Seton Serenity and find your perfect home.