How Much Does It Cost to Build a Townhouse
Home wasn’t built in a day.
Well, at least not a large home.
Whether you’re a construction company or someone who’s thinking about building their dream house, a townhouse is an excellent option.
Their unique style and layout mean that a townhouse can be built almost anywhere. The fact that they can be built in smaller areas and can accommodate the same number of residents as a much larger home.
Townhouses come in many shapes and sizes and these come with a wide range of associated costs.
But how much does it actually cost to build a townhouse property? Let’s take a closer look.
Here’s What We’ll Cover:
What Is a Townhouse?
A townhouse is a single-family home. They are modular homes that typically consist of two floors with the bedrooms upstairs and a living area and kitchen downstairs.
Traditionally built in rows, townhouses each have two shared walls within the same row. The exceptions are the two houses on each side with single non-shared exterior walls.
Most townhouses are governed by a condo or homeowner’s association and therefore share the costs for communal areas. But each individual owner of each townhouse is responsible for the exterior of the house. This would include the grass, yard and any parking space.
The Types of Townhouse
There are generally three types of townhouses, each with different styles, sizes and layouts.
- Traditional - the most common and easily recognizable. They tend to be two floors and can have a basement and a garage.
- Stacked - Stacked townhouses are less common. They consist of one townhouse stacked on top of another. This would mean the building is 4 stories high.
- Urban - These are similar to the traditional townhouse but with a more contemporary style and layout. They tend to be a bit larger and have more of an open floor plan. These tend to be the most expensive.
The Cost of Building a Townhouse
Price Per Square Foot
Townhouses tend to have lower construction costs than most other single-family homes. They will often share common walls and the style of building means that interiors tend to be very similar. This makes building one less of a challenge and a faster process.
The average cost estimate to build a townhouse per square foot lies at around $111. For townhouses that are built in urban areas, the cost is closer to $125 per square foot.
A Single Townhouse
A townhouse of one unit, with the per square foot price considered, will tend to have a price range between $166,500 and $187,500. This price is assuming that the square footage is around 1,500 sq.ft.
This price includes the unit, finished interior and exterior, and an attached single-car garage.
Townhouses are rarely built as one unit. They are commonly built-in groups with the most common group size being four.
So if we take into consideration the average cost per square foot then the price range to build 4 townhouses would lie at around $666,000 to $750,000. This is depending on the area.
A Townhouse Complex
A townhouse complex tends to consist of around 4 or 5 units with some shared communal areas. These areas tend to be a shared yard, landscaping or some extra parking space. There may also be some shared amenities such as a community pool or a gym.
When these extra costs are taken into account, a complex can be expected to cost between $1,000,000 and $1,200,000 for the entire project.
Townhouses are a popular choice for construction companies and residents.
They are a great choice of affordable housing when you take into consideration the typical estimated price per square foot. They are quick and easy to build, and pleasant for people to live in.
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