Patio Homes have become super popular with baby boomers in the past few years. They are the perfect place to retire and enjoy “maintenance free” living.
Sounds just like condos. But there’s a difference. Let me explain …
Patio Homes
Patio Homes are single-family homes that sit on an individual, tiny lot. The homeowner is responsible for both interior and exterior maintenance of the building, as well as utilities (water) and property insurance. The association cuts the grass, takes care of snow plowing, and maintains other community amenities.
Epcon is one of the largest developers of patio homes in Central Ohio. They just started construction on The Courtyards on Riverside a community of 81 upscale ranch homes. Phase 1 of the development is already sold out.
The typical Epcon patio home on Riverside has 2 bedrooms, 2 bathrooms, a 2.5 car garage and is between 2,000 and 3,000 sqft large. Prices starts at just below $400,000.
Condominiums
Condominiums share the parcel of land they are built on. When you buy a condo, you own the interior of your property and you become part owner of the land. Condos usually share walls with neighboring units.
There’s a master insurance policy for the community. This means you don’t need to buy individual property insurance. The condo association is responsible for exterior maintenance and roofs, as well as the lawn, snow plowing and other community assets, such as a clubhouse, fitness center, and swimming pool.
Condo fees include your property insurance as well as water and trash service.
The newest condo development in Dublin is Bridge Park. Crawford-Hoying is building 3-story, luxury townhome condos listed for $600,000 to $800,000 – that’s for 2,300 sqft.
Free-Standing Condos
Free Standing Condos are individual homes that share the parcel of land they are built on. They are similar to patio homes when it comes to property insurance and exterior maintenance. That’s the owner’s responsibility.
The difference is that you do not own the land.
One of the few Free-Standing Condo developments in Dublin is Coffman Park by Romanelli & Hughes. They offer a variety of home styles with around 2,500 sqft, 2 bedrooms and 2 bathrooms starting at $400,000.
Both condo fees and community fees for patio homes range anywhere from $200 to $500 per month.
Why Developers Embrace Patio Homes
Developers are focusing on patio homes for two reasons:
- High Demand by baby boomers who want to sell their suburban residence and enjoy low maintenance living in an upscale community without having to worry about the yard. They also prefer their living space and master bedroom on the first floor.
- High Density Construction allows builders to generate more revenue on smaller lots. Patio homes are as expensive as regular single-family homes. However, developers can build three times as many patio homes on the same plot of land.
Looking to Buy a Condo?
If you want to buy an affordable condo in Dublin, Hilliard or Powell you need to look at existing properties, like the one I just listed on Meadow Run Drive in Hilliard!
Existing condos are an excellent value. You can still buy them between $200,000 and $350,000 in Northwest Columbus. That’s why they usually sell quickly.
Call or text me TODAY at (614) 975-9650, I can help you buy new-built patio homes or existing condos!