Older and first-time homebuyers may find the right fit in newly constructed patio homes
Baby boomers have not moved out of their family homes at the same rate the generation before them did, making fewer existing houses available to buy. Meanwhile, rents in southwestern Ohio and Northern Kentucky have increased with the higher demand, to the point where it is now less expensive to buy your own home than to pay monthly rent for an apartment.
As such, new construction may now be the best way for people to find a home they can afford with the amenities they desire.
Sham Reddy, president of the Dayton Area Board of Realtors, admits, “there is a real shortage of existing homes for sale in the $150,000 to $350,000 price range.”
But Reddy adds that home ownership is both still possible and more desirable than renting. While the average age of first-time homebuyers has creeped up to 35 years old from 31 a decade ago, pressure has been placed on homebuilders to construct houses that fit the needs of these prospective buyers.
One solution to finding a home that fits these buyers’ personal housing needs both in space and price could be a new patio home. Fischer Homes offers several designs of patio homes with many customization options.
“We’re seeing young professionals who work a lot of hours, travel with their jobs or work from their residence and like the low maintenance aspect,” says Heather Kuth, new home sales counselor for Fischer Homes. “Newly single or widowed people with or without a child full time find these homes (fit) their needs. Baby boomers who are shedding their big nest for a smaller one they can travel from like the convenience and privacy.”
A typical patio home floor plan has two bedrooms, two full baths and a two-car garage. Some also offer basement and loft options, as well as enhanced outdoor spaces.
A reasonable homeowners association covers a range of services, meaning you don’t have to worry about yard work, but “you can add as much or as little to your garden as you’d like,” Kuth says.
“So, it’s right size versus downsize,” she adds. “Homebuyers who need less space but want to keep high-end finishes, as well as those who want to upgrade from an apartment or townhouse but don’t want to worry about the yard work and other maintenance.”
Three Fischer Homes communities that offer patio homes in the Greater Cincinnati area are Prestwick Place in Pierce Township, Watercrest at Landen in Deerfield Township and Providence in Hamilton Township.
“We’ve located these in metro areas with convenience to shopping, dining and recreation,” says Kuth. “The communities offer resort-style living, including pools, cabanas, walking trails and more.”