When Tom Woods was 21, he bought his first house -- a large single family place with a huge yard in a bucolic town outside Kansas City, Missouri. But now at age 70, he says the preferences of young homebuyers are dramatically different than when he was young.

Woods, a homebuilder who’s constructed more than 3,500 houses for clients, says the choices of buyers in their 20s and 30s are now driven much more by a hankering for community and what builders call the “amenities package” than for acreage. And that means they’re willing to consider a townhouse.

“They want the swimming pool, the tennis courts and the workout facilities. They’re much more likely to get those amenities in a townhouse development than in the classic single-family home community,” says Woods, a former board chairman of the National Association of Home Builders (nahb.org).

In many areas, buyers can obtain somewhat more square footage in a townhouse than in a single-family property that’s listed for the same price. That’s because builders can construct more townhouse units on an equivalent parcel of land.

Buying a townhouse can be an excellent solution for young singles or couples who’d rather devote their time to their profession or social life than to upkeep, given that exterior maintenance is usually provided in townhouse communities. That’s also a plus for people with heavy travel schedules.

But choosing a townhouse means losing out on some of the benefits of a detached home. For instance, your backyard will be too small for a garden or much recreation.

Another negative is that you’re going to have at least one shared wall with neighbors. And you’ll probably be prohibited from painting your front door iridescent orange. That’s a factor for rugged individualists who want to personalize the home they own.

Steve Israel, a real estate broker who works solely with buyers, cautions that living in a townhouse can mean a significant loss of privacy, even if its interior walls were well constructed.

“Builders are putting a lot more sound-deafening stuff in townhouses these days than they did in the 1980s and 1990s. But you’re still going to lose privacy to neighbors when they’re outside around the exterior of your place,” Israel says.

Here are a few tips for those considering a townhouse purchase:

-- Look for a place with an expansive interior.

These days, most buyers strongly favor an open, airy, bright house. But many townhouses, especially older ones, have relatively few windows and are narrow from side to side and deep from the front door to the back, says Merrill Ottwein, a real estate broker and past president of the National Association of Exclusive Buyer Agents (naeba.org).

“Try to find a townhouse that’s wider than average. In addition, search for a place where rooms are mostly square rather than rectangular and one with oversized windows. But keep in mind that big windows usually translate to higher energy costs,” Ottwein says.

Another way to obtain a more open, airy feeling in a townhouse is to buy one with high ceilings.

“The good news is that lots of new homes of all types now have ceilings that are at least 10 feet high or higher,” he says.

-- Recognize the importance of adequate parking.

Many newer townhouses are built to give each unit a one- or two-car garage. In those cases, your personal parking needs will likely be met. But what about your visitors?

Ottwein recommends that the best way to scope out the parking situation near your townhouse is to ask those already living there.

“What you need is more than the rehearsed statements of those trying to sell you a unit in their townhouse community. You need the candid opinions of neighbors who already reside there,” Ottwein says.

-- Watch out for indications of disputes within a townhouse community.

It’s a reality that in nearly all townhouse communities, residents are bound together through membership in a residents' association. As Ottwein says, the quality of leadership in that group can make a major difference for owners.

"Be careful to avoid moving to a community where owners often confront each other with their petty disputes. Rather, you want residents who can settle their differences without becoming disagreeable,” he says.

Those in a smoothly functioning association are more likely to set aside money for major expenses, like the replacement of a roof. Otherwise, everyone living in the community could suddenly be hit with a special assessment.

To find out how the homeowners’ association in a townhouse community functions, Ottwein suggests you ask for minutes of its last three meetings to see if disputes are brewing.

“It can be terribly nerve-racking to live in a community where the residents are constantly fighting. Avoid that kind of grief and you’ll be a lot happier,” he says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

After navigating through some rough patches in their careers, a magazine designer and her journalist husband began searching for new jobs. Figuring they’d soon be moving, they decided to renovate the dated kitchen of their 1920s-era townhouse.

After calling in their favorite contractor, the couple in this true story opted for a mere facelift for the kitchen at an expected cost of $10,000. But the project quickly zoomed out of control as the homeowners added more upgrades to their list.

Before they were done, the couple’s kitchen remodel cost nearly $90,000. When they sold the townhouse just over a year later, they were able to recoup only a fraction of that expense.

Kathi Fleck, author of "Renovate, Remodel ... Relax!" is not surprised by the story. She urges owners expecting to sell within a year or two to consult with real estate pros from their area before committing to pre-sale renovations. This is an especially good idea if they’re in a hot market where willing buyers outnumber sellers.

“You don’t want to overspend on unnecessary renovations unless you’re going to stay more than five years,” says Fleck, who, with her husband, owns a 10-year-old remodeling company that often assists home sellers on behalf of agents working for Coldwell Banker realty offices.

Mark Nash, a real estate analyst and author of “1001 Tips For Buying and Selling a Home,” says by consulting a knowledgeable real estate agent before heading into a remodeling project, homeowners can often avoid major errors.

Here are a few pointers for those planning to remodel before selling:

-- Seek counsel from real estate people with expertise in your area.

“Make sure the agents you call in really specialize in your community and price range. Then ask for their honest opinions on the project you’re planning,” Nash says.

Homeowners who are unsure when they’ll move are often reluctant to ask for advice until they have a certain timetable. But Nash says good agents won’t pressure you to list your property until you’re ready.

“The idea here is to keep your eye on the prize. You don’t want to spend any money you won’t get back when you sell,” he says.

-- Don’t “over-improve” relative to neighborhood standards.

Tom Early, who twice served as president of the National Association of Exclusive Buyer Agents (naeba.org), says most purchasers are reluctant to pick up the tab for renovation work that raises a property above neighborhood standards.

“Even though many markets are now strong, buyers are still selective. They remain very focused on property values, and hate overpaying,” Early says.

What sorts of upgrades constitute “over-improvement”? For example, you’re unlikely to recoup the cost of adding a three-car garage in a neighborhood where most homes have no garage at all.

-- Avoid renovation work that reflects your personal tastes.

Nash tells the true story of an architect who owned a colonial house in a desirable urban neighborhood. Given his plans to retire and sell his high-end place, the man agreed to spend $150,000 for an ultra-modern kitchen renovation that suited his taste alone.

“What he ended up with was extremely minimalistic and included a bunch of tiny pin lights in his 12-foot ceilings. The buyers who came through thought it looked like an embalming room,” Nash recalls.

-- Bail out of renovation work that’s over-the-top.

If you think you’ve arranged for too much remodeling, Nash suggests you phone your contractors to negotiate alternative scenarios. For example, you might decide to forgo top-of-the-line kitchen and bathroom appliances and fixtures.

“Most buyers aren’t looking for the finest slabs of granite or super-brand stoves or refrigerators in the kitchen. It’s usually the overall look they want, not the famous brands,” Nash says.

Often, real estate agents can suggest less expensive products than those recommended by contractors. For instance, they might advise you to replace worn family room carpet with a generic brand.

Besides recommending alternative supplies, your listing agent may be willing to help you renegotiate the overall scope of your project.

“Perhaps you’ll face contract penalties for backing out of some of the work. But these charges will probably be far less than the cost of going forward with an ill-planned renovation,” Nash says.

-- Slow the pace of your renovation schedule.

As the architect with the ultra-modern kitchen discovered, a thoughtless pre-sale renovation can be costly. Nash says the ultra-modern design was so objectionable to buyers that he had to discount his property by 10 percent to close a deal for the house.

“People looked at that kitchen and groaned. All they could think of was how much they’d have to spend to bring it back to normal,” Nash says.

One reason the architect made his expensive mistake was that he was in a hurry to put his home up for sale and launched the kitchen redo without thinking through its implications.

“When you’re in a big rush with renovations, you’re at risk for putting a white elephant on the market,” Nash says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

Joblessness has fallen and earnings are gradually rising. But a surprising number of Americans still live paycheck to paycheck, new research shows.

The problem, according to Jonathan Morduch, a New York University professor, is that many people endure dramatic swings in income, making it extremely difficult to save for hard times and compelling some to sell their home when divorce or a health crisis hits.

In a new book, Morduch argues that an increasing number of people live in perilous economic circumstances due to what he calls “the great job shift.” This refers to the increasing tendency of employers to cut back hours unexpectedly when times are slow or to compensate more workers through commissions or tipping.

In their book, “The Financial Diaries: How American Families Cope in a World of Uncertainty,” Morduch and co-author Rachel Schneider say many people lack the means to handle even relatively minor expenses, such as an unexpected car repair bill. And a big setback, such as a cancer diagnosis or a death in the family, could compel them to sell their home.

Unless your place is located in a red-hot market where buyers outnumber sellers, marketing your home in “as is” condition can mean letting it go for a sacrificial price. That’s why it’s usually a good idea to somehow find the funds for affordable improvements.

“In a lot of markets, low-cost improvements to your property, like a fresh coat of paint or new carpet, give you a good bang for your buck. But if you’re facing a financial crisis, I’d be cautious about trying to do a big rehab to your house,” says Daren Blomquist, a senior vice president with Attom Data Solutions, which tracks real estate transactions all over the nation.

Here are a few other pointers for cash-tight sellers:

-- Seek out help to purge your home of clutter.

One of the most crucial steps in preparing a property for sale -- ridding it of excess furniture and accumulations -- is also one of the least expensive, says Vicki Norris, a former real estate agent and author of “Restoring Order to Your Home.”

“Chaos and other people’s stuff are instant turn-offs to buyers,” says Norris, who runs a professional organizing firm.

However, to execute an effective de-cluttering plan, many homeowners need a support structure to gain momentum and keep on track.

For guidance at a fair price, you can hire one of a growing number of professional organizers. You can search for one in your area through the website of a group such as the National Association of Professional Organizers (napo.net). Or you can turn to a friend or family member willing to help sift through your possessions.

-- Give priority attention to minor kitchen upgrades.

Sid Davis, a veteran real estate broker and author, says your kitchen should be the focal point of your pre-sale home improvement program, but that upgrades in this part of your property needn’t be as pricy as many imagine.

“Some of the most important projects cost around $1,000 to $2,000 each,” says Davis, author of “Home Makeovers That Sell.”

Davis urges cash-challenged home sellers to “triage” in the kitchen, focusing on the projects in greatest need. One typically involves improvements to kitchen cabinets, “which very often have accumulated years of dirt and grunge.”

“If you have wood cabinets, you can make them look a lot better through a thorough cleaning with Murphy Oil Soap, followed by a rub-down with lemon oil. If that doesn’t do the trick, sand and re-stain your cabinets or paint them in a high-gloss white. Also, be sure to add new hardware, which shouldn’t cost you more than $50,” Davis says.

Another low-cost kitchen improvement involves replacing worn flooring. Davis says the skills needed for this task are easily acquired through a class offered at a home center store or online.

“Vinyl flooring is the cheapest, but the price for a nice tile floor has come down dramatically,” he says.

-- Recognize the importance to your sale of a fresh coat of paint.

One proven strategy for adding appeal to your interior is to paint the walls and trim throughout. For advice on painting technique, consult the websites of major paint companies, or borrow a manual or video on the topic from the library.

“The only major element to a good painting job involves solid preparation -- mainly sanding and surfacing -- and attention to detail. You can do it yourself, and that’s a lot better than hiring a high school or college student,” Davis says.

-- Look for low-bid contractors for the most difficult projects.

Are you a homeowner with limited funds to pay contractors for complex or potentially hazardous pre-sale repairs? Even so, Davis urges you to resist the temptation to do this work yourself.

To make the most of your scarce resources for home improvement work, Davis recommends you seek three to four competitive bids from contractors who come highly recommended.

“In every economy, contractors need to keep their crews working,” he says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)