Purchase price
While there will be some variation in the price based on location, townhomes offer a much more affordable way to own a house. Since the purchase price is lower, your mortgage is lower and thus more affordable, and following that, it might even give you room to save too.
Townhomes are often part of a community, and there might be fees payable to them, so factor that in.
So what are the benefits of choosing a townhome?
Space
Townhouses come with a lot more space than the average condominium, and while that is reflected in the price, it can be surprising just how much extra space it really is. You’ll enjoy a multi-level home, a great living room, kitchen, bathrooms, nicely sized bedrooms, and depending on the style; you might get a basement too.
It’s not just inside space you can enjoy; you might have balconies, terraces, garages, driveways, and a front and back yard.
Privacy
You will be sharing either all of your walls or most of your walls with people around you, but you will have a lot of privacy. Since the vertical is yours, you aren’t going to risk running into anyone when you are trying to go and run errands – and you certainly won’t have those noisy upstairs neighbors either.
Amenities
If the townhouse is managed by a company, you are likely going to find some of the best and most well-kept amenities around. Pools, tennis or squash courts, play areas, community centers, and even gyms.
These areas are well kept, often updated, and give you a chance to know your neighbors better too. This is a huge quality of life improvement and means that you will be comfortable with the people around you and your family.
Maintenance
Not everyone is looking for a fixer-upper; some people prefer to have a home that is ready to move into and doesn’t require extra work. Not only that, but they don’t really want to do things like shovel snow, clean gutters, and other things. Townhouses that are in managed communities can often benefit from a set of services that include cleaning the area, general repairs, snow shoveling, and more.
You’ll need to check which things you can get and what the cost is for them.
Many people purchase a townhome with the idea that they will live there for a short while but eventually move on and rent the home out. Townhouses have a high rental potential, and this is just another of the benefits that you can enjoy when you opt to buy a townhome. Choosing the right neighborhood can be a long process; you need to make sure that you choose somewhere that suits you now and will last a few years into your future too. Here are some tips: How To Choose The Right Neighborhood For You – Maggiescarf.
