Home is where the heart is, but what type of home is right for you?
Maybe you know a single-family home is simply too much and an apartment is just too small, but you are unsure of the meaning of it all. You’ve heard of condominiums and townhouses, but it’s a lot to take in.
We’ve made it simple by discussing some of the different elements and breaking down 6 benefits of living in a townhouse, then providing some tips to find the right townhome for you. Let’s get started!
1. Save Money, Short Term and Long Term
Who doesn’t like saving money?
Townhomes are extremely cost-effective from the time of purchase to your daily life. In general, the purchase price is lower than if you were to purchase a single-family home or a condo.
You will also save money over time because of the size. A smaller living space results in less money spent on utilities.
2. Built-in Community
When you live in a townhome community, it’s so much more than just in the physical sense. Because there is a connection, figuratively and literally, members of these communities can count on their neighbors.
For example, if you’re going on vacation, your neighbor can ensure everything is safe and sound. Think of it as a built-in house or pet sitter! They don’t live with you per se, but they’re pretty darn close and have an understanding of your living space.
3. Apartment-Like Amenities, More Personal Space
Unsure of the benefits of living in a townhouse vs apartment living? Here are just a few of the advantages of living in a townhome rather than an apartment:
- driveway and garage vs parking lot
- personal laundry space vs community laundry or laundromat
- more individualized living experience vs residing in one building
- larger living space with multi-levels vs small apartment
4. Social Life Made Easy
Oftentimes, townhomes, condos, and apartment communities have clubhouses, pools, and recreation areas.
With these amenities come gatherings and the opportunities for parties both with your fellow community members as well as hosting your own events in the available space.
5. Potential for Less Maintenance
Unlike when purchasing a single-family home, there are variables when it comes to what you as the owner of the property are responsible for.
In some situations, townhome owners are responsible for the interior of the home, but not the exterior like the roof and the land. Other times, owners must take care of the exterior as well.
The third case is a living arrangement where both the interior problems and exterior maintenance are taken care of, which is covered by the HOA fee.
6. HOA Support System
So what is the HOA fee? It is a fee paid by homeowners to cover included amenities like pool and clubhouse maintenance, and trash removal.
In some cases, grass and landscaping, electricity, utilities, and security features are covered. It is important to note that HOA fees vary greatly in cost and coverage.
How to Find the Right Townhome for You
Are you considering moving into a townhome? Here are a few things to do and consider to decide what type of townhouse best suits you:
- Think about what type of community you are looking for, or not looking for – like 55+
- Know what is important to you, like a pool or a gym
- Research and talk to property owners in your area to get feedback
- When you find a property of interest, ask questions like “What does the HOA fee cover?”
Dreaming of Living in a Townhouse? Hire a Realtor to Help
Now that you feel confident in your home knowledge, it’s time to call in the professionals. Whether you’ve decided a single-family home is the best fit after all or a townhome is best, the perfect match to your new-found knowledge is the perfect realtor.
If you’ve decided that living in a townhouse is the life for you, the award-winning Liz Luke Team of Long & Foster Real Estate can help you make your dreams come true. Contact us today!