When you are planning to purchase real estate, the decision of what type of property to buy can be tricky. Should you choose a single-family home, a condo, or a townhome? Each of these categories has its pros and cons, so buyers should weigh their budget and lifestyle along with how involved they would like to be with their future property. Here are some of the benefits of living in a townhome versus an apartment or single-family home:
Cost: By sharing one or more walls with neighboring townhomes, owners have the benefits of having their own property at a significantly reduced cost. Townhomes are often a smart real estate investment because there is a larger pool of tenants looking in this price range. Since townhomes are often newer than single-family homes, owners are able to get modern, energy-efficient updates at a much more affordable price.
Location: Townhomes are usually situated closer to bigger cities and urban areas, making them more convenient for commuting and spending leisure time in the city. Townhouse communities also draw dining, shopping, and entertainment options that may be unavailable in more suburban areas.
Community: Many townhomes have their own backyards in addition to a shared green space that can be used by all occupants. Some townhome neighborhoods also have community areas such as walking trails, parks, and swimming pools. Townhome owners enjoy the use of these spaces without the hassle of upkeep. In addition, social homeowners will enjoy opportunities to meet more people and make friends in common spaces.
Noise Level: Because townhomes share one or more walls with other homes but are multi-level, they are usually quieter than apartments that have neighbors above or below. Townhomes are a good "middle ground" between a noisy apartment complex and a sparse suburban neighborhood, allowing occupants to be social but still have their own space.
Maintenance: Single-family homes require significantly more maintenance that you'll have to complete yourself or hire out. Townhomes come with Homeowners Associations (HOAs) that are responsible for the exterior and common area maintenance. This maintenance often comes at a fee, but the service makes a townhome a much more convenient option for busy, active people who would rather leave this work to someone else.
In conclusion, townhomes are a great option for homeowners or real estate investors looking for some involvement in maintaining their property without the full cost and responsibility of a large lot.Share