9 Reasons Why To Buy a Townhouse For First Time Homebuyers
This article covers 9 Reasons Why To Buy a Townhouse For First Time Homebuyers
Homebuyers often compare buying townhouses versus single-family homes. There are many benefits of buying townhouse versus single-family homes. Many first-time homebuyers automatically believe that buying a townhouse is cheaper than buying a single-family home This may hold true in some cases but it is not often the case. Buying a townhouse may be cheaper but the monthly housing payments may be the same due.
We will discuss the comparison of buying townhouses versus single-family homes on this blog.
Main Benefit Of Buying Townhouse
The main benefit of buying a townhouse is less maintenance for homeowners.
It takes a lot of work to maintain a single-family home. Homeowners of single-family homes are responsible for mowing their lawns, maintaining the exterior landscape, plowing during the winter months, seal coating their driveways, painting the exterior every few years, and countless other tasks. Townhome owners do not have to worry about such tasks.
They pay a homeowners association fee. HOA fees are somewhat like a tax. The HOA is responsible for keeping the exterior of the community clean, safe, and functional. HOA dues vary depending on the townhouse community Single-family homeowners can hire others to do the same thing. Homeowners need to act as the general contractor and have to hire individual subcontractors such as landscapers, painters, snow plowing companies, and other trades.
With townhome communities, the HOA Manager does this so homeowners do not have to worry about it. The HOA will vett individual subcontractors and check on their references and make sure they are properly insured so the homeowners association does not have any liabilities.
Safety And Security Factors In Owning Townhomes
Most residents in townhome communities become to know most members of their community. Not just the shared wall neighbor next door but everyone in the community due to the amenities provided by the HOA. Many townhouse communities have common areas and entertainment facilities such as pools, gyms, running and bike paths, and a clubhouse
Many owners decide to purchase townhomes versus single-family homes due to safety. Homes are not sprawled is the distance from one home to another like they are in subdivisions. Since townhome communities have homes with shared walls, it is difficult for criminal activity not to go unnoticed
The top four benefits of buying a townhouse are the following:
- Safety And Security
- Low Maintenance
- Sense Of Community
Types Of Buyers That Benefit Of Buying Townhouse
Townhomes are becoming increasingly popular not just for first-time home buyers but buyers in general. Many builders are developing townhome communities in cities with little land space like San Francisco, Los Angeles, Chicago, Atlanta, Houston, Austin, Dallas, and New Jersey. Due to the affordability and great value of townhouses, many first-time home buyers and senior retired buyers are gravitating toward buying townhomes. Townhouses are often better than condominiums. Condos are apartment units in a building. Townhouse owners own the property and often have a yard. Condominium owners, only own the space inside the condo unit.