Buying Townhouse Versus Single-Family Homes For Home Buyers


This BLOG On Buying Townhouse Versus Single-Family Homes For Home Buyers Was PUBLISHED On February 19th, 2019

Buying Townhouse Versus Single-Family Homes is one of the main decisions home buyers face.

  • There are pros and cons in Buying Townhouse Versus Single-Family Homes
  • Some questions are how long are you planning on living at your new home
  • Is privacy a concern?
  • How much are the monthly payment differences when Buying Townhouse Versus Single-Family Homes
  • What life changes will your new home purchase have to accommodate in the near future?

Home buyers need to compare the pros and cons when deciding in Buying Townhouse Versus Single-Family Homes.

Features When Buying Townhouse Versus Single-Family Homes

There are structural differences when Buying Townhouse Versus Single-Family Homes.

  • Townhouses are attached to one another
  • It shares common walls from one unit to another
  • Single-Family Homes are detached properties
  • Single-Family Homes do not have shared walls and sit on its own lot
  • Owners of single-family homes have front and back yard space
  • Townhomes are limited to outdoor space
  • Townhouses are normally built in urban areas and are smaller than homes

Folks who do not want to be very close to their neighbors would benefit from single-family homes versus townhomes.

Illinois Realtor Karry Razik, a very popular experienced veteran with Remax First Class in Orland Park, Illinois, issued the following statement:

When referring to townhomes, we mean a small house that’s attached to other small houses in a multi-family complex. Townhomes are the middle ground between a house and a condo.

Here is the pros:

Affordability for amount of space

Plenty of space

Yard work and snow removal is often handled by HOA

Attached garage

Here are the cons of owning a townhouse versus detached homes:

Some HOA fees

Less privacy with shared walls

Costs of home ownership, including maintenance and repairs

Communities In Townhouses Versus Detached Homes

Townhomes are built within a common-development community.

  • There is a homeowners association
  • Townhome owners get charged a homeowners association dues
  • HOA can vary anywhere between $100 to $500 or more depending on the townhome community
  • The HOA sets rules and enforces the by-laws of the association
  • The HOA contracts with third-party vendors such as maintenance, landscaping, plowing, scavenger services, and other third-party services
  • The cost of these services is included in homeowners association dues
  • Townhouse owners cannot pick and choose the color of their exterior
  • The homeowners association has strict rules on what color the walls can be painted
  • Many HOA’s do not allow owners to rent their townhomes
  • Need to check with the homeowners association whether or not owners can keep their townhouse as rentals if they decide to purchase another home
  • Other restrictions that be placed by HOA is the type of pets they can have
  • HOA can dictate that pet owners cannot have a dog heavier than 35 pounds
  • Trucks and RV’s are often not allowed in townhome communities

One of the greatest benefits of living in a townhome community is that owners do not have to worry about maintenance and landscaping. However, it does come with a price and is charged with the HOA dues.

Cost Differences Buying Townhouse Versus Single-Family Homes

Many first time home buyers are more inclined to Buying Townhouse Versus Single-Family Homes because they believe townhomes are cheaper. This is not necessarily the case. Detached homes do not have homeowners association dues. Townhouses do. Average HOA Fees on townhouses are $400. A $400 monthly payment is equivalent to $80,000 in buying power. So Whether a home buyer purchases a $100,000 townhome with a $400 HOA Dues or $180,000 detached home, their monthly mortgage payment will be the same. When comparing housing costs on townhomes versus detached homes, make sure to compare HOA dues versus no HOA dues. There are many factors to consider when deciding to purchase a townhouse or detached home.  Talk to family, friends, and especially your realtor.

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