Real Estate

Townhouses for sale

You can trace this word back to early English royalty, where the term referred to a house that stood “in town” when the main house was in the country. Today, in the United States, it is a single-family home with at least two floors. The house shares a wall with another semi-detached house. Although they are like a duplex, there is a difference. Townhomes are owned by an individual and duplexes are not. You can find townhomes for sale in areas where property prices are high and land is in short supply. Many times people look at both condos and townhomes for sale because they think they are the same thing. However, there is a difference. Yes, some townhomes are sold under the condo listing, but the difference is the form of ownership. If you buy a condo or townhouse that is listed as a condo, you will only own the interior of the building. You can also own the exterior property if you buy it as a townhome. It depends on the rules of the community of owners.

Advantages

• Living in a townhome that is backed on both sides by other homes can lower your heating bill, since only two of the townhomes have direct outdoor exposure.

• If you’re part of a community of owners, you have little responsibility for maintaining the exterior, which can mean lower maintenance costs.

• Townhomes for sale are less expensive to buy than a detached home, which is good when money is tight.

• Being two floors there is less noise below or above and more privacy

Disadvantages

• They are of lower value and if you sell your townhome, you will make less profit.

• If you have to sell your townhouse in a depressed market, you could lose money

• You may be disturbed by noise from your neighbor.

• Having little space for the garden and a small backyard

• You have less say in the exterior appearance of your townhome

• Because there are two sides, three if you live at the end of the row may have windows so there is less light in your house.

• In certain real estate markets, buying townhomes for sale can be financially risky.

• You may have to pay homeowners association dues, and they can be high

If there seem to be more cons than pros to buying townhomes for sale, there are many people who enjoy townhome living and will tolerate the cons. They like the proximity of their neighbors. They are happy that they do not have to be responsible for the maintenance of the exterior property, even if they have to pay the dues of the community of owners.