The townhomes are very convenient for the retired couples and for the singles, as they provide low maintenance lifestyle. However, there are certain things that property buyers should know when they are looking to buy a townhouse.
Thus, before making a big investment, it is always advisable to do a research and follow some tips and ideas.
Townhome or a Condo?
The difference between the condo and the townhome is… close to zero. Usually the condo is a form of ownership while the townhome can be a single family home or a condo ownership where several people own collectively the plot on which the condo is built.
When the condo comes in the form of a fee-simple ownership, then the buyer owns the ground beneath the unit, as well as the common area of the complex.
Another difference between the condo and the townhome is that the condo is usually in a building of several floors, while the townhome is a residence for one family only. The real estate agents say that the townhome and the condo are basically one and the same.
Townhome or Regular Home
The buyers should also know that there is a difference between buying a regular home and buying a townhome. The townhomes have a monthly fee that goes to the homeowner association and it covers the landscaping, the maintenance, the facilities and also the insurance of the area around.
This fee might vary, that is why the buyer should talk to the builder about that and thus include the fee in the budget. When the buyer is getting a family residence, he is bound by the rules and regulations of the community where this house is located.
The Specifics of the Townhomes Life
The townhome lifestyle is not suited for everyone, but it is great for those that want a single home but not the yard and all the responsibilities and maintenance. These might be young couples with no kids, young singles and even divorced people with kids.
The main consideration with the townhome is the location. Which is usually in the urban environment or in the center of the major cities, close to public transportation, shops, local bars and nice restaurants, etc.
Usually the townhomes offer many baths and bedrooms, and sometimes a garage as well. They are more affordable than the houses.