What is a Townhome?
No matter what kind of townhome it is or why you choose your particular community, most townhomes are very similar, so what is a townhome? For example, you can expect to find a garage or carport for parking vehicles and a relatively large outdoor space, along with each unit being attached to one another. As far as living space goes, most townhomes have similar layouts as they are built-in uniform rows.
The cost is one of the major benefits and perhaps con of a townhouse. Townhomes are typically less expensive than a house of similar size. This is because they have shared walls, common shared areas and some other features that allow the overall community to either collect an HOA or not.
They're also easier to maintain for an owner due to the fact that they generally charge a home owner association fee. The local HOA will maintain many of the communal areas around the property. Townhouses that are part of a complex may also come with amenities like a shared pool or gym.
However, some people don't like the restrictive nature of the homeowners association, who have some say about what you do with the property. The multi-floor layout with lots of stairs may prove to be a challenge for some homeowners unless you are lucky enough to have an elevator.
Overall, townhomes can be an excellent option for first-time buyers. If you are currently looking to buy a property, get in touch with MortgageQuote.com and we can try to help you get pre-approved for a loan. If you are ready to get things moving as soon as you find the perfect home then reach out to us to further discuss.
What is a townhouse?
Should You Buy a Condo, Townhouse, or House?