In our current age, we’ve become accustomed to having options. When there’s a need or a desire for a specific thing, people strive to bring a solution to that need. The townhouse is a perfect example of solving a problem. A townhouse is the perfect solution for a person who wants the best of both condo and single family home living when buying a home.
In this blog update, we will define what a townhouse is and give a few reasons why you should consider one.
What Is A Townhouse?
A townhouse, by definition, is a tall, narrow row house that is usually three or four stories but can have less. A townhouse can have shared walls with multiple owners or it can be freestanding. A townhouse also can have multiple entrances, usually in the front and back. These homes are basically like a combination between a single family home and a condo.
Similarly to a condo, a townhouse can have common areas that are shared between multiple owners. And also, similarly to condos, a townhouse can have homeowners association fees. However, the townhouse owners can also be responsible for both interior and exterior care of their homes.
Condo owners who enjoy the social aspect of living in a condo will find it very similar if they purchase a townhouse but also very different. And on the other side of the coin, a single family home owner who purchases a townhouse will have a similar yet different experience as well in regards to privacy.
So, why should you buy a townhouse over a condo or a single family home?
A Townhouse Offers Privacy AND Social Interaction
One of the most flexible bonuses for owning a townhouse is the fact you can enjoy your privacy as well as socialize with your neighbors. Townhouses usually have common areas that may be outside of the home where neighbors can meet often. These common areas can be shared sidewalks or walkways. In some townhouses, there are inside common areas as well where neighbors can meet and greet.
While townhouses don’t always have the same type of amenities that condos have, they make up for that in having more privacy. For example, townhouses usually have their own garages. This means you do not have to deal with assigned parking spots, or having to worry about guest parking!
Townhouses Are Low Maintenance And Allow For Personality
Townhouses usually have their own garages and even a personal small yard. As mentioned before, each townhouse can have a small plot of land that they can maintain on their own as they please. Townhouse owners do not have to deal with the large yard sizes of single family homes. These small yards also allow owners to show a bit of their personal flair without worry.
The owners of the townhouses can have different arrangements set into place on how shared exterior maintenance is handled. For example, each townhouse owner can all pitch in together to share the cost of any major repair that is needed. So not only are townhouses helpful for social interaction, they are also helpful in sharing extremely costly repairs.
Townhouses Are Financially Responsible
Townhouses in most locations give the single family house experience for a cheaper price. When you purchase a single family home, you do not only pay for the square footage of the home. You are also paying for the size of the lot of land that home sits on. The more acres your home is sitting on, the more expensive that home is.
Since townhouses are narrow homes, the amount of land that it sits on is much less than a single family home of the same square footage. Your hard earned dollar can purchase more size in a townhouse.
Townhouse Owners Also Pay Less for Homeowner Association Fees Than Condos
Most people will argue that if your townhouse community pays homeowners association fees, you offset the cost of paying for a small plot of land. However, you pay less per month with townhouses than with condos because you’re personally responsible for more.
Townhouse homeowners association fees usually cover smaller items like trash disposal, while condo fees usually cover exterior maintenance and repairs, the maintenance of common areas, pools, gyms, and clubhouses. Those costs can definitely pile up, especially if you have a larger community with a lot of amenities.
Hopefully this blog post has given you some good insight on what a townhouse is and a few reasons to buy one. You should have a better idea if a townhouse is a good idea for you and your family!