9 Reasons Why To Buy a Townhouse For First-Time Homebuyers
In this blog, we will cover and discuss 9 reasons why to buy a townhouse for first-time homebuyers. Homebuyers often compare buying townhouses versus single-family homes. There are many benefits of buying a townhouse versus single-family homes. Many first-time homebuyers automatically believe that buying a townhouse is cheaper than buying a single-family home This may hold true in some cases but it is not often the case. Buying a townhouse may be cheaper but the monthly housing payments may be the same due. Single-Family homes do not have homeowners association dues unless the home is in a gated community. Townhouse communities often have homeowners association dues. We will discuss the comparison of buying townhouses versus single-family homes on this blog.
What Are The Benefits Of Buying a Townhouse?
What Are Homeowners Association Fees?
Townhome owners pay a homeowners association fee. HOA fees are somewhat like a tax. The HOA is responsible for keeping the exterior of the community clean, safe, and functional. HOA dues vary depending on the townhouse community Single-family homeowners can hire others to do the same thing. Homeowners need to act as the general contractor and have to hire individual subcontractors such as landscapers, painters, snow plowing companies, and other trades.
What Are The Primary Functions of The HOA?
In townhome communities, the homeowner association takes care of maintenance in common areas such as landscaping, snowplowing, window washing, pool maintenance, security, common laundry facilities, building mechanicals, fire alarm, and guard staff if gated community, escape doors, elevators, and other shared amenities. Owners of townhomes have limited maintenance since the HOA Manager is in charge of taking care of shared public areas. The HOA will vett individual subcontractors and check on their references and make sure they are properly insured so the homeowners association does not have any liabilities.
Why You Should Buy a Townhome Versus a Single-Family House
Most residents in townhome communities become to know most members of their community. Not just the shared wall neighbor next door but everyone in the community due to the amenities provided by the HOA. Many townhouse communities have common areas and entertainment facilities such as pools, gyms, running and bike paths, and a clubhouse. Townhouse community members become lifelong friends with each other. Not only do they watch each other’s homes but can join social activities available in the townhome community. Many townhome communities have inground pools, clubhouses, gyms, tennis courts, ponds/lakes, walking trails, and bike paths.
Are Townhomes More Secure Than Single-Family Homes?
One of the top 9 reasons why to buy a townhouse versus is due to security. Many homeowners who often travel on vacation or have a job that requires travel for business prefer townhomes versus single-family homes. Many owners decide to purchase townhomes versus single-family homes due to safety. Homes are not sprawled in the distance from one home to another like they are in subdivisions. Since townhome communities have homes with shared walls, it is difficult for criminal activity not to go unnoticed. Many folks who travel for business and/or vacation can rest assured the chances of burglary or vandalism is extremely minor.
9 Reasons Why To Buy a Townhouse Versus a Single-Family Home
The top four benefits of buying a townhouse are the following:
- Safety And Security
- Affordable
- Amenities
- Gated Community
- Convenience
- Low Maintenance
- Sense Of Community
Types Of Buyers That Benefit From Buying a Townhouse
On the list of the 9 reasons to buy a townhouse is due to being affordable and less expensive than single-family homes. In general, townhomes have lower taxes and insurance than single-family homes. Townhomes are becoming increasingly popular not just for first-time home buyers but buyers in general. Many builders are developing townhome communities in cities with little land space like San Francisco, Los Angeles, Chicago, Atlanta, Houston, Austin, Dallas, and New Jersey. Due to the affordability and great value of townhouses, many first-time home buyers and senior retired buyers are gravitating toward buying townhomes. Townhouses are often better than condominiums.
What Is The Difference Between a Condo Versus a Townhouse?
Why Are Townhomes Popular For First-Time Homebuyers
Townhome Lenders With No Overlays This blog on 9 reasons why to buy a townhouse for first-time homebuyers was updated on August 5th, 2022
