House hunters usually make a choice between buying a house or condo-living, townhouses almost don’t make the list of options. But choosing a townhouse from property listings can help buyers find a middle ground between a detached home and the benefits of living in a condominium.
Townhouses are spacious and may even equal the amount of space you need in a single home. They usually have 2 or 3 floors, with 3 bedrooms and 2 baths. It’s good enough for small families or couples. You have a small yard for your kids and pets to play, and some townhouses even have balconies.
These are the benefits you can enjoy when you live in a townhouse.
Affordability
Townhouses are more affordable detached family homes. The structure resembles a house but is attached to other similar-designed homes. You own your house but you split ownership, as well as the taxes and maintenance costs of the property. Unlike a house where you shoulder the taxes and all the cost. In a condo, on the other hand, you only own your space but not the land. Plus they charge a premium based on the location.
This is a good starter home for people with a limited budget.
Security
Whether you’re sociable or not, there’s a huge benefit in being close to your neighbors. There’s safety in numbers and you can be assured that there’s someone close by to help you in case of emergency. Additionally, some developers provide on-site security for gated townhouse communities.
Community
Townhouses give a sense of community to homeowners. This is great if you like socializing with people. Some townhouse communities even organize get-together and socials to bond with everyone. You create lifelong friends as time goes by.
Investment
Is a townhouse a good investment? The simple answer is ‘yes’. It’s a titled property that will appraise in value. You can sell it in the future or transfer ownership to your children. Townhouses are usually located in urban areas close to public facilities and amenities, so finding a buyer won’t be difficult so long as you keep the property in good shape.
The key to making a smart investment when it comes to townhouses is choosing a developer that builds quality structure and provide on-site security. Making some upgrades will also increase its value.
Townhouses are a good option for small families or people looking for starter homes that won’t bury them in huge mortgage debt. It’s also perfect if you prefer living in a walkable environment and love socializing with your community.
