Townhouses are trending as the most popular purchase-worthy properties recently today. But before you join many others who have decided to settle in a townhouse community, it is wise to weigh in on the attractive and not-so-attractive reasons for doing so.
PROS
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- You own both interior and exterior space
When you buy a townhouse, the purchase includes the townhome and the land it sits on. This allows you to customize your place to a certain degree. You can repaint your home’s interiors in bold colors, remodel any room or space within the home or even take down (or add) walls within. These are things that you are not at liberty to do if you’re only renting a condo.
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- These communities feature common areas
Good townhouse communities offer a number of amenities and common areas that benefit health, well-being, and relationships. These may include a neighborhood gym, pools, clubhouses, parks, and other recreational areas.
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- HOA handles maintenance
In a townhouse community, the homeowners’ association (HOA) handles the external maintenance to ensure that the neighborhood is clean and maintains a uniform appearance. With maintenance costs divided equally among association members, the money you spend for the neighborhood’s upkeep is considerably less than what a single-family house requires.
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- Secure community
Aside from having their own private security, townhouse communities often provide a tight-knit environment where everyone looks out for one another.
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- Strategically located
Townhouses are often situated in a city-town or are within the city proper itself. When you own a townhouse in such a community, a variety of commercial establishments, schools, hospitals, and other vital establishments are immediately available to you.
CONS
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- Maintenance fees
Assess the services and charges covered by the HOA fee before you buy a townhouse. You may be obligated to pay fees for amenities you may not be using at all.
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- Shared walls
Townhouses typically have shared walls. This implies that you could lose some of your privacy as sound can easily travel through these walls. This can be particularly difficult when only a wall separates you from a noisy neighbor. Consider soundproofing if peace, quiet, and discretion are what you want in your townhouse.
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- Mandatory participation in the HOA
Some HOAs require mandatory participation, others voluntary. Then again, if you choose not to participate, you could face deed restrictions, penalties, and possible foreclosure if you are found in violation of HOA rules.
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- Rules and limitations can be constricting
The HOA may have rules and regulations that do not sit well with you. For example, some communities prohibit owning certain pets while some ban owning them outright. So, before you dive in and buy a townhouse, make sure you are okay with their set of rules.
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- You have less room to be unique with your property
Speaking of strict rules, townhouses all have the same architectural design and uniform external appearance. Try to tweak the look of your home’s exteriors in any way and you could be found in violation of township rules and laws.
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- People can get in each other’s business
While some people may enjoy being tight and friendly with their neighbors, some people still want to maintain a certain degree of freedom and privacy that a townhouse community may fail to offer.
Knowing what you’re signing up for can spell the difference between being happy with your townhouse purchase or not. For well-informed investing, consult with the Hunter Real Estate Group. With over 20 years of experience working in Houston, this team of real estate professionals will help you get that property you desire most at the easiest terms. They can be reached via phone at (713) 572-0824 or via email at trace(at)hunterrealestategroup(dotted)com.
