Deciding to take the “new home” plunge can be exciting, but there are many factors that come into play. How long will you be in the area? What kind of amenities do you want? How familiar are you with the home buying process to begin with? If any of these questions leave you unsure about buying a new home, then maybe living in a townhome is the way to go.
If you’re coming from an apartment setting, living in a townhome may an easy transition. You will usually have a parking space. You’re not responsible for any upkeep on the grounds, such as snow removal, lawnmowing, or leaf-raking. And many townhome complexes, much like apartment complexes, provide laundry facilities, swimming pools, and workout rooms.
A major advantage of a townhome over an apartment is, of course, that you more frequently come across option to buy a townhome. This can help get you used to the buying process without completely diving into all the extraneous foibles of owning a standalone home. And you’ll start building equity as well.
Your timeframe also becomes a little more flexible when you look at townhomes to buy. Say, for example, you’re only in a particular town long enough to finish a college degree. Living in a townhome might make more sense than buying or building a new home. You also will most likely be able to find townhomes in more flexible locations than traditional houses. And when you do decide to leave town, the resale process may be easier with a townhome.
Lastly, new townhomes generally become available in large swaths, as a significant percentage of the new home construction market are townhomes for sale. Add that to the flexibility, comfortablility, and yes, affordability of a (versus a standalone home), and townhome begin to look more and more appealing. More can be found here.