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What to Know When Considering the Purchase of a Townhome versus a Detached Home

Real Estate

What to Know When Considering the Purchase of a Townhome versus a Detached Home

Prospective homebuyers who are trying to decide between purchasing a townhome or a detached home need to consider several factors about the advantages and benefits of each. First of all, what are the definitions of each type of home?

A townhome is a single-family home joined by a common wall, usually with access to the outside and a small yard area that may be used by the unit’s residents or by the entire community. Detached houses are single-family homes built on its own lot. Traditionally, a detached home offers more privacy than a townhome and may have fewer restrictions, depending on its location.

When choosing between a townhouse or detached home, take your lifestyle, family size, where you work and your stage of life into consideration. It’s important to buy a home that fits your current and future needs. Your choice could play a significant role in your quality of life.

Single-family detached homes sometimes carry higher price tags than townhomes. Townhomes are usually located in communities that offer amenities, such as a swimming pool, playground, or perhaps a fitness center. Townhome owners may have less control over property usage.

Maintenance is a key consideration. Townhome grounds are usually cared for by a maintenance company that is paid through the owner’s HOA fees. Detached homes require more time and money to maintain, and owners have more flexibility to make major improvements that can increase property values.

Because of the space required to build detached homes, they are usually located away from downtown areas. Townhomes, on the other hand, have the advantage of fitting onto smaller plots, making such housing options more accessible to commercial areas. If your job centers in such areas, a townhome may work best for you. However, if sharing a common wall with your neighbor or having a small yard do not suit your lifestyle, a detached home may better serve your needs.

In townhome communities the homeowners association dictates the color of homes’ exterior walls and who can live there. The owners must agree to follow the HOA’s covenants, conditions, and restrictions. Newer, single-family homes may also have an HOA, but it is essential to townhome ownership. The advantage of a townhome community is that the HOA ensures upkeep and uniformity of the dwellings.

Ultimately, the two most important things that a prospective buyer must consider are lifestyle and affordability.