If you’re looking for a place to live in the city, you’ve probably come across a few postings for townhouses. As the name indicates, they are dwellings meant to fit into densely crowded towns and cities, cramming a lot of living space onto a tiny plot of ground. These homes may be built in any architectural style, in any size and with layouts dictated by the size of the property they’re on. There is just one major distinguishing feature of townhouses, and that is that they share walls with their neighbours.
Townhouses, often known as rowhouses, are constructed in groups, with each home sharing one or both of its sidewalls; this is referred to as an “attached” dwelling in real estate. Although townhouses are smaller than detached homes, they are not always smaller in terms of square area; most townhomes have two or three floors, but larger ones might have four or more levels. Before you dive in know what you need to consider before building a townhouse.
Townhouse vs. Condo
Townhouses vary from condo and co-op projects; in that, the owners own the home and the land it stands on in planned and gated communities.When you own a condo, though, you just own the inside of your home. The condo board, often known as the HOA, owns and controls the building’s façade as well as any shared amenities.
You own the outside of the structure as well as the plot of the ground it stands on when you buy a townhouse. As a result, as a townhouse owner, you have more freedom to do whatever you want with your home.
Pros of living in a townhouse
When you discover the things that you need to know about house and land packages, you’d notice there are various advantages to choosing a townhouse over a single-family home, particularly if you don’t want a large yard for your children and pets to play in.
Purchasing a townhouse is not necessarily less expensive than buying a single-family home. However, if you’re comparing a detached house and a townhouse in the same area with similar interiors and renovations, the townhouse will usually cost less. What is the reason behind this? Building homes with shared walls is less expensive than building them individually and the savings are passed on to you.
A townhouse could be a good, reasonable option if you don’t have a big home-buying budget.
2. Low maintenance
When you purchase a detached single-family home, you assume responsibility for all exterior care. You must maintain your property’s yard, arrange for snow clearing and take care of the numerous other responsibilities that come with owning a separate house. When you buy a townhouse, you usually just have to worry about the interior because your HOA will usually take care of the façade. They are proof of what town planners do and why you need one.
3. Common amenities
Owners of townhouses may have access to recreational facilities, gyms and pools solely available to residents of the neighbourhood. Townhouse unit owners can combine cash for neighbourhood improvements like tennis courts. All unit owners acquire a percentage of ownership interest in the common spaces or shared features that all unit owners utilise, granting them legal access to these places. An apartment occupant may have access to some outdoor elements, such as driveways, but no ownership stake.
4. Sense of community
The sense of community and camaraderie that comes with living in a townhouse is one of its most distinguishing features. Residents in townhomes typically share walls, which means they live close to one another. It’s difficult to go about your regular life without knowing your neighbour’s name when you’re so close.
When you live in a separate home, you would probably feel alone. You may know your next-door neighbour or say hello to the family who lives across the street, but with this structure, it’s difficult to build a true community.
Cons of living in a townhouse
Well, there are disadvantages to almost anything. You should constantly consider the cons against the pros, especially when making a major decision like whether or not to buy a home. So, here are the cons to look for.
Some individuals dislike living with an HOA’s regulations, which may include limits on the colours of paint you may use on your patio or the sorts of windows you can install. HOAs also impose monthly charges, so keep that in mind while planning your budget.
You could have to cope with more noise and traffic than you would in a detached single-family house because you’ll be so close to your neighbours. In a private dwelling, you know the things to look for when hiring a home builder, so you can design the home the way you like.
3. Less privacy
When you own separate property, you may come and go as you wish without constantly seeing your neighbors. Because you and your neighbours are practically living on top of one another in a townhouse, having some privacy could be difficult.
4. Space issues
Townhouses are often smaller than detached houses. In certain circumstances, this may imply a reduction in living space. With townhouses, storage may also be a concern. Many homes lack garages or basements and if you have children, you may find yourself cramped in a small space.
Is townhouse living right for you?
Clearly, there are pros and cons to purchasing or residing in a townhouse. One thing to remember is that if you have your mind made up on an area that is a little out of your price range, a townhouse might be a way for you to get your foot in the door, especially if you want to buy. If you don’t care about having a lot of private outside areas and want to keep your upkeep to a minimum, buying a townhouse could be a good choice.
If you’re unsure whether a townhouse is a suitable investment, speak with a local real estate agent and inquire about recent buyer performance. Because certain townhouse communities are highly sought after due to their location or facilities (this is what an architectural drafter can do to a place), you’ll want to hear the inside scoop from someone who knows the neighbourhood well before making a selection.