Deciding what kind of home to purchase may just be one of the most important decisions a person ever makes. It ranks right up there with decisions about your focus in life and the job you take. After all, a home is the base whereupon all other aspects of life happen from. It is also one of the major decisions that will help to shape your financial future. In choosing a home you will need to ascertain your home needs and wants and then choose the style of home that suits you best. In our modern world there are really two basic choices for a home style, condos and single family homes.
Condos are a great starter property. With many condo developments possessing a starting price lower than the average single family home, they have become a favorite choice of first-time buyers. Condos offer a unique lifestyle that is based around a community living model, much like apartments but with the major difference that the units are owned rather than rented. This style of living has several benefits for residents, the most notable of which is the fact that maintenance of the property is handled by a management company. This kind of environment is highly desirable for those who simply do not have the time or ability to maintain a traditional property. Now keep in mind that in condos there will be a monthly condo fee on top of whatever mortgage you are paying. These funds go to the aforesaid property maintenance and building improvements. Many current developments also feature extras like spas, health clubs, meeting rooms and other community based services.
Traditional homes are the other major housing choice. The list of benefits of owning your own home is well documented and there is little need to go into that exhaustively. A single family home is by definition great for a family as most condos are ideal for one or two people but when considering a larger family, the home reigns supreme. There is also something to be said for owning a parcel of property and seeing your hard work pay off as the property becomes more and more value due to appreciation. There is also the peace of mind in knowing that if you need the extra space you can simply add on to the home. Really, the only limit of what you can do to a home is your imagination; or your wallet.
The choice is yours. There is no one better to assess your home needs. Be realistic with yourself about what you need, what you want, and what you can afford both short-term and long-term.
Rental Single Family Homes
Townhouses used to conjure up images of small, cramped spaces that were inexpensive and for many a ""first home only"" option. Nowadays however new townhouses rival their single family brethren in size and amenities. They have also set a new standard in community amenities with many communities offering luxurious amenities found in resorts around the world.
Read on to see seven things you should consider before buying a single family home over a townhouse.
Low Maintenance Living - One of the biggest benefits of living in a townhouse is having a homeowner's association that maintains common areas and buildings for you. You won't have to worry about mowing the lawn, not being able to get to work because the road in front of your home isn't plowed or paying for garbage separately. The homeowner's association covers different maintenance items in every community so be sure to check that your wish list is covered before putting in an offer.
Clubhouse Amenities - In addition to the luxury of having common space maintained for you there are the clubhouse amenities that also come with living in a townhouse community. Common amenities include a swimming pool, fitness center, playground and some type of sport like a basketball or tennis court.
Clubhouses tend to have one large common space that can be rented by residents of the community and used to house large events like birthday parties, business meetings and more. If you entertain a lot then this type of arrangement may suit you best.
Municipal Services - Due to the size of townhouse communities, often in excess of 30 homes, townhouse communities use community or municipal services for water and sewer. This is another great aspect of townhouse living as compared with a single family home which may have a private septic and well setup.
More Affordable Options - Townhouse communities offer a range of models that vary in size and this variety can help you enjoy the same community lifestyle as buyers who purchase the most expensive homes in the community for less.
Close Proximity to Everything - Convenience is number one in the mind of townhouse buyers that commute and retirees who are downsizing but don't want to give up easy access to shopping. Most townhouse communities are within short driving distance of mass transit, grocery stores and retail shopping centers.
Bigger Neighborhood - When you live in a townhouse community you will have more neighbors to befriend and can have friends for the entire family. Community amenities like a swimming pool and playground help grow friendships further.
Excellent Rental Potential - Sometimes you may need to relocate with little time to sell and renting will become a viable option. Potential tenants are usually more open to renting a townhouse with a homeowner's association in place because it creates a near no maintenance environment for them whereas renting a single family home still comes with the responsibilities of ownership.
With luxury community amenities that rival four star resorts and new interior designs that focus on openess and space, townhouses are making a huge comeback in the new home market. Before making the investment into a single family home it would be well worth investigating townhouse communities in your search area to see what home styles, layouts and amenities they offer.
Both Albert Bor & Joshua Ferris are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Albert Bor has sinced written about articles on various topics from Real Estate, Kitchen Home Improvement and Real Estate. Albert Bor is a certified and professional Arizona realtor representing Choice Group Realty. The Choice Group specializes in
