If you're in the market to look at townhouses for sale, there are more options than just an apartment or a single family home. Townhouses are increasing in popularity, and they offer several advantages for the new home buyer. Here are some benefits to consider that might make a townhouse the perfect fit for you:
1. A reduced purchase price for the amount of square footage.
Townhouses are often the sweet spot -- they offer quality and space at an affordable price. Most single family homes cost more because they have more land attached and because there are no shared walls. However, if you do not mind having close neighbors, townhouses usually have nicer finishes and the same square footage without the higher price tag. You can usually get into a newer, nicer home if you buy a townhouse (with features like ensuite bathrooms and large closets) than if you bought a single family home listed for the same price.
Unlike buying a condo or an apartment in a building though, you will actually own the land the townhouse sits on, which many homeowners can find comforting.
2. Greater potential for rental income.
If you ever want to get into real estate investing, renting out a townhouse is easier than renting out a single family home. There is less yard maintenance, fewer windows, and decreased exterior siding for cleaning. Sometimes the community can have an HOA to take care of exterior maintenance. Townhouses are more appealing for young professionals who do not want to pay extra in rent for single-family living. Townhouses usually have community amenities like parks, walking trails, or even a place where residents can workout. These perks are often appealing to many renters.
3. Reduced costs.
Less or no yard means no mowing or buying a mower. Townhouses have smaller driveways, so you won't have to worry about shoveling, sealing, and refinishing. But many still have a small outdoor space that can allow you to grow a square foot or herb garden, and you can visit the parks close by if the kids need a place to run around. You won't have to build your own backyard oasis to keep everyone happy.
There's also some reduced costs with interior maintenance as well. Because you share some walls with neighbors, utility costs can sometimes be lower.
For more information on finding the right house for your needs, contact a real estate agent in your area.