Guest article by Gilles Rais Fine Homes.
About the author:
Gilles Rais is the founder of Gilles Rais Fine Homes. With over 25 years in this community and 16 years as a realtor, Gilles has acquired a depth of market knowledge and experience that led him to the top of the real estate world in South Florida.
If you are looking to buy a new home and are confused about whether to buy a townhouse home or single-family homes, then this article is for you!
We understand that finding new construction single-family homes in South Florida is an overwhelming task.
One of the primary decisions you have to make is whether to purchase a townhouse home or a single-family home.
Such decisions can be tricky because you can’t anticipate with certainty how long you’ll live in, and whether life will change in your home in the future. Within a few years’ time, the discrepancy between the needs and the present budget of the townhouse and that of the single-family house is complicated.
Parameters like price and affordability are also crucial determiners among other aspects that we discuss in this article.
Let’s first understand a bit about townhouse homes followed by the pros of buying a townhouse home.
What are Townhouse Homes?
Townhouse homes are single-family homes that share many common walls with other unit homes. These are multistory buildings that come in a variety of shapes and sizes. Townhouse homes usually have their own interior and exterior walls, lawns, roofs and common shared spaces like garages, clubhouse, pools, etc.
The homeowners association (HOA) controls and manages trash removal, maintenance, etc. Let’s discuss some other benefits of living in Townhouse homes.
Advantages of Townhouse Homes
Since you will have your own lawns and pool, it is important to maintain cleanliness and regular cutting of the cutting. This is crucial for a healthy living environment. But you don’t have to do everything yourself. It is the responsibility of the Homeowners Association to maintain cleanliness and can range from basic landscaping to roof repairing, painting, etc.
Owning a townhouse home is not very expensive, mainly because you are required to pay HOA fees and other temporary assessment. Even though you have to pay real estate taxes as determined by the taxes in that locality, it is quite reasonable as compared to single-family homes. So if you are on a tight budget, then owning a townhouse is a better option for you.
Living in a townhouse home means living within an area with people of common interest development. The HOA looks after the operations of daily activities and ensures the upkeep and uniformity of the dwelling. Not only that, since communities live so close together, they always offer a helping hand and keep one another safe.
Some townhouse homes provide amenities like swimming pools, parks, tennis courts, control access gates, public transportation, conservation areas, and more.
What are single-family homes?
Single-family homes are detached, stand-alone properties that do not share common walls and spaces with other properties. In other words, single-family homes are an individual’s property. Depending on the locality, such neighborhoods may or may not be governed and managed by the Homeowners Association.
Such a dwelling is mostly constructed in the suburbs of a large city, rural countryside, or a subdivision. Let’s have a glance at some of the benefits of living in single-family homes.
Advantages of Single-Family Homes
Access to huge yards
In comparison with Townhouse homes, single-family homes have bigger yards. Most of the townhouse homes don’t have private yards as those are common areas for the residents maintained by the HOA. If you have a large family or are always entertaining guests, a single-family home with a private yard is the perfect choice for you.
When you own a single-family home, you have the decision making authority. The decision of maintenance, repairing work, up-gradation, and even remodeling of the home is in your hands. You can also set important timelines and budgets as per your requirement.
As you do not share walls and common spaces with others in the community, you have the freedom of privacy. You are away from noisy neighbors and can do as you wish with your property.
Single-family homes come with private spaces for garage, attic, basement, and cover a wider area as compared to townhouse homes. This gives freedom of space for your pets, gardening, and other activities.
The decision of which property is right for you depends on your needs and your budget goals. From the financial aspect, single-family homes offer higher appreciation and resale value. Therefore, if you are looking for long term profitability from a buy and hold strategy, then a single-family home is the right choice for you.
On the other hand, townhouses are easier to rent out as it provides easy access to amenities and is at central locations. So, if you desire profits from rental properties, then the townhouse is the better option.
Now that you have compared the features and advantages of both the housing styles, choosing the right kind one for you should be an easy decision!