8 Reasons Buying A Townhome Is Better Than Buying A Condo
Owning a townhome definitely has its perks; the biggest ones being no rules, no fees, more space and last but not least, freedom! Here are some of the most important factors to consider when thinking of buying a townhome and why it is better than owning a condo.
1. CONTROL Nobody makes decisions but YOU! There is no condo association raising fees and making rules for the homeowner. If you don't follow some of the tedious rules set forth by the association, you could end up with some pretty hefty fines. In a townhome, you can make your own rules and not worry about fines, notices, and annoying board members calling you to come to monthly meetings.
2. OUTDOOR SPACE- A townhome may offer some type of yard, even if its small its still an outdoor space that can be enough to let the dog out. You may even be lucky enough to have a full size roof deck on top of your townhome, whereas in a condo you would be lucky to get a small balcony or maybe a shared common roof deck for all the tenants to share. A townhome definitely offers a larger, private outdoor space.
3. MORE SPACE - A townhome will usually have a basement or attic ( maybe even a spare room) which allows for more storage space. In a condo, you may only get a 10x10 storage unit in the basement of a building.
4. GETTING A LOAN - Your chances are reduced for qualifying for a mortgage on a condo than a normal single family property. FHA Lenders require different guidelines for condos including an 80% occupancy rate of all units in order to lend money. If you are buying a townhome you don't have to worry about occupancy rates and your neighbors not keeping up with their monthly condo fees which will also impact a new buyer getting loan.
5. MULTILEVEL - Having a 3 story townhome allows for more privacy especially if you have a few kids and you need to get away for a little while in your basement. Instead of having bedrooms on top of each other, you can be more spread out and possibly live on a different level than your living space. This will also help the noise level. You don't want to be watching TV on level 1 volume because your family is sleeping 8 feet away. There probably is more direct sunlight as well since there are more windows in a townhome and you have a few angles to get light from. It's nice to have separate floors for your dining and entertaining and sleeping and bathing.
6. ATTACHED GARAGE - If you are lucky, you may even have a garage attached your townhome, if not in the backyard. No need to find parking anywhere because it's right at your door, which can save tons of time and energy instead of hunting for street parking.
7. CONDO FEES - There are no monthly HOA Fees when living in a townhome, usually condo fees in a high rise building can be anywhere between $200-$1000 a month! Most don't even include utilities. HOA fees range depending on the development and from property to property, and fees aren't set in stone, and can be raised at anytime whereas if you live in a townhome, you don't have to worry about a set fee every month.
8. PRIVACY - With neighbors so close, privacy can become an issue. By sharing walls with neighbors there's a pretty good chance you will be able to hear them as well as them hear you, which can be quite unpleasant at times. If someone above you had hardwood floors, you will most likely be hearing every footstep. For a condo walls are usually thinner than a townhome making it more of an issue. Townhomes are constructed better and usually have walls made of soundproof material so you will never hear your neighbor on either side of you if you are attached.
The advantage of a townhome over a condo is that you are living more independently. You'll have a little bit of yard, you will enter through your own front door and you may even be to grill out back. You may only share one wall with your neighborsnot the many walls, hallways, floors and ceilings that can create issues and fines in a condo.
1. CONTROL Nobody makes decisions but YOU! There is no condo association raising fees and making rules for the homeowner. If you don't follow some of the tedious rules set forth by the association, you could end up with some pretty hefty fines. In a townhome, you can make your own rules and not worry about fines, notices, and annoying board members calling you to come to monthly meetings.
2. OUTDOOR SPACE- A townhome may offer some type of yard, even if its small its still an outdoor space that can be enough to let the dog out. You may even be lucky enough to have a full size roof deck on top of your townhome, whereas in a condo you would be lucky to get a small balcony or maybe a shared common roof deck for all the tenants to share. A townhome definitely offers a larger, private outdoor space.
3. MORE SPACE - A townhome will usually have a basement or attic ( maybe even a spare room) which allows for more storage space. In a condo, you may only get a 10x10 storage unit in the basement of a building.
4. GETTING A LOAN - Your chances are reduced for qualifying for a mortgage on a condo than a normal single family property. FHA Lenders require different guidelines for condos including an 80% occupancy rate of all units in order to lend money. If you are buying a townhome you don't have to worry about occupancy rates and your neighbors not keeping up with their monthly condo fees which will also impact a new buyer getting loan.
5. MULTILEVEL - Having a 3 story townhome allows for more privacy especially if you have a few kids and you need to get away for a little while in your basement. Instead of having bedrooms on top of each other, you can be more spread out and possibly live on a different level than your living space. This will also help the noise level. You don't want to be watching TV on level 1 volume because your family is sleeping 8 feet away. There probably is more direct sunlight as well since there are more windows in a townhome and you have a few angles to get light from. It's nice to have separate floors for your dining and entertaining and sleeping and bathing.
6. ATTACHED GARAGE - If you are lucky, you may even have a garage attached your townhome, if not in the backyard. No need to find parking anywhere because it's right at your door, which can save tons of time and energy instead of hunting for street parking.
7. CONDO FEES - There are no monthly HOA Fees when living in a townhome, usually condo fees in a high rise building can be anywhere between $200-$1000 a month! Most don't even include utilities. HOA fees range depending on the development and from property to property, and fees aren't set in stone, and can be raised at anytime whereas if you live in a townhome, you don't have to worry about a set fee every month.
8. PRIVACY - With neighbors so close, privacy can become an issue. By sharing walls with neighbors there's a pretty good chance you will be able to hear them as well as them hear you, which can be quite unpleasant at times. If someone above you had hardwood floors, you will most likely be hearing every footstep. For a condo walls are usually thinner than a townhome making it more of an issue. Townhomes are constructed better and usually have walls made of soundproof material so you will never hear your neighbor on either side of you if you are attached.
The advantage of a townhome over a condo is that you are living more independently. You'll have a little bit of yard, you will enter through your own front door and you may even be to grill out back. You may only share one wall with your neighborsnot the many walls, hallways, floors and ceilings that can create issues and fines in a condo.
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