A
townhouse is a house that is bigger in size than a condominium and smaller than
a one unit family home. It shares common boundary walls with your left and
right neighbor. It is not necessary that you must share both left and right
side of your property. You pay tax on your side of the property. A townhouse
usually comes with a front yard or backyard. Townhouses are usually two or three stories
high. But, unlike condos, you own all the stories.
Now that
you know all basics about a townhouse, you must also know about pros and cons
of purchase of a townhouse. Knowing pros and cons on purchasing a townhouse
will help you making a final say on the subject. Dean Graziosi believes that
one must search both sides of the coin rationally. A thorough and rational
search into characteristics of a property will help you make full and final
decision.
Dean
Graziosi is an expert
realtor. He
has dealt with all sorts of properties. From single one-unit bungalows, to
large mansions, from waterfront properties to condominiums, Dean knows
important facts of all of the property forms. Dean started his real estate business from age of 18. A run-down
apartment building was his first real estate deal. After successfully making
this deal, Dean paved way for a successful and fulfilled career.
Today he
has a multimillion-dollar business, he owns his own mansion, and he is a
bestselling author and a very good mentor. His live events are a ray of hope
for real estate aspirants. Let us have a look on pros and cons of townhouses as
described by Dean Graziosi.
Pros of Purchasing Townhouses:
- They are less costly to build. You can make extra spaces by adding one or more stories. You can also add extra homes (one or two additional rooms, with a small kitchenette, separate entrance and washroom). However, to make an extra house, you must consult your townhouse association.
- Sharing of a wall with your neighbor reduce the costs of material.
- Due to a shared wall, the heating and cooling costs are also low.
- Repairing costs are less.
- The responsibility is less than owning a single family home.
- You enjoy a separate boundary wall of your own, that you won't get in a condo.
- A joint association manages common areas like swimming pool, garden hallways etc. In this way, there is very little responsibility of outdoor maintenance on you.
- By adding a fence to your front yard, you can create a small garden of your own.
Cons of Townhouses:
- At some points, you might have to compromise on your privacy.
- You might have to experience noisy neighbors.
- In some cases, room arrangement is neglected causing trouble for one or both owners. For example: parting bedroom of one house and recreation room of the other with a single wall.
- Your house might lack windows therefore blocking heat and sunlight. You can overcome lack of windows by adjusting color of the walls, position of the mirrors and fancy lighting. Always visit townhouse during daytime. This will help you find out how much light your townhouse receives.
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