Townhouses
are two or more stories houses. They are bigger than condominiums but are
smaller than family houses. They share one or two common walls with neighbors, horizontally.
Although, they share common walls, owner has to pay tax on his side of
property. There is a management association that deals with common property
units.
Due to
so many plus points, townhouses are often a favorite for many first time homebuyers.
They are less costly and they cost low maintenance. Dean believes that one of
the main reasons why town houses are favorites of masses is their less cost. They
offer separate boundary walls, a plus point that condos miss. Moreover, they
are far less expensive than family houses.
Dean
Graziosi is a famous real
estate tycoon.
He owns multimillion-dollar business. Most of Americans know him from 1998, due
to his longest running infomercial series on national American TV channels. Dean
is a bestselling author. He books are acclaimed for important information on
real estate. He has also shared his life struggle and career journey in one of
his books.
His
books and his sermons are a source of motivation for new comers. He is a true
example of successful
entrepreneurs.
Let us have a look on Dean Graziosi's top seven tips on purchasing townhouse.
1.
If
you want to know all about any form of property, located in any area, city or
state, the best way is to contact a real estate agent. Real estate agents know
all about properties. Good thing is that you do not have to pay; seller will
pay commission of the agent.
2.
Search
for the areas where townhouses are located. In most of the cities, townhouses
are located where there is fewer number of condos, a big plus for value of the
property. Explore all of the areas and choose one, which is best suitable for
you.
3.
For
a more thorough search, see local as well as online listings. Internet gives
you broader options. You can make your search customized. However, it is hardly
advised not to trust online seller completely. There are more chances of fraud
and scams. Conduct detailed searches in the property, never neglect role of an
association in any townhouse community.
4.
Make
an estimate of all of the costs. Making an estimate of the costs will help you
in evaluating available mortgage options. Purchase of a townhouse and applying
for a loan is not much different from purchasing any other type of property. You
must keep an eye on all of the legal terms and conditions.
5.
Visit
your townhouse before making a final say. You must look for all of indoor and
outdoor features. Make visits at day as well as nighttime. Check how much
sunlight is available. Search for the neighbor and make sure that there are no
reported or unreported delinquent or any other criminal activities.
6.
Talk
to the association. Check rules and regulations of the association. Also, make
sure that you understand all of your right and your duties.
7.
If
possible, visit neighbor's house, with which you are sharing parting walls. See
which room is connected with your house. If you found out after purchasing your
house that your bedroom is connected with neighbor's TV lounge, you are in
trouble.
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