Whether you’re a seasoned investor or a first time homebuyer with a limited budget like most young couples and families, buying a townhouse is an appealing investment, even if you’re just buying it to use as a rental property. There are a lot of factors that come into play when it comes to the benefits of purchasing a townhouse including but not limited to the following.
Townhouses are always more affordable than single family homes and they also typically include higher end interior amenities. While they may have less property and square footage than a single family home, the initial costs in most cases are significantly less. There are several things to consider before buying a townhouse, and one of them is considering the cost versus the quality as well as the amenities you’ll have access to. If you’re in a position to put a significant amount down on a home, you’ll be able to purchase a great townhouse.
Basically it all comes down to what you’re looking for, your lifestyle and your budget. It’s important to have a clear idea of what you want, a good example being if you need a 1, 2 or 3 bedroom townhouse. Regardless, townhouses are the ideal way to own a home when you’re just starting out whether you’re a family or a free and easy couple starting out.
Location, Location, Location
With this new fast passed world where getting couples, engaged in the corporate world and busy families, a townhouse is the perfect place to live. This also applies to young families, but either group these days don’t have a lot of time to spare. One of the most significant benefits of townhouses is that they’re usually more conveniently located than homes making it possible to live in an urban setting with all of the essential amenities.
In most cases, owning a townhouse makes it easy for couples and families to have access to all the benefits of the city including family friendly activities, schools and colleges as well as dining experiences, nightlife venues and the corporate world where they’re employed.
Amenities and maintenance
Most townhouses come with special amenities including decks, personal garages or covered parking, security services and more, all helping provide cohesive, luxury living on a budget. It would be impossible to find a single family home with all the incredible amenities most townhouses are packed with anywhere near the price range or in as good of a location. Even the interior accents from the kitchen appliances, to the countertops, designer bathrooms and more are impressive, better than you could possibly expect from single family homes in a moderate price range. In addition, You can also expect the building to be well maintained as well as the landscaping and any available play areas provided for children if applicable.
Selling the Townhouse
Anyone who invests in a townhouse that’s in a good location will in most cases have an easy time selling it and the affordable price will definitely quicken the turnaround time as well. Most savvy real estate investors will tell you that for young couples and families, townhouses are viable investments because of their affordability and appreciation value.