Is a Newly Developed Townhouse Right for You?
Newly launched townhouses are commonly seen as an attractive option for property buyers, especially for first-time buyers looking for a starter family home. There is, however, a lot of discussion on whether townhouses, single-family detached houses, or condominiums are better, with real estate forums and websites such as CanDoFinancefilled with arguments for and against each option. Some of the main arguments in favour of townhouses are that they are not only more spacious and aesthetically pleasing than condos but also come equipped with modern amenities. New builds also mean that expensive repairs aren’t needed immediately after moving in. While there are many benefits to buying a new townhouse, it is only one of the multiple options available on DDProperty and other real estate websites. Before you dive in and sign off on a mortgage on a townhouse, look at all of the positives and negatives to decide if it is the right decision for you.
1. Amenities
Both townhouses and condos have advantages and disadvantages when it comes to amenities. Many luxury condominiums come with a swimming pool, gym, playground, or perhaps even a library or shop for tenants. Some townhouses are built in developments which also have these communal facilities but others aren’t. Many condos, however, don’t have their own washing machines and tenants have to use a communal laundry room instead, the cost of which can greatly build up over time. Townhouses may sometimes lack luxury amenities but they do have the essentials such as their own laundry facilities and private gardens. Even if these gardens are considerably smaller than those found in detached houses, they are still ideal for those who just want somewhere to relax outside. Living in a townhouse offers more freedoms such as the ability to have a grill on the patio as well as generally having more storage space and are closer to local facilities such as supermarkets. Condos may have a basement storage area, but these are more difficult for residents to access regularly. Weigh your wants and needs for your new home and decide if a condo, single-family home, or townhouse has the most amenities you require.
2. Community
Townhouses are preferable to those who want peace and quiet while still maintaining some level of security and proximity to neighbours that a detached house lacks. Living in an apartment complex often has a community feeling that townhouses lack. You may form connections with your immediate neighbours in townhouses, but not always with other neighbours in the street or neighbourhood. On the other hand, noisy or disrespectful neighbours can be a bigger problem in an apartment building than a townhouse. Townhouses aren’t completely free from troublesome neighbours, but the impact is lessened without neighbours on all sides. If you buy rather than rent, this makes it much harder to pack up and move away if there is an ongoing problem with neighbours. Apartment Ratings recommends buying or renting a corner unit to lessen these issues. Condominium regulations can often be tighter on minute rules. You could be chastised for as little as leaving your newspaper on your mat for too long. In a townhouse, you are generally free to do what you want within the law. For instance, you can paint your house’s interior a different colour if you choose to, which is impossible to do with a condominium.
3. Expenses
The increased floor space means that townhouses are generally more expensive than apartments, especially in urban areas, although they do provide more space than apartments in the same price bracket and are still much more affordable than detached houses. It isn’t always preferable to be tied down to such a large mortgage, however. Renting a townhouse can be equally expensive and it may be cheaper in the long term just to get a housing loan. Choosing a townhouse or even a detached house in a suburb is an option, but it does require a longer commute with public transportation not always being up to standard, which eats up both time and travel expenses. Townhouses will also have additional expenses such as roof repair and grounds keeping that are the building owner’s responsibility in an apartment building, and cost more to decorate and furnish, although these costs will still be much lower than a detached house.
4. Parking
A secure parking space is a large issue for property seekers. Townhouses have the advantage that they usually have their own garages, which also increase the home’s storage space further, or at least a driveway for parking. However, some townhouses have to rely on on-street parking and luxury condominiums usually have secure parking facilities for tenants anyway, even if they don’t hold legal possession of them.
5. Usage
Your lifestyle and future plans will greatly affect your choice of accommodation. Condos aren’t always the best fit for families with children or pets, especially if the family continues to expand. A townhouse, however, maybe too much maintenance for a single person who spends a lot of time out of the house. If you don’t plan on starting a family, it will feel like a waste to spend money each month on rooms you aren’t using. Although if you require office space to run a business or if you have always wanted your own library or exercise room, this is another advantage of townhouses, as you can have your own space which doesn’t intrude into other parts of the home. It may also be better for roommates sharing a house, as each resident has more personal space while still providing plenty of communal living spaces.
There is no right or wrong answer to whether a townhouse is the best type of dwelling. It will depend on your needs and circumstances. Many townhouse residents, however, consider them to be a happy medium between an apartment and a detached house, offering the best of both worlds. Look carefully at all of your options and consider different types of homes while you are house hunting and you can make an informed decision on whether a townhouse is the best option for you and your family.
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