What Is a Townhome? What to Know Before Buying a Townhouse

What is a Townhome? Why Buy One?

Buyers considering townhomes might be on the right track if they're looking for a unique real estate option that offers the benefits of both a single-family home and an apartment. A townhome can provide more seclusion, room to move around in, and less expensive rates than typical dwellings, and can be a great first property to buy. Before you commit to buying a townhome, it's essential to compare and contrast with condos and consider the options in the area you are looking in.

What is a Townhome?

A townhome is a residential property typically consisting of two or more attached units sharing common walls. Unlike a single-family residence, townhomes are generally two stories high and possess their own entryway. There are many townhome communities with amazing amenities with more room than an apartment but less upkeep than a single-family dwelling.

Townhomes can vary significantly in size, from single-bedroom units to expansive four-bedroom residences. Many townhomes also feature amenities such as garages, balconies, patios, and even pools. Unit size varies based on the number of bedrooms and square footage and may also include added features like fireplaces, high ceilings, backyards, or decks.

Townhomes offer a distinctive lifestyle that blends the perks of single-family dwellings, apartments, and condos. Let's discuss some of the distinct advantages of townhome ownership.

Advantages of Owning a Townhome

Living in a townhome has many benefits compared to other forms of real estate, including affordability, the provided maintenance of a homeowners association, and the opportunity to live in an ideal location.

Townhomes are generally more affordable than single-family homes and require less maintenance due to shared exterior upkeep. In addition, you don't have to worry about mowing your lawn or shovelling snow when living in a townhome community.

Most townhome dwellers can also take advantage of shared facilities, such as pools and gyms, without the expense or upkeep headaches. Furthermore, living in a community with other townhome owners offers an opportunity for socialization that can help create lasting relationships with neighbours and friends alike.

Lastly, residents in townhomes are able to have more convenient access to urban areas where there may not be many single-family homes available. Residents can prioritize proximity to amenities like parks, restaurants, shopping, public transportation, and more in a townhome.

Possessing a townhome provides numerous perks, including more seclusion than an apartment or condo and less upkeep than a single-family home. There are some further distinct differences between owning a townhome and owning a condo that should be considered before making any decisions.

Differences Between Townhomes and Condos

What's the Difference Between a Townhome and Condo?

Many people may consider buying a townhome or a condo instead of a single-family home due to the convenience and cost savings. Although both may offer the same basic amenities, some key differences include entrance types and the ownership of outdoor spaces.

Townhomes usually have their own private entrance, while condos typically share common hallways or elevators with other units in the building. If you're seeking more privacy and don't want to encounter your neighbours constantly, a townhome with its own entrance is an ideal choice. It also means that any visitors will need to use a separate entryway for individual units, providing an extra layer of security.

Another significant difference between townhomes and condos is ownership of outdoor space. Townhomes usually come with their own yard or patio area, while condos do not typically have this feature unless they're an amenity shared with the larger community, such as a building with shared gardens or recreational areas. Further, townhome dwellers own the home itself as well as the land surrounding it, unlike condominium owners.

It all boils down to personal preference. If you prefer more privacy from neighbours or want access to outdoor spaces without having too much responsibility over home maintenance costs, a townhome could be an excellent option for you. Knowing these key differences between townhouses and condominiums will help make sure whichever option you choose fits your lifestyle needs.

Location Considerations When Buying a Townhome

When it comes to buying a townhome, location is key. Townhome ownership offers more flexibility than single-family homes, so you can ensure you're in an area with easy access to your preferred amenities like grocery stores, restaurants, parks and public transportation. Visiting the neighbourhood at various times of the day is a great way to get an understanding of how it functions during peak hours and whether it's right for you.

Finally, consider how close services such as hospitals and fire stations are located. This can be especially important in case of emergencies where every second counts.

Buy a Townhome to Check All of Your Boxes

Living in a townhome can provide a lavish lifestyle that balances the responsibilities of home ownership and lack of privacy with apartments and condos. Whether you are looking for an affordable place to call home or want to explore your options, buying a townhome is worth considering.

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