The Rise of Townhomes
If you follow the real estate market, you may have noticed that townhome sales in Gainesville, GA., and throughout the country have consistently been on the incline. Purchasing a home is one of the biggest financial decisions you will make, so it is important to explore all your options, including townhomes, condos, and of course, the traditional single-family house.
People often think a townhome and condo is the same thing, and that’s actually not the case. Both are great alternatives to the single detached dwelling, but there are quite a few key differences between the two.
A condo is a privately owned individual unit within a building or other units. Condos are oftentimes found in high-rise buildings, and condo owners jointly own shared common areas, such as pools, garages, elevators, and gyms. The Homeowners Association (HOA) typically manages the building, its grounds, and its interior common spaces. Condos tend to be cheaper to purchase since you’re not investing in any land, but the HOA fees are usually higher due to there being more jointly-owned spaces to be managed.
A townhome is an attached home owned by it’s resident. The resident owns the structure and the land it sits on. One or more walls are shared with an adjacent attached townhome. Think more of a single-family home but connected. You will typically have a bit more privacy with a townhome than you would with a condo. The HOA manages the common area, which includes grounds, and in some cases, roofs and exterior structures. A great example of a townhome community is Sandridge Commons, nestled in our very own Gainesville, GA., right off Thompson Bridge Road and next to Primrose Academy and Diamond Auto Spa. This community is very well taken care of and extremely private. It was developed in 2007, and multiple new townhomes were added to the community in 2018 and 2019.
For many people, there are many advantages of purchasing a townhome rather than a traditional single-family home. The most common demographic for townhome purchases tends to be retirees, first-time homebuyers, young families, and single women. In this article, we will explore the pros of purchasing a townhome as well as the cons, to help you decide if a townhome is the right purchase for you and your family.
Pros of purchasing a townhome
A townhome typically requires much less maintenance than your traditional single-family home. You won’t need to invest in a lawn mower and other lawn equipment, or a lawn service, as all grounds are managed by the HOA. This is a huge advantage for many people who want to avoid this hassle; especially retirees who may be physically unable to get out and tend to their own yard, and for some single women who may have no interest in yard work.
As an added bonus, depending on the townhome community you buy in, you may not be responsible for the maintenance of your roof and the exterior of your home.
Townhome communities often come with their fair share of amenities for residents to enjoy; from walking trails to dog parks and fire pits, or even a swimming pool, tennis courts, and a clubhouse, there is often something for everyone.
Not all townhome communities have these amenities, and if yours doesn’t, no worries! You can still get out and enjoy your neighbors and family on the common grounds, or go for a bike ride or walk the dog along the sidewalks.
With neighbors just on the other side of the wall, a lot of people, especially women living alone or with small children, feel a sense of safety that they wouldn’t otherwise feel in a house deserted from neighbors, or even in a neighborhood with a neighbor a few yards away. It’s also not uncommon for townhome communities to be secured with a gate.
You probably aren’t going to purchase a home in a townhome community if you don’t enjoy being around other people, so you’re likely to find that neighbors will turn into friends who will be happy to enjoy the neighborhood amenities with you, and they will conveniently be there for you if you ever need anything.
Townhome communities are oftentimes located in town, so you will likely be in walking distance to popular restaurants, shopping, and parks. If it’s not quite walking distance, you will only be a short drive away.
Cons of purchasing a townhome
If you need or want a large private yard to enjoy, purchasing a townhome may not be right for you. While there is typically plenty of common grounds to enjoy, your private yard will be limited.
Purchasing a townhome may not be the right choice if you have a large family. With the square footage typically being smaller than a traditional single-family dwelling, the townhome might begin to feel over-crowded with multiple family members. Also, without a yard, you will not have a place for children’s trampoline’s, swing sets, etc.
If you have a large dog or multiple pets, owning a townhome might not be the best option for you. Your pet will not be able to go outside and run freely, so you will need to be prepared to take him or her out multiple times a day and night on a leash.
If you have the need to store multiple vehicles, a townhome probably isn’t right for you. You will typically have a small garage, big enough to fit one, possibly two vehicles, and alternative parking is limited.
“Sometimes the key to happiness is finding the key to the right home.”
Whether you are recently retired and looking to downsize, or you’re a first-time homebuyer looking for an affordable and convenient option, purchasing a townhome might be the perfect solution for you! Gone are the days of worrying with lawn maintenance, and you will have a sense of community in a safe and tight knit environment, with the possibility of many amenities to enjoy! If you are currently living in a townhome community and have advise for anyone considering making the move to a townhome, we would love to hear from you in the comments below!