This article will explore if a townhome would make a good investment as your first home and what to look for when considering buying your home.
Townhomes can be an excellent investment for a variety of reasons. However, the most important thing to consider when buying any home is what you want out of the house. This will considerably impact your decision process and may even help you determine if townhouses are the best option for you.
What Factors Should I Look At To Find The Right Type Of Home?
The most significant factors in determining whether townhouses or single-family homes are better suited for you include:
1) Your personal preferences
2) If custom building, does the builder offer townhomes
3) Proximity to amenities in the townhome community
5) Length of townhome warranty
6) Property taxes
7) How long do you plan to live in a townhome?
What Are Some Considerations When Purchasing A Townhome From A Custom Home Builder?
When buying townhomes from a custom builder, many factors go into purchasing decisions. You must consider your budget, location preferences, size and type of townhouse, lot rent if any, HOA fees if any, and length of townhome warranty.
When you find a builder who builds townhouses, make sure they have been in business for at least three years. This shows the experience and leads to higher quality workmanship.
It is always wise to review project examples and testimonials about their projects and customers before deciding who to contract.
What Are Other Questions To Consider When Buying A Townhome?
Is townhome living better suited for those just starting? Are townhome communities filled with young families? What age do townhomes appeal to the most?
The townhouse lifestyle is best suited for singles or couples without children. There are certain townhouses built in the 1970s and 1980s that have townhouses that would be more suited for younger adults, but the majority of townhomes on the market today are not family-friendly.
Larger single-family homes typically appeal to retired couples, while townhomes tend to appeal to singles, couples without children, or retired individuals who want a smaller space either within walking distance of amenities, downtown areas, or proximal to public transportation. Typically townhome buyers are 30-50 years old.
Are Townhouses Considered Starter Homes Or Long-Term Investments? Or Maybe Both?
Townhomes can be an excellent long-term investment as there is typically high demand for townhomes due to their convenience, price point, and quality construction.
However, this type of housing also serves as a perfect starter home with low maintenance costs, townhome associations with on-site amenities, and location.
In Summary, Understanding What Model Fits You
Are you looking for a custom home builder who provides a myriad of custom choices? Contact McCalls Home Builders today to learn more about our neighborhood plans. It’s not just your future home you’re building; it’s your community.