Town Homes - a Good Housing Alternative

An option often overlooked by those desiring to purchase a home is purchasing a town home.  The traditional single family home is not the ideal situation for all.    For those just starting out, affordability may be an issue.  An empty nester may want to downsize and not have the responsibility of yard work and other maintenance.  Or it can be simply that a traditional single familly home doesn't suit your current lifestyle.

When you own a town home, you own the title to the space within the walls of your living quarters.  Common areas such as hall ways,  roofs, parking lots and green space are shared with other owners in the complex.  You typically have units on either side of you with a common wall.

Town homes are attractive to many buyers because they offer them the chance to own their own residence and build equity in what is usually a lower cost than a traditional, single family detached home. 

One factor to consider is that town home owners generally pay an association fee.   These fees defray the cost of maintenance, repairs, insurance and upgrades to the communities common areas as well as the cost of maintenance for the exterior of the buildings and roofs. 

However, if you would rather spend your free time doing something besides mowing the lawn, painting the outside of the house and weeding the flower beds, then a town home may be for you.

Is a town home right for you?  Make an informed decision by weighing the pro's and con's.  Talk with others who own a town home and preview other town home communities to compare the values and how they are run and maintained.   Ask your Real Estate professional about the rules and regulations for the various communities. 

Town home living is not for everyone, but it can be a very attractive alternative for those desiring to own instead of renting.   Call us today to find out more about Magnolia Park Town Homes.  You will be glad you did.