For those in the market for a new home, townhouses present a number of benefits that may appeal to many potential buyers. These types of homes offer a variety of convenient features that buyers may appreciate. However, many people confuse townhouses and condos. If you have clients interested in this type of home, you want to make sure you understand the difference, as well as the pros and cons of buying a townhouse, so that you can provide quality advice and help your clients make the best possible decision. Here is what you should know.
Condo vs Townhouse: What’s the Difference?
A townhouse is a home that shares at least one wall with a next-door property. A condo, on the other hand, is a single unit within a larger building. Townhouses are often multi-floor homes and sometimes they have design differences from adjoining homes.
Townhouses will also often come with a small piece of land. Condos, which have a number of units within a building and then shared common land, are structured differently.
Often, you will find townhouses as a part of a planned community or even a gated neighborhood.
Now that you better understand the differences between townhouses and condos, let’s explore the benefits and drawbacks of living in a townhouse.
What are the Benefits of Buying a Townhouse?
Often, what brings people to townhouses are the cost and the location. Townhouses are generally more affordable than single-family homes because they are smaller, share walls, and come with smaller plots of land. However, they often offer the convenience of living near urban areas — so that people can take advantage of the benefits of a city while still having their own piece of property.
Since the lot is smaller, that also means owners do not have to worry as much about the maintenance of the home and yard. Busy owners will find this to be a tremendous benefit.
If the home is part of a community with an HOA, the buyer will have to deal with the rules and guidelines put forth by the organization, but often the HOA offers benefits of its own, such as pools, tennis courts, maintained outdoor spaces, and fitness centers for everyone within the community to enjoy.
Finally, since owners live more closely with their neighbors because of shared walls and connected yards, the townhouse setup often helps to foster a sense of community. People who enjoy living in areas where they know their neighbors will find this appealing as well.
What are the Disadvantages of Living in a Townhouse?
If you have clients considering a townhouse, you also want to make sure you are upfront with them regarding potential drawbacks as well. Specifically, since the townhouse does sit on a small piece of property and shares walls, owners need to be prepared for less privacy. The shared wall may mean that you can hear more about what is going on in the neighbor’s home. The small yard plots will mean that time spent outside might involve more neighbor interactions than it would in a single-family home.
The HOA in the area will also impact a person’s satisfaction with the living arrangement. If the HOA has a lot of rules, owners need to be prepared to follow them, even if they feel intrusive. Some HOAs are laid back while others will dictate details such as how owners can landscape their property. Knowing what to expect from the HOA, and how much a person will owe in dues, will greatly impact overall satisfaction.
How Colibri Real Estate Can Prepare Agents to Sell a Variety of Property Types
As a real estate agent, you want to be prepared to sell a variety of different types of properties. The better you understand the concerns people might have about townhouses and the situations where living in one might be appealing, the easier you will find it to serve clients who desire this type of housing arrangement.
To help you prepare to sell a variety of different types of properties, partner with Colibri Real Estate, the online real estate school committed to your success. Here you will find educational opportunities and resources that can help you expand your knowledge base and more effectively build your niche as a real estate agent. Nurture your career through professional growth and get started with Colibri Real Estate today.
