Why Buy a Townhouse – 7 Reasons That Makes Every Bit of Sense
Have you ever thought of something along the lines of “why buy a townhouse”? If so, you’re not alone. Maybe you’re asking yourself, should I buy a townhouse – either way, we’ve got you covered.
Preparing to purchase real estate is a stressful yet exciting time.
There are lots of aspects to consider, prepare for, think about and, of course what to ask when buying a townhouse.
It can become a little overwhelming. That’s why it pays to take it step by step, as well as properly consider your options.
And for most people’s first property purchase, they come faced with the question of whether to buy a standalone house, a unit, a townhouse or an apartment.
Now, there are pros and cons to each of these types of properties. But in this helpful article, we’ll share seven answers to why buy a townhouse.
By the end of the article, you’ll know whether buying a townhouse is right for you.
If it is, brilliant – you can move on to the next step and look for a townhouse that’s suitable for your needs.
If it’s not the right move for you, you can begin investigating more appropriate options.
1. More Affordable
To put it simply, a townhouse in any suburb will tend to be more affordable than a standalone house.
Even run-down, in dire need of repair houses, tend to fetch more because often the land is the appreciating asset, while the house is a depreciating asset.
However, for the savvy buyer who has their heart set on a particular area, buying a townhouse means that they can buy into the desired suburb without a difficult-to-service, massive mortgage.
A townhouse will be a few hundred thousand lower than a house nearby as a rule of thumb.
This is a massive saving when it comes to buying real estate, and you’ll notice the difference in your mortgage repayments.
Also, a lower mortgage means less interest paid throughout the loan, so you’re saving more money than the folks who bought the standalone house down the road.
2. Often Newer and Modern
Most townhouses are relatively newer builds, at least when compared to houses.
This is for certain if you’re buying an off the plan townhouse or buying brand new.
This is a massive benefit because, like all things, houses are prone to wear, tear and disrepair with age.
A new townhouse means that everything is brand new. The roof, the flooring, the appliances, the windows, the doors, the yard and the garage. And it all comes with a builders warranty to boot.
3. No Problems
With a townhouse, you are less likely to have to deal with costly and headache-inducing problems. Things that can occur with houses are a leaky roof, a bodgy foundation, broken dishwashers, outdated and unsafe wiring (which can be a fire hazard).
Another bonus of this is reduced heating and cooling bills, as modern townhouses are exceptionally well insulated compared to old houses.
Older houses are drafty and poorly insulated, so chances are the inhabitants run the heating and cooling all year round. This means massive energy bills.
Townhouses are eco-friendly and present massive efficiencies in heating and cooling.
4. Well Designed
Also, as well as being newer and less likely to require expensive repairs, townhouses are often extremely well-designed. This means that they’re a pleasure to live in.
From ultra-modern kitchens to sleek living areas, you’ll feel comfortable, safe and laid back in a brand-new townhouse.
5. Added Privacy
Compared to an apartment, townhouses offer increased privacy for inhabitants.
In an apartment complex, you’re often sharing common spaces. From hallways, elevators shared gyms and pools and other common areas – you’ll always run into someone.
This can be not very pleasant if you value your privacy at home.
While still offering compact living, a townhouse boasts a degree of privacy that apartments cannot match.
This makes them an ideal purchase for those who prefer a smaller abode but still value their privacy.
Although townhouses can have shared walls, it is rare to hear the other homes occupants going about their day due to building quality and insulation.
Townhouses are perfect for those who believe in privacy.
6. Ideal for Families
Again, a townhouse is a better choice of property than an apartment – but especially for families.
You have no outdoor space except a balcony in an apartment, which is hardly an ideal play area for your children.
Townhouses often have alfresco areas, and some have decent sized backyards, so the kids can run and play and enjoy the outdoors.
Also, if you’re a green thumb, you can get in the garden – some townhouses offer front and back yards, so you can plant veggies, herbs and other plants to enjoy while you’re outside.
In addition to better outdoor areas, townhouses also have larger square metre living space when compared to apartments, with some even having a rumpus room or a play area.
This means the kids will have enough room to keep entertained indoors, too.
Furthermore, parents can enjoy larger bedrooms, often with walk-in robes and en-suites, than a smaller apartment.
7. Less Maintenance and Upkeep
While all properties require maintenance and upkeep, a townhouse, due to its smaller size, tends to require less than a house.
This is great for people on a budget, as home maintenance and repairs are costly.
Also, if you’re handy with the tools, you can probably manage most home maintenance tasks yourself.
A bonus in most townhouse developments is that the owner’s corporation maintains common area lawns, gardens, and other areas, usually by a caretaking company.
In this helpful article, we’ve shared seven answers to the question: “why buy a townhouse”.
From affordability, minimal problems, and the fact that they are ideal for families and require less maintenance and upkeep, we’ve covered the answer to your question.
By now, you should be confident if a townhouse is a right purchase for you.
If buying a townhouse is on your radar, then be sure to check out these townhouse buying tips; they will get you heading in the right direction. And if you are considering buying for a rental investment, check out this article on positively geared properties.
And this article is if you are considering buying a townhouse as a rental property.