Townhome ownership

[CarLuver]

i have never lived in anything other than a single family house . i wish to purchase a home for my son outright . my budget is $500k . in my area $500k will get you a townhome .

seeing i never owned a town home , what are the advantages and disadvantages of one. ii know there will be usually a hoa fee . I asked my son and he really does not seem to want the work of a single family home , which seems pretty common these days for people his age .

So enlighten me on townhome ownership

 

[OilStained]

If it’s anything like a Condo, first to down and last to go up.

Best for you to find a good real estate agent in your area.

 

[iCurious]

Downside would be the neighbors next door if they are loud it may become annoying.

 

[JayhawkRoy]

There are a lot of questions to ask before you leap.
Who pays for major maintenance items liked shared roofing, etc. If HOA how/when to they assess for capital maintenance repairs.
If owner is to pay and the maintenance items is shared with neighbors, how/who determines how the bills are paid?
If a duplex, cooperation between the owners is imperative, otherwise there could be disagreements over what should be done in common areas.
This is just a short list of considerations; I am sure there are more.

 

[Dave Hess]

Termites ?

Other owners might not want to get tented and your son will have to live with other’s decision.

HOA ?

Some are good, some are terrible.

 

[IndyIan]

Here, there is lots/most townhomes without a HOA. But I think the main thing is to check what the wall between the units is like as there is various types and qualities, and evaluate the neighborhood, and the folks on either side of you.
I've been in duplexes where you would never know that the one wall is shared, other than no windows.

 

[slacktide_bitog]

Maybe something like this Lennar home would be better, as you actually get a real house and no shared walls and shared problems, yet the lot is small enough to not be too high maintenance

 

[Pew]

I rent a townhouse built around 2003 from a friend but I've been here for 12 years now.

• Here the HOA takes care of everything outside, including siding that falls off from the wind. It's nice not having to do lawncare or shoveling the corner lot of my childhood home.
• Your neighbors will make it or break it. I luckily have pretty awesome neighbors who own their townhouse but I know some of the townhouses down the street have some issues with their neighbors.
  • If the townhouses are side-by-side, sound may not really be an issue. Mine are 4 units side-by-side and top-and-bottom. My neighbor upstairs is an older lady who walks around like she has cement blocks on and the previous owners of this townhouse some 15 years ago have complained about her to other neighbors.
  • Townhouses don't really have the luxury of a private backyard either; normally just some sort of cheap wooden divide.
• Try to do a showing towards the evening, when people are home after work. That way you can see how the neighbors are and how well sound insulated the unit is.

 

[CleanSump]

Parking. There is limited parking if he has guests. Day to day; Someone is always inconsiderate, violates the rules, and make parking a pain for the other residents. BTDT for two years and though the neighbors were quiet, it was only tolerable because I was on a temp "extended loan" to another activity.

 

[CKN]

i have never lived in anything other than a single family house . i wish to purchase a home for my son outright . my budget is $500k . in my area $500k will get you a townhome .

seeing i never owned a town home , what are the advantages and disadvantages of one. ii know there will be usually a hoa fee . I asked my son and he really does not seem to want the work of a single family home , which seems pretty common these days for people his age .

So enlighten me on townhome ownership

The move for younger people is against single family homes. As many of us on here get even older-most of us will see maintenance and upkeep of a home a liability. Young people already see this. What area are you in? Winter season really also takes it toll eventually on the outside of single family homes.

 

[PandaBear]

Pro: it is more affordable than a SFH but still have some "land" compares to condo, and you likely have a garage and no upstair / downstair neighbor who you have to deal with for noise issue. It is cheaper than a SFH for the same kind of physical quality and size in the same location.

Con: You are still sharing something and you have to pay HOA. You have to accept that your home will always be less desirable than a SFH so it will rise later than a SFH and drop earlier than a SFH.

It is a good choice if you know what you are getting into. I know a lot of families getting into townhomes because they have kids wanting to be in a good school but that's all they can afford. They compromise on a townhome instead of renting a SFH. If you are gifting it to someone, sometimes it is better to let them take the cash as a downpay for a SFH instead. Ask you son which one does he want before you just buy this for him.

 

[PandaBear]

Termites ?

Other owners might not want to get tented and your son will have to live with other’s decision.

HOA ?

Some are good, some are terrible.

Most HOA I know has a mandatory tenting schedule like once every 17 years, and for things like this neighbor cannot say no, so they put that in the HOA at founding time.

Here, there is lots/most townhomes without a HOA. But I think the main thing is to check what the wall between the units is like as there is various types and qualities, and evaluate the neighborhood, and the folks on either side of you.
I've been in duplexes where you would never know that the one wall is shared, other than no windows.

People can move and your greatest neighbor can turn into a nightmare without you having a say in it. That's even for SFH as well.

 

[SC Maintenance]

I rented a town home for a year a very long time ago. I thought it was OK. I can see the allure.

But I am pretty easy come / easy go. Yes you will hear your neighbor, you will have only your assigned parking spots, if your neighbor has roaches you will have roaches, etc etc. Old townhomes don't resell as well and they will be the first to crash if there is a crash.

Make darn sure the HOA finances are in order and there are no upcoming special assessments - for a new roof, etc.

 

[Passport1]

Never lived in a townhome. Seems like horizontal apartments with conjoined driveways.

 

[Dave Hess]

Our daughter wanted to buy a townhouse and we said NO !!!!
Small detached house or nothing….. keep renting.

No down payment from bank of mom & dad to buy a townhouse or condo.

Now she understands why no condo or townhouse….

 

[TooManyWheels]

Lived in a townhome for several years and enjoyed it. As someone else said, the association managed the exteriors and the grounds, anything inside (plumbing, electrical, AC) was on you. I would add that you should look up the legal ownership difference between a townhome and a condo, and look into how that operates in practice in the place you're considering. In one case you own a share of the whole, in the other it's just your own footprint (IIRC).

Ours was well run - we attended the meetings and generally liked the level of competence. It's probably universal that the board members are those for whom it's their entire life, with a particular emphasis on the pool and tennis courts.

With regard to special assessments - that's a thing. A friend was in a high end condo and got hit with a 50K assessment for a major redo. Our property managed under a philosophy where such things were budgeted and incorporated long in advance.

There is the possibility for things you can't control - loose pets, low life renters, the guy two units down who suddenly gets drunk/mad at significant other and fires up his cycle at 4 AM. I enjoyed the experience though and would have preferred that to the house the wife always wanted.

 

[PWMDMD]

I grew up in a townhouse which was fine most of the time until I was awoken one night by the boy friend of my neighbor beating her up and trying to throw her through the common wall. Yes, I called the police at 15 but not before I listened some intense fighting.

The upside was the outside was entirely taken care of by the association and utilities were pretty low since only two out of four walls led to the outside.

 

[walterjay]

I lived in a town home when I first got started. It was great at first but over time the place began to take a turn for the worse. More rental units, inconsiderate neighbors and people not keeping the place up. I got out in time but took a financial hit in the long run because of it. I wish I had stretched myself more and bought a small SFH instead.

 

[BMWTurboDzl]

i have never lived in anything other than a single family house . i wish to purchase a home for my son outright . my budget is $500k . in my area $500k will get you a townhome .

seeing i never owned a town home , what are the advantages and disadvantages of one. ii know there will be usually a hoa fee . I asked my son and he really does not seem to want the work of a single family home , which seems pretty common these days for people his age .

So enlighten me on townhome ownership

Living in mine for over 25 yrs. Advantages are that your HOA typically pays for water,sewer, garbage, landscaping, exterior insurance, exterior maintenance sans windows/doors. You must review the CC&R to confirm what is and is not covered. My mother missed this when she moved into a community which contained detached single family condos

Disadvantage is that if poorly built you can hear your neighbor(s). I live in an end unit so only neighbor on one side. Young owners typically want to rent them so the HOA has a vested interest in keeping the investor concentration low. HOA dues will be readjusted every couple of years When you replace windows/doors you must use similar pane configuration and similar door. They do not appreciate as well as a detached single family. They usually lack a proper range hood and installing one isn't always feasible. HVAC system is usually in the attic which is bad for efficiency. Water heater can be anywhere. Garages can be amaller

 

[PandaBear]

About police raid by low life neighbors: that can happen in SFH as well.

We had a rental house where the tenant used fake ID and turn it into a pot house. The rival gang probably threw a brick over the window and the neighbor called the police and busted it. Took us 6 months to fix all the damage. In the end it is about whether you know what you are signing up for and whether it is a compromise you want. I have seen good school district town homes being occupied by lower middle class immigrant families. They "upgrade" from a bad district SFH to a cramp townhome in a good school district for a few years. Everyone graduated on time and went on to become good income makers that raise the generation out of lower middle into upper middle class.

It is all about compromise and priority in life.