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What is a Townhome?

There are single family homes, condominiums, and townhomes. The simplest definition of a townhome is it is a house that is attached to other houses.

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What is a Townhome?

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  1. What is a Townhome?

  2. When it comes to home buying you have many residential options available to you. There are single family homes, condominiums, and townhomes. The simplest definition of a townhome is it is a house that is attached to other houses. When townhomes first hit the scene, only the rich could afford them. These homes sat on small bits of land but were built tall, sometimes with 6 or more floors, to provide luxurious accommodations to wealthy residents. They were popular in big cities were the number of residents negated the possibility of owning a single family home.

  3. Today's townhomes are still built on small parcels of land that the homeowners owns but they are generally not as tall, currently going only as high as three stories. They differ from condominiums because they are not stacked on top of each other and the homeowner actually owns the house. With a condo, the common areas must be shared but in a townhome everything belongs to the owner including the garage if there is one. Townhomes can, but not always, have a front and back yard. However, some Homeowner's Associations in townhome communities will take care of the lawn mowing and other gardening needs.

  4. The advantages to owning a townhome is that they tend to be cheaper than single family units but many increase in value faster. They are more spacious than apartments, yet still retain the feel of community living for those that like to have people around. For people living in major cities, sometimes a new homes calgary nw is the only way to own a home in that area because the population is very dense. Because there isn't much exterior area, maintenance of the home tends to cost less and be less time consuming.

  5. But as with all things, there are some drawbacks to owning a townhome. While you may not have neighbors above or below you, you do share walls. You get a little more privacy than living in an apartment but it is still considerably less than living in a single family home. Often you are subject to Homeowner's Association fees, policies, and restrictions. And they offer very little green space which could be terribly disappointing to those with pets or children. All in all, a townhome can be a great investment as a starter home or even as a second vacation home in a popular city.

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