Townhomes

[eastxhunter]

Green screeners - school me on townhomes. Anybody own / purchased a townhome in the past? Either to live in or as an investment or both?

Would you suggest one to a first time home buyer?

Some things I’ve heard regarding them include:
1. Why buy a townhome when you can get a single family home for around the same price?
2. The home value of a townhome won’t increase like a SFH?
3. I can’t think of the others at the moment

Someone shed some light on this please. Real estate agents’ insight encouraged.

[jer_james]

Maintenance is always an issue with ownership. There is usually a lot less time dedicated to odds and ends when it comes to a town home. It's very convenient for some.

[batmaninja]

My 2 cents (depends on where you are) But new THs are always being built. The price appreciation on your used TH will be capped by what new THs are being sold for. HOA dues also play a factor. If it is a new TH, the builder, warranty, community all play a factor too. If it has a stucco finish, I wouldnt buy it at any price.

They call them vertical mobile home parks for a reason

[BitBackShot]

Depends on where it is.

I'd say you have a better chance of a townhome in town appreciating versus a single family home in the suburbs.

When my wife and I bought our first house, I wanted one in the heights that had a great lot but was an old, small house. They were asking $250k for it. My wife hated it and wanted something new.

She wanted a townhome (also in the Heights) that was listed for $190k. I was worried a townhome wouldn't go up in value or even hold it's value.

We (very dumbly) bought a single family home in Pearland for $185k and lived there for 5 years. After 5 years:

House in Heights I wanted was worth $360k.
Town House in Heights was worth around 280k.
House we bought in Pearland we sold for $170k.

Costly mistake. Buy in town in areas young people want to live.

[DFWPI]

You wanting one? I can help. Realtor here in DFW area.

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[eastxhunter]

Houston area!

[Raider Power]

I bought one a couple months back. So far I’ve been pretty happy with it. The homeowners association takes care of everything outside (grass cutting, roofing etc) I take care of everything inside. I bought it to live in and as an investment. In San Antonio townhomes were much cheaper than regular family style homes for the same amount of square footage is what I found.

[willwork04]

The point of buying a townhouse in Houston is so you can cut down on your commute/live close to the younger people. No way would I buy a townhouse in the burbs. I have a townhouse in the heights. But, it is different than most town homes around here. I have parking for guests, a 4 car garage, a yard, and brick construction.

[ken]

Depends on where you want to live. In my zip code(77079) you cannot buy a single family home for anywhere close to the price of a townhouse. There are people that want to live in my area due to the public schools. So if you want to live in my area and have your children attend the public schools in my area and cannot afford a single family house, a townhouse is your only option.

Townhouses do lag single family houses in price appreciation but at some point the townhouse to single family home prices get so out of whack that townhouses go up in value.

As far as an investment, all things equal, the monthly HOA fee on a townhouse reduces your cashflow and is an expense that you do not have with a single family house. Townhouses do rent well so if the numbers work, townhouses can make decent investments. If you decide to buy a townhouse make sure your insurance policy has a high liability limit. Reason being if you have a single family house and have a fire you will likely only damage your property. With a townhouse you can have a fire and cause millions of dollars worth of damage to other people's property. This happened to one of my wife's clients.

[eastxhunter]

Is Spring considered the burbs?

[batmaninja]

Yes, and they pronounce it Spraaang.

Lots of activity up there, also had some flooding. Would think you could get a decent deal on a SFR. I work for a builder for what it is worth.

[eastxhunter]

Yes, and they pronounce it Spraaang.

Lots of activity up there, also had some flooding. Would think you could get a decent deal on a SFR. I work for a builder for what it is worth.

Activity?

[batmaninja]

Xom

[willwork04]

Is Spring considered the burbs?

Yes. I would not buy a townhouse there, personally.

[JHT]

Green screeners - school me on townhomes. Anybody own / purchased a townhome in the past? Either to live in or as an investment or both?

Would you suggest one to a first time home buyer?

Some things I’ve heard regarding them include:
1. Why buy a townhome when you can get a single family home for around the same price?
2. The home value of a townhome won’t increase like a SFH?
3. I can’t think of the others at the moment

Someone shed some light on this please. Real estate agents’ insight encouraged.

Answers:

1. Personal preference

2. Not true at all. Location is the biggest factor.

3. Here are some to consider:

- Price range?

- Amenities yea or nay?

- Attached or detached unit?

- Small or bigger complex?

- Do you like to throw parties?

- Single/married/kids?

- Are you afraid of heights/long ladders?

- Do you like stairs?

- Have you ever lived 5-8 feet away from someone before?

- Do you enjoy yard work?

- What do you drive?