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Should you buy a townhouse?  A townhouse is a multi-level home, with a small plot of land, connected to adjacent homes by a common wall. Typically the owner pays monthly fees and is a member of a homeowner’s association.  The homeowner association is then responsible for maintenance, repair, and upkeep of the exterior of the townhouse and shared areas. These townhomes are a good choice for people who don’t have the time, skill, or desire to do the tasks required to maintain a single-family structure.  Or for those that travel for extended periods of time and can’t worry about the upkeep of their homes. However, for those who don’t mind doing the exterior maintenance, landscaping and snow removal, a freehold townhome, which does not have a monthly fee, could be your best choice. Several other advantages of owning a townhouse include:

• Financial Benefits – often less expensive than single-family structures.
• Ownership of a small plot of land.
• Safety and Privacy – the shared walls between units create a more secure neighborhood, yet the private entrance gives a sense of seclusion.
• Location – townhouses are frequently close to the excitement of the city center.

Limited Responsibility of Upkeep and Maintenance

Townhome owners pay a monthly fee to maintain the townhouse’s exterior, the sidewalks, the parking lots, the shared driveways and other common areas.  Also, a townhouse yard is generally smaller than a yard in a single-family home; therefore, there is less yard work for the owners.

home and, therefore, there is less yard work for the owners.

Financial Benefits

Because townhouses have shared foundations and walls, they are usually less expensive than single-family homes, which makes a townhouse a good deal for first-time buyers and those downsizing.  The shared walls of a townhouse also save the occupants money on the cooling and heating utility bills

Land Ownership

A townhouse unit and the land it sits on is owned entirely by the homeowner, something not usual with condo owners.   And often, the townhouse has a small back and front yard, where owners can garden, BBQ and play with their children and pets.

Safety and Privacy

Townhouse residents have more privacy and quiet than condominium owners because they have their own entrances and exits, and, therefore, no common hallway or elevators to navigate when accessing their home.  However, because of the close proximity of neighbors, townhome communities also tend to be more secure than single-family neighborhoods. Also, some townhouse communities have hired security, along with gated entrances.

Location

Townhouses are often clustered in and around the city center, which is an excellent choice for urbanites looking to buy their own home, yet stay close to the hustle and bustle of city life.

There are many advantages to owning a townhome: the multi-level layout, the private entry and the small plot of land, all give townhomes the feel of a single-family home.  Yet the townhome’s shared walls and common areas reduce maintenance responsibilities and improve security. For more information on townhome living, please visit Falconcrest Homes.