Are There Advantages to Buying a Townhome?

When it comes time to buy a home, you might find yourself a little intimidated by all the options available. There are many important factors to consider, such as what you can afford, how long you intend to stay, whether you plan to start a family, etc. Of course, different types of houses offer different things. If you haven’t already considered them, townhouses are a happy medium between standard apartments and traditional single-family homes, featuring many of the benefits from both.

COMMUNITY
Living in a townhouse means you’ll reside in a complex of similar units, built side by side, usually managed by one developer or owner. Like the layout of an apartment, you’ll probably be sharing at least one wall with your neighbors. While some people may find it less private than free-standing homes, a townhome community affords you amenities you won’t find in most neighborhoods or apartment complexes.

Any clubhouses, pools or other community resources are managed by a homeowners association (HOA) that enforces and oversees daily operations, including common area maintenance and trash removal. HOAs also determine cosmetic options for the homes, such as paint color and exterior landscaping. While their rules may be strict, the HOA ensures upkeep and uniformity of the community.

Most townhouses are also located within or near city centers; this means that, in addition to whatever amenities are offered by your community, you’ll be close to a variety of other dining, shopping and entertainment options.

COST
Owning a townhouse can be less or more expensive than a single-family home, depending on where the community is located and how luxurious it is. Townhome owners do have to pay monthly fees to their HOA, which can vary. There are also real estate taxes to consider. However, the initial cost of the unit is usually significantly cheaper than a detached home of the same size and location.

If you have a fixed budget, townhouses give you the option to buy in the neighborhood you want. Less money than what you would be paying for a traditional house could afford you a nicer and more modern townhome with all the amenities the community has to offer.

LUXURY TOWNHOUSES IN PHOENIX, AZ
If townhouse living seems right for you, consider Novella at Arcadia. Nestled in Phoenix, Arizona’s Arcadia neighborhood, Novella at Arcadia draws on the community’s urban and historic context. Built by True Craft Residential and a team of contemporary designers, Arcadia utilizes open floor plans, simple color palettes and clean lines to create a timeless living experience.