Are Townhouses a Better Investment for First-time Home Buyers?

Are Townhouses a Better Investment for First-time Home Buyers?

Townhouse or condo? This might be the common question running in the minds of first time home buyers while looking for homes for sale in La Mirada CA. Most people have a misconception about townhouses considering them as houses squished together with shared walls ruled by iron-fisted homeowners’ associations. But in reality, townhouses are not apartments or houses, or even condominiums.

What are Townhouses?

Townhouses are single-family dwellings with at least two floors that share a wall with another house. Today, these houses represent a growing share in the real estate market and are the attractive options for many new homeowners. These houses have a unique front and back entrance, free-standing or share one or two walls. You may also share common areas such as a garage, a clubhouse, a pool, or a garden area.

Benefits of Investing in Townhouses

Affordable

Buying a townhouse is an affordable investment and don’t cost as much as single-family homes for sale in La Mirada. The construction style of these townhouses can save you more money on heating and cooling bills when compared to a single-family house. If you have the ability to organize your neighbor and work together with the same contractor, then you have to spend only a little amount on major improvements.

Low Maintenance

Purchasing a single-family home comes with a larger yard where you have to spend much of your time and money on landscaping, gardening and yard waste removal. But, while investing in a townhouse you don’t have as much landscaping as single family homes because the yards are smaller. Also, you need not have to take responsibility of maintaining the common areas owned by the homeowners association. Since your association fees include a part of maintenance charges, shoveling snow, major exterior repairs to exposed walls and waste removal, you can breathe a sigh of relief and save legwork.

Fewer Concerns

Consider, you are living in a single family home and if your work or family concerns take you out of town frequently, what will you do to maintain your property in your absence? Probably, you will hire someone to cut the grass, ensure the drains didn’t get clogged and more. But when it comes to townhouses, the homeowners association takes care of all the maintenance work of your property year round, both in your presence and absence. So, you don’t have to worry about leaky roof or gas leak.

Moreover, townhouses are located in areas near vibrant entertainment and dining options, sometimes even closer to your office limiting your daily commute. Even, you may have access to a common park area, a gym, a recreation center and a pool. The low-entry costs and minimal maintenance makes these townhouses an ideal option for first-time home buyers.