Are you planning to buy a townhouse and share your walls with others? Townhomes are the properties which are the single family homes which are attached with other houses by having at least one common wall. Townhomes are little bit like condos and also like single family homes. It has two types of ownership namely freehold and condominium.
Freehold townhomes and the land, to which it belongs, are owned by the home owners. These kind of homes gives privacy to the buyers as they are more spacious than condos. Some people might feel hard to maintain the large backyards and exteriors, freehold townhomes are suitable for them, since it needs very less maintenance works compared to single family houses.
The land of these types of homes belongs to HOA or Home Owners Association. You will only own the spaces in your homes while rest of things are owned by them. The renters are also asked to pay monthly maintenance fee and other costs. You have to share the pools, parking lots and other facilities with other houses. But these homes are more affordable option to people, since freehold and single family homes are costlier than the condos.
What are pros of owning a Townhomes?
Townhome is an affordable option to many who are moving to many places. Some people may frequently change their job location and search the place just to live in for few years and townhomes suits them well. Freehold townhomes can offer more privacy than condos since they share only one or two walls in common with other houses. There are some cons too in buying freehold townhomes! You cannot have the shared amenities like gyms, pools and conventional halls.
Things to note while buying a townhome in Arizona
Do proper research on the neighborhood before searching the townhomes for sale in Arizona. Make sure you have a pleasant neighbors and the location is quite calm and serene. Many sellers often hide the crime rates and other drawbacks of the location, you have to dig them up. You cannot have the location which is completely perfect, but you can avoid buying places which has high crime rates.
If your budget is little bit less and you are in search of townhomes in not-so-developed areas, then verify whether there are any upcoming projects and other facilities available.
Last but not least, make sure that the HOA (Home Owners Association) is not charging you a hefty amount for maintenance and other costs. Many sellers often fed up with the higher charges of maintenance by HOA and try to sell their homes.
Location and appreciation value of townhomes for sale in Arizona
Location and appreciation value are the two most important factors which determines the success in real estate investments and townhome, is not an exemption. Find the appreciation value and compare the prices of nearby homes. Therefore you can make sure you are not overpaying for the home. You can negotiate with the sellers if they are any unfinished works in your townhomes for sale in Arizona. Ask them to deduct the price on selling price for repairs and renovation cost.
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