If you happen to be one of those people who is in a bit of a twist when it comes to finances to purchase your own custom home, or if you are looking to invest in real estate, then we suggest you look into buying condominiums or townhouses of a planned development.
Here are some reasons why you should consider buying a condominium or a townhouse:
You want a place of your own but you do not want to play an active part in the upkeep. You hate mowing your lawn and you do not want to landscape or clean your pool. Well, no problem, condominiums and townhouses share pools with the community, and the community HOA takes care of the maintenance and the upkeep of the communal amenities. You get all the functionality and zero responsibility for maintaining it.
Condos and townhouses come with a large array of communal amenities. These amenities include, bbq pits, pools, fitness center, and clubhouses amongst other things. Additionally, the HOA take care of their maintenance and upkeep. Picnic areas and the clubhouses can be reserved to entertain your guests and you can avail these amenities throughout the year. Though HOA community based property have assessment fees, these fees are worth spending a little extra for considering the amenities you get in addition to a lovely place for yourself.
Value for Money
Condominiums or Townhouses provide great value for money. They are a cheaper option almost every time in comparison with conventional homes. Owning a townhome is the same as owning a conventional house. You can either finance the house or pay upfront on cash. You still own the piece of land the townhouse was built on. Selling process is much the same, you can sell it on your own or through the help of a realtor, but you must abide by the protocol set by HOA community guidelines and bylaws.
Great Option for Seniors
If you happen to be a retiree or a senior citizen, town home is a great way to enjoy the freedom without the added baggage of extra maintenance. HOA communities provide a great sense of community which is crucial at this age, the social events are fun and a great place to make new friends. They also evoke a great sense of security. Additionally, you can look for communities that are specifically designed for elders, which will help you settle in no time.
External Home Improvement is Taken Care by Property Manager
Typically, townhouses and condominiums are managed by property management companies. Therefore, the exterior upkeep of your house is also taken care of by the HOA. If you think your house needs a paintjob, or some external fixtures need replacement. The management will take care of that. The process of application can be found in the bylaws of the community. Typically, a formal application needs to be put forth but the job is done quickly without much hassle.