Buying A New Construction Townhome
The Appeal Of A New Construction Townhome
Townhomes are a very popular option for people who want to live in an urban area in a newly constructed home, but who don’t want to live in a high-rise condominium building and want the privacy that a townhome offers.
Townhomes have a lot going for them: they are move-in ready, require little maintenance, usually have no HOAs, and also provide the privacy of a small backyard and (usually) a rooftop deck. Buying a townhome can also be cheaper than buying a new construction home in a desirable neighborhood with retail, dining, nightlife, and public transportation.
If you are thinking about buying a townhome and wondering if it’s the right fit, there are a few things you should know about these homes that differ from a traditional home. First, there are lots of stairs. These homes are generally constructed to be two to three stories high- but narrow. You can typically expect the layout to have the kitchen and living area together on either the bottom or the top floor, with the bedrooms and office space located on the other. So, you’ll definitely be able to skip the stairmaster at the gym! Another thing to note is that townhomes have a monthly sewer capacity charge, due to the fact that all developers pass on the city’s fee to connect the townhome to the sewer. Lastly, Window coverings are never included. These homes generally have lots of windows (newer townhomes sometimes even have floor to ceiling windows), so be sure to budget between $2,500-$15,000 for them.
Seeing Townhomes In Person
Once you are serious about buying a townhome and have hired a buyer’s agent to help you through the process, you will likely tour a list of several homes that meet your list of needs. You are bound to see some things during these tours that you consider drawbacks to a home. When this happens, it’s helpful to make a list of these drawbacks you see and think about how much they would matter to you if you ended up purchasing that particular home. For example, maybe you really want a rooftop deck, but the townhome you toured with an amazing view and master bath doesn’t have one. Does this outweigh the townhome that doesn’t have a garage or air conditioning? These are all things to compare and think about what’s most important for you to have.
The quality among builders can vary dramatically for townhomes, which will become apparent as you begin to tour more and more of them. When you find one you love, make sure to ask your real estate agent if they’ve helped other buyers buy from this builder and if those buyers are still happy with their purchase. It’s also very important to get a home inspection to ensure you are buying a well-built townhome. Ideally, you will want to negotiate an inspection contingency, but even if you do not, it is still possible to get an inspection before closing. This ensures that any issues found during the inspection can be fixed by the builder before closing.
Unlike buying a condominium, buying a townhome is a great way to experience a hands-on approach to homeownership. The walk-ability and contemporary style that these homes offer have made them incredibly desirable across the United States. It’s important to understand the pros and cons of townhome-living and choose a real estate agent who is familiar with the buying and selling process of these homes.