You've probably heard of a townhome, but you might not know exactly what one is. A townhome is basically a cross between a condo and a single-family home. Unlike a condo, it's not an apartment that you can buy, but it shares one or more of its walls with other townhomes.
Please note that there are many different options when it comes to townhomes for sale, but here are some common advantages of purchasing one:
More spacious than an apartment/condo
Generally speaking, a townhome will be much larger than an apartment or condo. It's more common to find multiple floors in a townhome as well. In some cases, you'll also get your own private yard, which is almost unheard of with condos and apartments.
Cheaper than a house
If you're trying to decide between purchasing a house or a townhome, you should take into consideration that townhomes are typically less expensive. Indeed, single-family homes will usually give you more square footage of living space. However, if you don't need that extra space, a townhome is a great option.
Located in nice areas
You can find single-family homes, apartments, and condos in all different types of areas. However, townhomes are usually, though not always, located in desirable neighborhoods. They typically have fancy architectural designs, making them hot commodities.
If you were to tell someone that you're renting an apartment or purchasing a home or condo, they wouldn't know whether it would be nice or not until they checked it out for themselves. However, when you tell someone that you purchased a townhome, they'll typically assume that it will be of high quality. That's because it's almost always the case.
Outside maintenance handled for you
Many townhome communities require you to pay monthly fees that are used to keep common areas well-maintained. This fee is usually much less expensive than the costs to upkeep a single-family home. In some situations, that maintenance fee covers repairs to the exterior structure of your townhome as well.
Many townhomes will also include a private yard and driveway that you will be responsible for maintaining yourself. However, they'll generally be smaller in size than the yard and driveway you would have to maintain if you bought a single-family home.
Some townhome communities will have amenities for the residents to enjoy. This could include things like pools, tennis/basketball courts, fitness centers, or clubhouses for entertainment and gatherings. These types of amenities are less common in townhome communities compared to condo communities, but some do offer them.