In urban areas such as East Vancouver, residential choices come plenty, which can leave many first time homebuyers confused as to which type of dwelling to buy. One of the most common issues that plague such homebuyers is the choice between houses and townhouses. So which one of these is right for you? It all boils down to four general considerations:
The design is the main difference between a house and a townhouse. As the name implies, a townhouse belongs to a group or ‘town’ of houses, and shares at least one common wall with another similar-looking property. A house has no common walls and has its own lot. Townhouses are known space savers, and that’s why they can be built closer to urban cores than houses. However, noise and decreased privacy can be an issue.
Detached houses are generally more expensive than townhouses. Firstly, houses are larger with regards to square footage. Privacy is also better in detached homes, making them more desirable. Since townhouses are typically cheaper, they can be the better option for first time home buyers and those with limited budget.
Townhouse living has a lot of similarities with condo living—homeowners need to abide by certain rules set by the homeowner’s association (HOA) that governs the community. This means owners aren’t free to renovate, paint, or build extensions in any way they please. On the contrary, HOA can dictate not only the home’s exterior colors and design, it can also set restrictions on pet breeds, pet size, and even the age of the homeowners. That said, townhouse dwellers generally don’t have to worry about maintaining their property, as the HOA is in charge of most if not all upkeep tasks.
From an investment point of view, detached houses generally appreciate in value higher than townhouses because of two things: First, land supply is fixed in a detached home, and demand climbs with urbanization and population growth. Second, townhouse lot sizes are a smaller than detached homes.
Consider each of these factors and weigh how each option satisfies your housing and monetary needs. Hopefully, you can arrive at a final answer soon. If you need help, feel free to consult with a broker of East Vancouver houses for sale, such as Real East Van.
(Advantages & Disadvantages of Townhouses vs. Single Family Homes, SFGate.com)