If you want to buy a house but don’t want the hassle of maintaining a big yard, you may have considered buying a townhouse. A townhouse often offers a good ‘middle ground’ between a detached home and a full-fledged condo unit because to a degree, they have the best attributes of both. Townhouses represent a growing market in East Vancouver real estate, so if you’re seriously considering to purchase one, it pays to know more about this particular property type before you render your final decision.
Pro: Townhouses are often built in convenient locations
Detached homes can be expensive in East Vancouver, and while condos are generally cheaper, owners are often constrained by the space. Many townhouses are built near urban centres, thus offering just the right balance of accessibility, affordability, and privacy.
Town houses for sale in East Vancouver that with a homeowners’ association or HOA attached can have a considerable impact on your home ownership experience, so it’s extremely important to get as much details as you can about the HOA. Though they can be helpful to your privacy and security, these agreements can be extremely restricting, so if these sort of obligations bother you, you might want to purchase another type of property altogether.
Pro: A little natural ambience can be good
Even small patches of nature can increase the enjoyment you get out of owning a townhouse. End units generally offer more outdoor space, but if the property you’re considering is smack in the middle of two townhouses, then having even the tiniest bit of outdoor haven can be a huge advantage. Of course, you’ll have to limit whatever luxurious trimming you have planned, as townhouses often don’t have much real estate beyond what the building offers.
Con: Financing can be a challenge
Lenders often consider townhouses as condos, and financing for such properties can often be restrictive and expensive. Choose a lender that has a lot of experience with townhouses and doesn’t bundle them with condos to get the most out of your mortgage loan. It can help to talk to other townhouse owners to learn who they used to finance their property.
Want to find the best townhouses for the money? Work with a trusted agent of East Vancouver houses for sale to find the properties that best suit your needs and budget.
5 Questions to Ask when Buying a Townhome, HowStuffWorks.com
Things to consider when buying a townhouse, PenFed.org