Five Reasons Townhouses are the PERFECT Transition Property
between Detached Houses and Condo Apartments
Townhouses are the unsung hero of the real estate market. They offer convenience, affordability, and a variety of lifestyle options that make them perfect for the downsizing senior or the condo owner ready for a move up.
1. Townhouses can be freehold.
Like detached houses, townhouses can be freehold, meaning there are no monthly fees but the individual homeowner is responsible for all exterior maintenance. Typically, towns are smaller than detached so there is less work and less cost, but snow plowing, grass, windows, and roofs are separate costs that must be budgeted for.
2. Townhouses can be condominiums.
Or, if you prefer a more maintenance-free option, condo
townhouses might be right for you. Fees vary depending on what’s included. On the lower end, your monthly fee may only include basic maintenance of roads and lawns; or on the higher end, all exterior aspects of the building may be included, like windows, roofs, siding, and paving. Some townhouses in an apartment complex may even have access to recreation facilities and a concierge.
3. They’re affordable.
If you’re moving from a detached house, you can expect to pocket an average of $250,000 as the difference between sale prices. That’s a nice retirement nest egg! Of course, multi-million dollar townhouses (many with private elevators) also exist if you’re wanting a luxury property.
4. Townhouses are available in a variety of floor plans.
Whether you want modern or traditional floor plans, townhouses offer it all. The current trend of stacked three-story models offer luxury finishes, two or three bedrooms, and rooftop terraces…and a whole lotta stairs! Other models look like miniature houses on two storeys with an attached garage: a great option for the active couple. But if your goal is to “age in place” then bungalow townhouses might be the perfect housing option: all the safety and convenience with little (or no) work outside. Want outdoor space for Fido or recreation? Yes, townhouses can offer that, too!
5. They are a great investment.
In 2020 townhouses as a property category rose in price by an average of 20% across our region. Their attractiveness as an intermediate step between houses and apartments appeals to many demographics, meaning that sale prices will continue to see robust increases for years to come. As an affordable and convenient property option with diverse lifestyle options, townhouses are the “forgotten middle child” of the real estate market. Let’s show them some love
Check out our Townhome Virtual Tour for a Live Experience.
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