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Top 10 Tips for Buying Townhome Properties

Real Estate

Townhome properties refer to semi-detached houses. One or more walls is usually shared with other homes, but you generally don't have anyone located above or below you as you would in a condo. If you decide that owning townhome properties is right for you, read on to find the top 10 tips for buying townhome properties.

Top 10 Tips for Buying Townhome Properties

  1. Work with a real estate agent that specializes in townhouses. The seller will pay the agent's commission and fees, and you will be able to enjoy the benefit of the agent's expertise in helping you to find and make an offer on townhome properties.
  2. Explore the area to find out where townhouse properties are located. Often, townhome properties can be purchased in desirable areas where condos or apartments are scarce. Find out where you want to live and see what townhome properties are available in that local area.
  3. Look at the Multiple Listing Service (MLS) and online classifieds to find townhome properties or sale. Like single family properties or condos, the MLS database that real estate agents use to sell properties has listings for townhouses. You can even specify that you want to search only for town homes on the MLS database.
  4. Get pre approved for a mortgage. Before you shop for a townhome, you will need to know what you can afford- just as with any other real estate purchase. Once you have an indication of what townhouses cost, you can get pre approved and then go and look for houses specifically within your price range.
  5. Visit townhouses and pay attention to the features and amenities. You will want to focus on the unit itself, looking at features such as how many bedrooms and whether it has a back yard. If you are upgrading from a condo or apartment, consider whether you want to be responsible for yard maintenance for your townhome, since this is usually a change and an added responsibility of home ownership.
  6. Visit the townhouse at several different times throughout the day to assess the noise. Because you will share at least one wall with your neighbors, you want to find out how noisy they are and make sure you can live with it.
  7. Talk to the neighbors so you can find out who you will be living next to if you want to buy the townhouse. Since you are living in somewhat close quarters, you want to make sure you will get along with the people who are sharing your walls.
  8. Learn the community rules. Some townhouses are in communities that have shared amenities such as a clubhouse or pool at the end of the community. Some may have rules about the type of decorations you can do to your townhouse or about whether you can paint or not. Find out about these rules and features before you buy.
  9. Understand maintenance obligations. Since your townhouse is attached to other homes, what happens if the roof on the units needs repair? Who pays and how is that coordinated?
  10. Once you have found the perfect home, compare the cost o the townhouse and make an offer in line with the prevailing market rates of nearby homes. Your real estate agent can also help you determine what is appropriate to spend on a townhome property.

Townhome properties typically offer a great option for those who don't' want the cost or responsibility of a single family home. By following these ten tips for buying townhome properties, you can find the property of your dreams and begin experiencing the joys of home ownership.

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