Home, Land, Property Buying and Selling - What are the advantages in purchasing a townhouse?
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rosemadder
06-10-04, 08:54 PM
Beside being maintenance free are there any other advantages in purchasing a townhouse instead of an private single home? I was told that there are some taxes that you wouldn't have to pay (school taxes if I remember correctly) and that repairs would not be your responsibility. Sounds to good to be true so I am wondering if there is any truth to it.
If not then what are the advantages of purchasing a townhouse?
Thanks for any information that you can give me.
If not then what are the advantages of purchasing a townhouse?
Thanks for any information that you can give me.
Mike Swearingen
06-10-04, 09:07 PM
Have a real estate attorney review the particular proposed townhouse purchase agreement. Things vary.
You may have routine maintenance (lawn, common areas, etc.) built into your purchase price or payment, but you might later be assessed for major things in the future, which could include such things as your pro-rata share of a new roof or parking re-surfacing for the whole place.
Townhouses do have advantages over single family residential, but they can have their disadvantages as well.
It all depends on what YOU want. Have an attorney explain it all in detail to you before proceeding with a specific townhouse purchase agreement. (Don't buy nasty little surprises.)
Good luck!
Mike
You may have routine maintenance (lawn, common areas, etc.) built into your purchase price or payment, but you might later be assessed for major things in the future, which could include such things as your pro-rata share of a new roof or parking re-surfacing for the whole place.
Townhouses do have advantages over single family residential, but they can have their disadvantages as well.
It all depends on what YOU want. Have an attorney explain it all in detail to you before proceeding with a specific townhouse purchase agreement. (Don't buy nasty little surprises.)
Good luck!
Mike