3 Tips For Buying A Townhome
Townhomes are a popular option for homeowners across the country. This type of property typically shares at least one wall with another property but often comes with a small garden or patio space. A townhome often offers more space and privacy than a condo but requires less maintenance than a single-family home. If you plan to purchase a townhome, here are three tips that can help.
Hire A Real Estate Agent
Real estate agents are often great resources if you are looking at townhomes for sale. Hiring a local real estate agent will go a long way toward helping you find the best townhome for your needs. The process of buying a townhome can look very different from one market to another. Some real estate markets may have a plethora of available options, while in others, they may be scarce. A local real estate agent can help you find a townhome that meets your needs, is in your desired location and fits within your budget.
Check Out HOA Fees
Townhomes also tend to come with homeowner's association, or HOA, fees. HOA fees cover maintenance and repairs to shared areas and also pays for community amenities like swimming pools. When searching for townhomes for sale, you'll want to consider HOA fees before making an offer on a property. These fees can vary significantly depending on the property. The average HOA fee for a townhome is between $200 and $300 per month. However, fees can range anywhere from as little as $100 to upwards of $1,000 per month. It's also important to keep in mind that HOA fees will likely increase over time.
Don't Forget The Home Inspection
Getting a home inspection is just as important when buying a townhome as it is when you are purchasing a single-family home. If an inspection comes back with a few problems, you can adjust or rescind your offer. Home inspections should be done for both the exterior and interior of the townhome. When on the market for a townhome, you will also want to keep an eye on neighboring properties. Neighbors that don't maintain their townhome can damage the home you purchase.
If you are looking at townhomes for sale intending to buy, a few tips can help. First, hiring a real estate agent can make finding the right property much easier. Second, most townhomes have HOA fees, which you will want to consider in addition to the asking price. Finally, don't forget to get a home inspection before buying a townhome.
