Townhomes offer a combination of single-family home (SFH) and condo living. These multi-story homes sit on their own plots of land, but are connected by common walls and are managed by a homeowners’ association (HOA).
As you read on, discover why you should be looking at townhomes for sale in St. Petersburg, FL.
Here are 5 advantages of townhome living:
- Less maintenance
Townhome owners have fewer responsibilities when it comes to maintenance and upkeep than owners of single-family homes. A HOA takes care of the external maintenance of a townhouse community. These include repainting the exterior walls of townhouse units, repairing the roof, and in some cases, shoveling snow out of the front yard during winter.
With fewer responsibilities on external maintenance, townhome owners can save time and money. They can also pay better attention to taking care of the inside of their home, including giving it a thorough cleaning, checking for plumbing issues, and changing HVAC filters.
- Special amenities and common areas
Many townhome communities have access to special amenities and common areas like laundry facilities, parking bays, and recreational areas like gyms and swimming pools.
To the benefit of the residents, no additional fees are required for the maintenance of these shared facilities as they are covered by the HOA fees. The maintenance of these areas is also the responsibility of the HOA.
Owners of single-family homes, meanwhile, will need to spend a pretty penny if they want extra conveniences in their home.
- More affordable than single-family homes
Townhomes usually cost less than single-family homes of the same size in the same area. This makes them great options for first-time home buyers looking to establish equity with affordable housing.
The difference in prices is easily seen in Pinellas County, FL. According to a report by the Pinellas Realtor Organization, townhomes/condos sold at a median price of $185,000 in December 2018. By comparison, single-family homes sold at a higher median rate of $249,900.
In addition, the compact design of townhomes makes it easier to maintain indoor temperatures, thus bringing down heating and cooling costs. Owners also do not need to spend for exterior maintenance since the HOA is in charge of that.
- More affordable than single-family homes
Townhomes usually cost less than single-family homes of the same size in the same area. This makes them great options for first-time home buyers looking to establish equity with affordable housing.
The difference in prices is easily seen in Pinellas County, FL. According to a report by the Pinellas Realtor Organization, townhomes/condos sold at a median price of $185,000 in December 2018. By comparison, single-family homes sold at a higher median rate of $249,900.
In addition, the compact design of townhomes makes it easier to maintain indoor temperatures, thus bringing down heating and cooling costs. Owners also do not need to spend for exterior maintenance since the HOA is in charge of that.
- Ownership
Just like a single-family home, those who buy townhomes own both the structure and the land it’s on. Townhouse owners also have the same benefits that single family homeowners enjoy including tax breaks and value appreciation.
When compared to condo ownership, townhome owners experience fewer restrictions when it comes to things like owning pets, for example.
Buying a townhouse is also a smart investment. In Pinellas County, the value of townhomes has increased. From $162,000 in December 2017, the median value of townhomes went up by 14.2% to $185,000. Should owners choose to sell in the future, they would be getting a good return on their investment.
- Tighter security
Living in a townhouse community where dwellings are close together may be safer than living in a neighborhood of standalone single-family homes. The proximity of homes makes it easy to take note of unusual activities, giving residents more peace of mind.
Entering and exiting these townhouse communities are also limited to two or three entry points. This restricts the number of strangers or non-homeowners straying into the premises. Moreover, many townhome communities have security guards, well-lit streets, and gated entrances.
Allison and Dave Estabrooks are the best at finding the most affordable townhomes in and around St. Petersburg, FL. Call them at 727-460-4061 or send an email to Allison(at)EisKey(dotted)com and Dave(at)EisKey(dotted)com.