You can trace this word back to early England royalty where the term referred to a home that was kept “in town” when the primary home was in the country. Today, in the United States, it is a single-family home with at least two floors. The house shares a wall with another townhouse. Although they are like a duplex, there is one difference. Townhouses are owned by an individual and duplexes are not. You can find townhomes for sale in areas where property prices are high and land is in short supply. Many times people will look at both condominiums and townhomes for sale because they think they are the same. There is a difference though. Yes, some townhouses are sold under the listing condominium but the difference is the form of ownership. If you purchase a condominium or a townhouse that is listed as a condominium, you will just own the inside of the building. You may own the property outside as well if you purchase it as a townhouse. It depends on the rules of the homeowner’s association.
• Living in a townhouse you are flanked on either side with other homes can give you lower heating bill since only two of the townhouse have outdoor exposure directly
• If it is part of a homeowners association you have little responsibility in regards to maintaining the outside, which can mean less maintenance costs
• Townhomes for sale are less expensive to buy than a freestanding house, which is good when money is tight.
• Being two floors there is less noise below or above and more privacy
• They are lower in value and if you sell your townhouse there is less profit to be made.
• If you have to sell your townhouse in a depressed market you could lose money
• You may be disturbed by your neighbor noise
• Have little space to garden and a small backyard
• You have less say about what the exterior appearance of your townhouse
• Because there are two sides, three if you live at the end of the row can have windows so there is less light in your townhouse.
• In certain real estate markets, buying townhomes for sale can be financially risky
• There may be homeowner association fees you have to pay, and they can be high
If there seems to be more disadvantages than advantages to buying townhomes for sale there are many people who enjoy living in a townhouse and will put up with the disadvantages. They like the close proximity of their neighbors. They are glad they do not have to be responsible for the upkeep of the exterior property, even if they have to pay homeowner association fees.