Townhouses
YouTube Videos by Ilyce Glink
Summary: Town houses are another option when you want to buy a home. They tend to be larger than a condo or co-op but likely still have a homeowners association. Make sure you understand the terms of the sale as a home buyer.
Video Transcript
I'm Ilyce Glink and welcome back to expertrealestatetips.net.
Maybe you grew up in a single family home in the suburbs... Or you shared an apartment in the city with your mom and dad. Either way, you may not be familiar with the concept of a town house.
Town houses usually look like a group of slender homes attached in a long row. You share walls with your neighbors, which might not be such a good thing if your neighbor has teenagers who play the drums. But the good news is that often in a town house development, the homeowner's association is responsible for maintaining the exterior of the property. So, you don't have to worry about arranging for painting or fixing the roof.
Town houses may be purchased as condos or "fee simple." If you purchase a town house "fee simple," you own the title to the land and the house. You're also fully responsible for real estate taxes.
Sometimes town houses are sold as condominiums. That means you'll own the space within the walls, and maybe even the interior drywall, but you won't have responsibility for the exterior walls.
Town houses tend to be less work than single-family homes, so choose a town house if you don't want to spend a lot of time maintaining your home and if you don't want a huge yard.
Town homes give you a chance to be around lots of people. Because you live so close, it's easier to get to know your neighbors. On the other hand, you might not like what you listen to through your common walls.
This video is also available on YouTube: Video: Townhouses
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NOTE: This video transcript is distributed by Real Estate Matters Syndicate, PO Box 366, Glencoe, Illinois, 60022. This content may not be resold, reprinted, resyndicated or redistributed without written permission from the publisher.
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