First Time Homebuyers Listen Up! First-time homebuyers this is for you! If you’re thinking about buying your first home, you might be wondering are townhomes a good investment? Well, let’s break it down.
First off, let’s talk about affordability. According to the National Association of Realtors, townhomes tend to cost less than the single family detached homes and can be appealing to the younger professional. In fact 35% of buyers are willing to go smaller to make homeownership happen. And the good news, more townhomes are available now than in past years giving buyers more options at a better price. This is important to note with rising home prices.
Next up, low maintenance! Unlike single-family homes, most townhomes come with HOA benefits that can cover things like landscaping, exterior repairs, and even some utilities. That means less stress and fewer unexpected costs which is perfect if you’re just getting started.
And then, there is the location. We have all heard the real estate phrase location, location location! Most townhomes tend to be in prime areas close to work, shopping, and entertainment, so you don’t have to sacrifice time for the things you love.
Finally, do townhomes hold their resale value. Short answer yes, they are a solid investment because data shows they tend to appreciate in value over time especially in growing markets.
There are some trade-offs though and that is where I come in, as an agent I can help you weigh the pros and cons to see if a townhome fits your lifestyle and long-term goals. Connect with me so we can determine what matters most to you, space, location, or budget? Let us help you find the perfect first-time home today!
I am Terry Tucker with eXp Realty! Call me today so I can give you the information you need to make an informed decision!
