With the cost of real estate on the rise, townhomes have become a more popular type of property to purchase. Townhomes provide you with ownership of your own space and yard and give you the community feeling of a traditional neighborhood. But make sure you evaluate all the details that surround a townhome when you are looking to make a purchase. The following provides you with some tips to help you through your townhome search and purchase.
Hire a Professional Agent
To help you get the most out of your townhome search, it is a good idea to hire a professional real estate agent to act on your behalf in the purchase. A real estate agent will be able to find great townhome properties that match your budget, and they can help you evaluate each property's condition and other amenities. Look at the townhome's HOA fees and what the monthly fees will cover. Most fees will cover outside maintenance and upkeep of a playground and other common areas that are located within the neighborhood, for example.
Check with your real estate agent about the HOA's CC&Rs (covenants, conditions, and restrictions) to see what is and is not allowed on the property and your townhome. For example, can you park on the street or add in your own landscaping? When it comes time to negotiate for the purchase of a townhome, your realtor will be an expert in writing up a good offer contract and help you get the best terms on the purchase.
Visit the Property
Before you can gain a thorough understanding of all a property will provide you in lifestyle, you will need to personally visit it. It is a good idea to view the property for yourself to see the space and condition of the interior as well as any natural light from outside, for example. Look to see if the exterior windows face north, south, east, or west, as this can make a difference in any direct sunlight that comes in through the townhome's windows throughout the day. Look at the exterior, the yard, and any outdoor living space. Photos provide a good indication of what you can expect, but to thoroughly understand a property you need to tour the home.
When you take the time to visit a townhome, this is also a good opportunity to evaluate the area and neighborhood. Take a walk down the street and through any neighborhood park or common areas to see what condition they are in, as you will have a share in using them. Talk to any neighbors who are outside while you are visiting, and ask them questions about the area. You can check the area for any loud neighbors or annoying street noises from within the community or on surrounding roads, for example.