When people think about living in a townhouse they usually think, “it’s a glorified, more expensive apartment”. Or maybe it’s more along the lines of “they’re just squished together houses”. Both are accurate in a sense, but a townhouse development actually offers the best parts of both condos and single-family homes.
In a busy city like Toronto, single-family homes are often out of most family’s reach. Either they are too small, too far away, or way too expensive. A townhouse offers the perfect balance of size, location, and price that makes sense for city living. Here are a few of the many advantages to living in a townhouse community.
1.You Will Be A Landowner
When you purchase a condo or apartment, you only really own the airspace within the residences’ walls. However, with a townhome, it’s more like purchasing a single-family home. You actually own the physical land that it is on. Often that means you get some yard and grass space as well, which in GTA is a huge plus.
Owning land in Toronto is growing increasingly difficult these days with real estate prices rising. A townhome is a perfect compromise between owning physical land and price. A plus of a townhome too is that the homeowners association usually does landscaping. That means mowing the lawn and shoveling snow doesn’t fall on your shoulders. So you get the bonus of owning land like a home without the hassle of landscaping upkeep like a condo-best of both worlds!
2.You Get Access To Amenities
One of the big perks of condo living is the access to all the amenities. Having a gym, pool and party room close by are some of the things people miss when they move into a house. With a townhouse development though, there is usually the same amenities that an apartment would have.
Each townhouse community offers different amenities. Some have BBQs some have playgrounds. You can find a development that has what you need easily. The great thing too is that these amenities are free. The cost and upkeep of them come out of the monthly fee you’ll pay.
3.You Only Have to Upkeep The Interior
One huge plus of townhome living is that you don’t have to worry about exterior upkeep. Typically the homeowners association worries about everything from landscaping to repairing any exterior damage. This means that the general maintenance of a townhome is significantly lower than that of a single-family home. While you’ll be responsible for any interior repairs or issues, the development will take care of most exterior ones.
4.They Make More Financial Sense
In a large city like Toronto that has a highly expensive and competitive housing market, townhomes make financial sense. Typically, they are cheaper to purchase than a single-family home in the same location. While it’s true that owning a townhome means you have to pay both a mortgage and an HOA fee, you usually end up saving money in the long run.
Because townhomes are smaller, they can be located in more downtown locations. This means that you can save money from commuting to and from work and other locations. Many people that have single-family homes also end up spending extra money on exterior upkeep, like gardeners or lawn mowers, or with exterior repairs. For townhouse owners, all of these additional costs people don’t think about are already covered.
5.You Are Part of a Community
One of the great things about townhouse communities is just that- that it is a community. Most have a limited number of units, meaning you can really get to know your neighbors. They can be there for you when you need them, either to water your plants when you’re out of town or to loan you a cup of sugar.
This community feeling also provides additional safety. Neighbors close by means they will be able to look out for your property. If there is damage or theft chances are someone witnessed it. Many townhouse developments also include security guards or security cameras as part of the HOA fee too.
Contact us today to discuss our latest townhouse developments that we are working on. We can talk you through all the bonuses of townhome living.