5 Reasons a Townhouse May Be Right For YouWhy A Townhouse Might Be Right For You With unprecedented competition for single-family homes in
5 Reasons A Townhouse May Be Right For You
Dated: April 21 2021
5 Reasons a Townhouse May Be Right For You
Why A Townhouse Might Be Right For You
With unprecedented competition for single-family homes in the Tampa Bay area of Florida, the team and I often find ourselves strategizing for alternate housing options with our clients (aka home buyers).
If a homebuyer can’t find the perfect single-family home due to limited inventory and steadily increasing housing costs, we start to look for other options that might check off all the boxes on their wish list. While many homebuyers aren’t ready to commit to a condo due to lack of green space, single level living, etc. a townhouse can sometimes become the perfect compromise when it comes to finding a great home and real estate investment. Here’s Why:
Less Maintenance- Much like living in a condo community, many townhouse communities include grounds maintenance and landscaping in their monthly HOA fees. Residents are rarely ever responsible for trimming hedges, mowing lawns, and maintaining the exterior details of their community. Less maintenance tasks = more time for you to relax outside of work.
Speaking of HOA Fees…-Another benefit of townhouse ownership is that compared to the majority (but not all) of condo communities in Tampa Bay, many townhouse communities offer lower HOA fees/Maintenance Fees vs condo communities. This can make your total monthly housing payment lower. The average HOA fee for a townhouse sold in Pinellas County is hovering right around $392/month. For a condo, the average monthly condo fee is about $508.44/month. Per square foot of space (see below) condo dues are often a good amount higher.
Prices Can Be Lower for Townhouses- The Median price paid per square foot for a townhouse in Pinellas County in the past year was $165. For a condo, the median price paid per square foot was $174. That’s about +5.5% higher in price for a condo vs a townhouse.
The Average Townhouse is Larger Than a Condo- If more living space is a ‘must have’ on your house-hunting checklist, then a townhouse may also be a good option for you. The average townhouse in Pinellas County has 1,757 sq ft of living space. The average condo has just 1,170 sq ft of living space in Pinellas County.
You’re More Likely to Get a Garage in A Townhouse- If extra storage and covered parking for your vehicles, plus a driveway is important to you, then a townhouse might also be a good option vs a condo. While there are some condo communities with traditional garages offered to their residents, they are few and far between. Meanwhile, the majority of condos in the Pinellas County and Tampa Bay areas of Florida offer 2-car (or more) garages just like what you’d find in a single-family home.
While there can certainly be more benefits to owning a single-family home (less fees, faster price appreciation, more greenspace), for some home buyers a townhouse is the perfect mix of that single-family feel with less maintenance, multi-level living, and more amenities. Compared to a condo, townhouses can offer more space, but less amenities though. So it’s important to speak with your Realtor about what your housing needs really are.
Have questions about the different types of housing available in your budget? Call The Sandy Hartmann Group today at (727) 400-3315 to get more details. We’d love to help you with your Tampa Bay home search!
Originally from Ohio, Jesse prides himself on providing unmatched real estate services and market knowledge in the Tampa Bay, FL real estate market. He is committed to offering real estate solutions t....
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