Pros & Cons of Purchasing a Townhouse

Last week, we discussed the pros and cons of purchasing a single-family home. This week, Cambridge Title Company is going to talk about another type of home: the townhouse. Similar to last week, we'll be reviewing the various pros and cons to this type of property unit. With that said, let's start with the pros.

Pros

A townhouse can be described as a home attached to one or more house, as shown in the image to the right. Typically, townhouses are located on a specific property which is owned by the townhouse owner. Townhouses range in size and architecture, and can include duplexes and even triplexes.

Because townhouses are attached on either or both sides to additional townhouses, they offer heightened security created by the high-density community. With such you can also save on exterior maintenance, due to townhouses looking more or less identical to their counterparts. Lastly, because of the dense community, you may have easy access to other amenities, such as a pool, tennis courts, exercise facilities, and more.

Cons

The most immediate downsides are lack of creative freedom and privacy compared to that of which you would find in a single-family home. With buildings on either immediate side, privacy is greatly reduced. Similarly, since townhouses are identical to and attached to one another, you can't build out your home as you see fit.

Finally, with the easier access to amenities, you're likely part of a homeowners' association (HOA). Being part of an HOA requires monthly or annual fees in addition to any property-specific fees.

For more information on title insurance and escrow services, please contact Cambridge Title Company by phone at 224-330-1886 or by email at info@cambridgetitleco.com.