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Message
Thoughts on Townhomes?
Posted on 2/9/17 at 8:24 am
Posted on 2/9/17 at 8:24 am
What are your thoughts on townhomes or community housing units (not an apartment or complex)? We currently have a detached home in Old Town, Chicago. Now that the kids are close to all moving out, we really wouldn't mind downsizing. The home has a good bit of equity in it and we could really come out on top.
I'd prefer to stay in the neighborhood, but look for more of 2 or 3 bedroom/office. There are an abundance of townhomes/row houses that are available. Most are updated and refurbished. I've never lived in one, but am somewhat concerned about privacy.
Any thoughts?
I'd prefer to stay in the neighborhood, but look for more of 2 or 3 bedroom/office. There are an abundance of townhomes/row houses that are available. Most are updated and refurbished. I've never lived in one, but am somewhat concerned about privacy.
Any thoughts?
This post was edited on 2/9/17 at 8:30 am
29
Posted on 2/9/17 at 8:27 am to Forkbeard3777
maybe take a tour and see if you could live there or not?
Posted on 2/9/17 at 8:27 am to Forkbeard3777
quote:
I've never lived in one, but am somewhat concerned about privacy.
I live in a 2BR townhouse built 3 yrs ago. I have a 2 car garage. It is gated and nice and quiet all the time.
The only time I ever hear the girls next door is when they leave or come home and their 2 dogs bark.
This post was edited on 2/9/17 at 8:32 am
Posted on 2/9/17 at 8:27 am to Forkbeard3777
quote:
Any thoughts?
Vertical trailer parks.
Posted on 2/9/17 at 8:28 am to Forkbeard3777
if your neighbors house catches fire its almost a certainty yours will catch on fire as well
Posted on 2/9/17 at 8:28 am to Forkbeard3777
I'd tell my realtor that I want to spend several hours there on a Friday night to see how the noise is. Just bring a folding chair, some beer, and an ipad to read.
This post was edited on 2/9/17 at 8:29 am
Posted on 2/9/17 at 8:28 am to Forkbeard3777
quote:
The home has a good bit of equity in it and we could really come out on top?
You sound unsure.
Posted on 2/9/17 at 8:29 am to Forkbeard3777
I live in one and there isn't enough parking
Posted on 2/9/17 at 8:29 am to Forkbeard3777
quote:
The home has a good bit of equity in it and we could really come out on top?
I would check on this before doing anything
Posted on 2/9/17 at 8:29 am to ThatMakesSense
I haven't had my coffee yet. 
Posted on 2/9/17 at 8:31 am to Forkbeard3777
Typically all exterior maintenance including roof and siding/brick is covered by HOA. Also only need a souped up contents policy so insurance is dirt cheap. Ideally if you could get an end unit and share one wall might not be as claustrophobic coming from single family house.
My investors love them for all the reasons above
My investors love them for all the reasons above
Posted on 2/9/17 at 8:35 am to Forkbeard3777
Only 2 real issues: Parking and pissing in the yard.
If you don't spend much time in the yard or have many guests over, why not?
If you don't spend much time in the yard or have many guests over, why not?
Posted on 2/9/17 at 8:36 am to Forkbeard3777
I lived in one after first marriage, with good neighbors wasnt bad, the hoa fees every month sucked but didn't have to worry about yard work or painting but the roof and rotten wood was up to homeowner to replace
Posted on 2/9/17 at 8:46 am to Forkbeard3777
It depends on the price, but depending upon where you live, I'm very leery of them. Our firm designed and collaborated with various developers around Austin (I didn't work on them - I mainly focused on commercial architecture).
They serve a purpose, but (in Austin at least) they were extremely overpriced. I feel as if the owners always felt the need to "justify" their purchase or home (meaning I don't think they really liked living in it).
Just in my personal opinion, they are also an eyesore. I understand the value of land, but I hate that they are commonly built up. They all derived from the same 3-5 "templates" and I'm very skeptical of how they'll hold their value in the distant future. The old brownstones you'd find in NY, Chicago, St. Louis, Washington D.C. are great. These "futuristic, Jetson-like" mid-century modern homes in and around Austin are another thing. As I've always said, you like what you like.
Time will only tell...
They serve a purpose, but (in Austin at least) they were extremely overpriced. I feel as if the owners always felt the need to "justify" their purchase or home (meaning I don't think they really liked living in it).
Just in my personal opinion, they are also an eyesore. I understand the value of land, but I hate that they are commonly built up. They all derived from the same 3-5 "templates" and I'm very skeptical of how they'll hold their value in the distant future. The old brownstones you'd find in NY, Chicago, St. Louis, Washington D.C. are great. These "futuristic, Jetson-like" mid-century modern homes in and around Austin are another thing. As I've always said, you like what you like.
Time will only tell...
Posted on 2/9/17 at 8:47 am to Forkbeard3777
I own one and my life and I lived in it when were first married. We have sound proof windows so we never heard neighbors through the wall or anything. It kept noise in/out well. When you live in a city most housing is fairly close to the neighbors.
Our problem was the size of living space. It's just a tiny place. We have an HOA for common space and termite tenting. Small fees, but I be reluctant to buy an attached unit that didn't have an HOA.
Our problem was the size of living space. It's just a tiny place. We have an HOA for common space and termite tenting. Small fees, but I be reluctant to buy an attached unit that didn't have an HOA.
Posted on 2/9/17 at 8:50 am to Grandioso
First house was a townhouse and it fricking sucked. Have you ever had a shitty neighbor? Imagine that shitty neighbor basically sharing a wall with you.
Storage sucks, parking sucks, they are typically built cheap as hell like apartments.
Storage sucks, parking sucks, they are typically built cheap as hell like apartments.
Posted on 2/9/17 at 8:56 am to Forkbeard3777
If I'm not mistaken townhomes have stairs. Think about that after 10-20 more years
Posted on 2/9/17 at 9:02 am to LZ83
quote:
If I'm not mistaken townhomes have stairs. Think about that after 10-20 more years
The ones in Austin are all typically 2 or 3 storied (pictured below). I am such a stickler for efficiency and practicality. That's one of the main reasons I hate them. Another thing to consider, so many neighborhoods develop and change. Nothing about the home itself is really any different - at all. It's the same home in a different part of town.
Point being, invest in the best neighborhood. If you're going to buy one, pick the safest neighborhood, one with the best schools system, closest to your place of employment, and such.
Posted on 2/9/17 at 9:05 am to Forkbeard3777
My beach house is a townhome. We live it. We plan to retire there in a few more years.
I would go for it, especially if you can buy it with equity from your house. It's a no brainer to me.
Just make sure you have private parking, preferably a two car garage.
I would go for it, especially if you can buy it with equity from your house. It's a no brainer to me.
Just make sure you have private parking, preferably a two car garage.
Posted on 2/9/17 at 9:06 am to Grandioso
I understand your point and it is a good one. I was just saying when you're older trying to navigate them stairs everyday.
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