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Started By
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 8:31 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 8:56 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 9:05 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 9:09 am to Forkbeard3777
quote:
Any thoughts?
I think your wife wants to downsize not "we"
Posted on 2/9/17 at 9:12 am to Forkbeard3777
Townhomes in a large city are much more common than what people are used to down south. Most people down here want land and lack of neighbors. Therefore you may not get the best opinions from the OT since most of the posters have not lived outside of the SE.
Posted on 2/9/17 at 9:14 am to Forkbeard3777
Wife and I bought a new construction town home 2 BR, 2.5 bath, with a nice sized patio, community green spaces, pool and pool house we can rent for free(under construction), and dog park.
Its our "city home" before we have kids. Takes us both 5 minutes to get to work downtown.
We intentionally bought the end unit so we only share 1 wall and we never hear our neighbor. The units are well built though by a respected developer/contractor. Its a pretty cool feeling living in a brand new home where we got to pick all the features (hard wood colors, granite colors, appliances, etc.).
We just weren't ready to buy a house in the burbs and it was a great investment because of its location. We really love it.
ETA:
Nashville
Its our "city home" before we have kids. Takes us both 5 minutes to get to work downtown.
We intentionally bought the end unit so we only share 1 wall and we never hear our neighbor. The units are well built though by a respected developer/contractor. Its a pretty cool feeling living in a brand new home where we got to pick all the features (hard wood colors, granite colors, appliances, etc.).
We just weren't ready to buy a house in the burbs and it was a great investment because of its location. We really love it.
ETA:
Nashville
This post was edited on 2/9/17 at 9:21 am
Posted on 2/9/17 at 9:16 am to Forkbeard3777
I live in some very newly constructed townhomes right now. They did some kind of wizardry with the walls such that I literally never hear my neighbors. Something about 3 firewalls between the units, not sure what it is but it works. I hear more noise through the windows at the front of the unit then I do through the walls. Make sure you pick an upscale place though, trashy neoghbors might suck.
Parking sucks, But I am so freaking happy I downsized, makes home life much easier to manage!
edit: Like the poster above me I am married with no kids and the 2 br, 2.5 bath works really well.
Parking sucks, But I am so freaking happy I downsized, makes home life much easier to manage!
edit: Like the poster above me I am married with no kids and the 2 br, 2.5 bath works really well.
This post was edited on 2/9/17 at 9:18 am
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