4 Things to Consider Before Purchasing a Townhouse or Condo
If you’re looking to buy a new home, a townhouse or condominium are great options. Townhomes and condos are generally cheaper to purchase than single-family homes and come with conveniences that would not otherwise be in your budget. During your search for the perfect townhome or condo, be sure to consider these key factors:
1. Floor plan. When searching for a home, you probably have a definitive number of rooms you need. But, while the number or rooms and their size are important, so is the home's interior layout and flow. As you walk through the home, see if you like the layout of the rooms and how they flow into one another. If you're a parent, for instance, an open floor plan will allow you to keep an eye on your children in the living room as you prepare lunch or dinner in the kitchen. Or, maybe you prefer a space with rooms that are more closed off and private. Many new construction townhomes and condos have flexible floor plans to satisfy a buyer's unique needs and preferences.
2. Site amenities. A major perk of living in a townhome or condo is you have access to many great site amenities, such as paved walking and biking paths, beautiful landscaping, and recreation areas. Townhomes and condos are situated in a community that is usually maintained by a homeowners' association. As a result, you don't have to worry about the exterior maintenance and can instead enjoy your home and the wonderful amenities available to you.
3. School district. If you are a parent or plan to have children down the road, the school district in which the community is located is very important. By sending your children to a reputable school in a desirable school district, you can rest assured that they will receive a quality education. The school district is even worth considering if you don't plan on having kids or yours are all grown up. This is because homes in good school districts tend to hold their value, which is a significant factor if you plan on selling in the future.
4. Commute. Consider how the move will affect your commute to work. Does the location put you farther or closer to work? If it puts you farther, calculate how long it will take you to get there, along with mileage, gas, tolls and wear and tear on your vehicle. If you need to use public transportation, does the community provide easy access?
These are critical factors to consider when viewing townhomes or NJ FHA approved condos. What other factors should house hunters consider?
