Condo, Townhome or Single Family Home?

Posted by Larry Tollen on Sunday, January 26th, 2020 at 3:10pm

Looking for a Condo, Townhouse or Single Family Home

"4-bedrooms and 3-baths and at least 2500 sqf."

So often this is how buyers start off our initial conversations. If we were like most brokers this information and a price range and we'd be off and running. The question is , "Are we really adding value and helping the buyer if this is all we discuss?" This is one example of where the "Experience" in our logo pays off. We understand that when it comes to buying a home, everyone is unique. Because of our extensive building background we know that square footage is much less important than layout. We've all seen examples of wasted square footage in a home. Yes the number of bedrooms and baths are a consideration, but if this is the extent of the information we start with, a lot of time and perhaps even the perfect home is likely going to be lost.

We'll figure it out together.

While some people dream of owning a big house complete with a yard, a porch, or a pool, others would prefer the relative ease of a condominium or an apartment. For many, a townhome is the perfect compromise. Many of our buyers use as sounding boards as they consider some of the following:

  • How much maintenance do they want to handle? If you own a house, you are responsible not just for repairs and upkeep inside the home, but also outside. You will need to be prepared to handle landscaping, lawn care, siding, windows, roof, etc. If you own a Townhouse, you're responsible for the interior and will pay a monthly fee for exterior maintenance. What's actually covered can vary tremendously and you need to review the covenants and restrictions or speak with the management company to confirm what is and what isn't covered. For anyone looking for a low or no maintenance, a condo or apartment will significantly reduce your upkeep workload.
  • Do you want decorative freedom? If you own your own house, you can generally paint, redecorate, or remodel to your heart's content (so long as you don't violate any HOA restrictions). Townhomes usually offer slightly less freedom when it comes to the exterior, but the interior is still fair game. If you've always had the itch to renovate your space, a condominium or apartment isn't likely your best bet. Many condos and apartments limit any permanent changes to the space. Cosmetic changes such as paint, floor coverings, light fixtures, countertops etc are generally permitted, but you'll need to confirm this.
  • Location! There's a reason for the saying that Location, location, location are the first three rules of real estate. Do you need want to be within a specific drive time to your work, friends, lab, family member, schools? While homes can be improved, we can't say the same for drive times. We encourage you to really give this some thought.
  • How much space do they need? A growing family may want the space that a house would afford, while an older buyer; possibly downsizing; might prefer a condo, an apartment or a small cottage style home in a planned community. While townhomes typically offer smaller footprints than a detached house, it could still offer multiple floors, a porch for socializing, even a yard for a dog.
  • What's your the budget? You may not be financially ready to purchase a house. If your working with a tight budget but still want to be a homeowner, scaling down to a townhouse or condo could make that dream a reality more quickly. A frank discussion with a qualified lender is always worth a buyer's time.

We understand everyone has different needs at different times in their lives. Our "Experience" allows us to help you ultimately make a better home buying decision and that's always our primary goal when working with our buyers.

My NC Homes

1011 S. Hamilton Rd. Suite 300 Chapel Hill, NC 27517
Phone: 919-451-7868

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