No doubt that there are lots of benefits of living in townhouses but there is also many reasons that why people decide or prefer to buy single family homes instead of townhouse. The first thing is that these houses are economical to buy, and middle class families can afford the price. Even if you belong to Middle East there are many flats for sale including those in La Vie, Dubai. Two bedrooms apartment are getting popular in single families. That is why people prefer to buy single family homes other than townhouse. In this article we will tell you some disadvantages of living in townhouses.
- Lack of Privacy:
The biggest issue that people have with townhomes is that you are actually sharing a physical wall with your neighbors on either side. this cannot be an issue but it could be problematic for you if you live next to people who are not courteous. This thing insecure you about privacy.
- You have limited freedoms:
It depends on the development; HOA can have very strict restrictions on the changes that you can make outside or inside of your home. If you like to renovate your house or update your house then these townhouses does not suite you.
- You can have financing challenges:
If you are buying a townhouse you can find that your house lender treats it more like a condo than a house. Most of the lenders choose to underwrite all townhomes as if they were condos; they are leading to high costs. Some lenders have nuanced guidelines and ideas, if you are buying a space in area with many townhouses, it would be good idea for you to find a lender with experience in the area.
- Values of resale:
You can have great deal while buying townhouse but when you go for sale this property you have the same discount for others. Because resale value of townhouse does not increase so much.
- Limited Land
When you buy a land for townhouse the lit sizes are limited. This has the potential to reduce the mowing responsibilities. Most importantly, you would not have a significant amount of yard space available to you, which can reduce your other opportunities as well.
There are more disadvantages of living in townhouses which we will discuss in our next article. Look here for more details in this regard.