Mounds View townhomes for sale are quite often priced more favorably than traditional single family housing due in part to the use shared walls and common areas. The townhome association to which you will be required to belong is responsible for upkeep of these common areas as well as some of the exterior maintenance of your home as well. This can make buying a Mounds View townhome especially appealing to busy first time home buyers as well as to retirees who prefer not to deal with that type of upkeep.
This does not mean that the maintenance of the home is free, of course. As part of your financial responsibility for owning a Mounds View townhome you will be required to pay a monthly association fee. This monthly fee covers a number of things but as to what it covers can vary from one Mounds View townhomes for sale association to the next. While your monthly association dues might include insurance coverage for your dwelling in one homeowner's association, you might have to pay that on your own in another. It is important to review this information before you sign a purchase agreement to buy a Mounds View townhome as your monthly costs could vary significantly depending upon the association.
Mounds View, MN is a convenient northern suburb located just north of Minneapolis and St. Paul. With a population of just over 12,000, Mounds View residents enjoy the benefits of a small town despite their location near the central metro. Located in Ramsey County, first time home buyers may want to check out the Ramsey County First Home program with down payment assistance of up to $10,000. If you are looking to buy or sell a home in Mounds View, please don't hestitate giving me a call.
You should also know that in most associations the interior contents of your home will not be covered by the association insurance. All this means is that you will need your own separate policy for the interior contents of your Mounds View townhome, which is an additional annual fee to your insurance company. If you need mortgage for your Mounds View townhome your mortgage lender will require that you buy and maintain this type of insurance for your home.
The first step in the home buying process is to get preapproved for mortgage financing. This simply means that you talk with a local lender who will review your financial situation. In this discussion they can tell you what types of MN first time buyer programs you might be qualified for. This first step can usually be done right over the telephone and most lenders will even do this with you when you are off from work.
Sales Executive, Licensed Realtor in MinnesotaÂ
Century 21 Premier GroupÂ
1660 S. Highway 100, Suite #578
St. Louis Park, MNÂ 55416
With a focus on Twin Cities real estate and surrounding communities.