Home Buying in Eden Prairie>Question Details

Manuela792, Home Buyer in 55346

Town home or single family house?

Asked by Manuela792, 55346 Fri May 21, 2010

I can afford to buy a brand new townhouse or 25 year old single family house in same location and same size, and can't decide which one would be better option. My husband prefers single family house with big yard and I prefer brand new townhouse. We are new in Minnesota and we are not familiar with market here. If we live in purchased property for 10 years and then we decide to sell it , which one can be sold faster - the single family house or the town home? Which one holds its value better? Could you give some advice please?
Thanks a lot

Help the community by answering this question:

Answers

8
You just said it part of the answer. something new but with a neighboord sharing two walls and checking if something you do outside needs to be approve by the association.
A townhome will have rules and regulations, such as, parking at certain places and certain hours, noise / parties, etc, etc ,etc.

In a house, you have to follow the city rules and regulations only. You can paint of change the siding of the home to your choice, instead of everyone desision in an association.

Both have advatages and disadvantages.

We could assumed that something new, won't have any isses in the next 10 years, and any issue the whole association will have to deal with it. If you buy a home, you will deal with every detail.

Do not worry about cutting the grass and remove the snow, there are companies that you can hire to do it, if you buy a house. In a TH, ussually, that is included in the Association fee.

To the end. buying a TH could not be the same monthly payment, ask how much is the assiciation fee and Please, check with your finance person.
1 vote Thank Flag Link Fri May 21, 2010
Single family will almost always out perform a townhome for resale. If you would like I can show you specific sales data regarding townhomes vs single family in any given area. That shows what the market bears for each.

Ryan
612-750-4887
1 vote Thank Flag Link Fri May 21, 2010
We would need more specific information. In general it comes down to what you want. New is nice, but there are more cost's, such as window coverings. If you have children, a yard is a great thing to have. Good luck.
1 vote Thank Flag Link Fri May 21, 2010
I would say if you have kids and need a yard go single family,. Less families may be
in townhomes. The market in ten years really cannot be predicted.

Single family you do all the outside work, etc. and make all your own decisions
about the exterior.

Townhome living the yard work, shoveling is done for you and you pay an
association fee for this. You will have abide by the rules and regulations
for the association. So, if you want to pay your townhome white you may
not be able to get it approved.

Both kinds of properties can hold their value. I would it would depend on location
of the structure.

Annette O'Connor
Coldwell Banker Burnet
A licensed Mn. Realtor
0 votes Thank Flag Link Wed Apr 18, 2012
It appears the family interests are split. You want minimum involvment in your home care and maintenance and the hubby would like to spent time with outdoor activies, maybe even gardening. It is much easier to record the past than to predict the future. Ten years will change the city demographics and your situation. How the community adapts to the changes will determine what is more valuable, single family or townhouse. My suggestion is to buy something you are comfortable with today and make changes as your situation changes, ie empty nester now or 10 years from now. Homeowners who adjust to the change will be happy with the purchase and satisfied with the return. I would suggest doing some soul searching and somg "google" searching. The past favored the single family home in sales time and return.
0 votes Thank Flag Link Thu Jul 15, 2010
Good morning! Although it is very risky to predict the future, past experiences are helpful. Prices depend on condition, size, location etc. The traditional thinking is the single family home will hold its value better than the townhome. Also, the single family home should sell faster than a townhome or the same price. Feel free to contact me for additional information or if you wish to sit down and review your plans.
jerryrenner
0 votes Thank Flag Link Sat May 22, 2010
If you're strictly talking about how well they sell, I would say that single-family will always perform better than a townhome. However, with baby boomer generation coming to retirement age, townhomes may be a close 2nd place!

So, from there, it depends of your lifestyle and how much your ability to make your own choices means to you and your family.
0 votes Thank Flag Link Sat May 22, 2010
Manuela, this is a decision you have to make based on your lifestyle. I can tell you I prefer a single family residence vs a townhome. I have children who have grown up and still live at home we have so many cars that we would have outgrown a townhome just on that basis. We like to entertain outdoors so we needed the space for that too.

The only thing I can say for a positive about townhomes is maintenance is minimal but you pay for that.
0 votes Thank Flag Link Fri May 21, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer