Dear Karishma,

Buying any home, weather private house or a town house / condo is a big deal that requires much consideration.

Townhouses, in particular, are a wonderful option for people who are looking for care free living. The list of type buyers is long and includes many first time buyers (single or just married couples, couples with or without children). Sometimes it will be buyers who are interested in "newer construction" but have limited budget.

Just as mentioned by my fellow realtors, there are always buyers for townhouses. I would not worry about the style of the house but concentrate on your needs and budget when making the decision what type of home to buy.

We had the pleasure to market few townhomes this year and all were sold under 60 days, one with multiple offers.

I hope this would ease your mind if you are choosing to buy a townhome. you may contact me directly to my cell 917 294 0356 or via my email SharonandKaren@PrudentialNewJersey.com with any further questions.

Sincerely,
Karen Abramson
Prudential New Jersey Properties
50 E. Mt. Pleasant Ave.
Livingston, NJ 07006
Cell 917 294 0356
SharonandKaren@PrudentialNewJersey.com

There's not a general answer for this. The townhome community surrounded by woods and near transit and shopping will fair much better than the community built near the high wires with horrendous views.

Having said that, townhomes are a great alternative to single family living. You are wisely worried about resale. Before you buy, determine how many units there are, and how many like the one you are interested in. How long do they sit on the market, how many are on at any given time, any foreclosures (comp killers), what were the most recent sales, for how much, and how many days on market. If you were looking in that community, and there were 6 on the market just like it, is there anything about any of the units, such as location, etc, that makes one stand out? That's the one you want. Do end units sell better there? What about walk out basements? Try to see which ones get sold with the least days on market and if there is a trend, that's the type you want for resale.

You should also check the finances of the community -- any assessments looming? What about permits for cell towers? These are not unusual once in a lifetime happenings. In the last three years, I've seen such items kill an area. Also, anything about the construction, i.e., artificial stucco, maintenance of grounds, etc.

So -- now you've become an expert on that community and you like what you've learned. Time for the next step. Anyone building your competition in the town / neighborhood? When newer items go up, they become your competition and newer generally fairs better unless they have negative aspects.

It's pretty much the same shopping for a home as townhome, with a few major exceptions: you are at the mercy of the association for expenses, your competition looks identical to yours so you are not as differentiated, other owners financial status, i.e., short sales / foreclosures will affect your price more.

Hope this helps. I've sold a few this year, and location rules!

Hi Karishma
Townhome communities are wonderful to buy and live in. As Jeanne said, there will always be those starting out, and downsizing who will be looking to buy into that easy lifestyle. It's a pleasure not to have to worry about lawn care or snow removal! I live in a townhome community myself, , and bought when my son went off to college......so, I'm on the downsizing list! There are a lot of good bargains out there.

There are a number of complexes in your area in various price ranges. I recently sold a large 3 bedroom unit in Skyview Heights in Parsippany, in the mid 300's with pool and tennis courts.
There are many models to choose from in the Powder Mill area, too. You can find units priced form the 200's to 600's - so there is something for everyone. Staying along the Rt 10 or Rst 46 corridor will offer you many options.

Please don't hesitate to let me know if I can be of help...I can always send you some listings to get you started!

Best wishes.
Debbie Rose
Prudential NJ Properties
email: Debbie.Rose@PrudentialNewjersey.com

Hi there Karishma, townhomes/condos draw on two prospective buyer pools - first time buyers and downsizers. No matter the economic climate, there will always be people want to enter the market and those that want to scale down.

Buy what you can afford, what you like and will enjoy living in. Be mindful of location and avoid factors that could negatively impact saleability (high tension wires, highways...) and work with your agent to negotiate a good price.

With that in mind, come on in, the water is fine, better than fine - prices relaxed, historically low borrowing rates, and the tax credit extension is looking good!

If I can be of service, you can reach me via Trulia or by visiting my website http://www.feenick.com

Good luck!
Jeannie Feenick
"Unwavering Commitment to Service"
Search the MLS at http://www.feenick.com