Are there any benefits to buying a new townhouse, as opposed to buying an older single family detached house?

Asked by Big N, Chantilly, VA Wed May 14, 2008

Ive been looking around craigslist and other various realtor web sites and have found, in the chantilly area, there are many new townhouses priced around the same as an older, larger, detached house. Is there a reason why the townhouses are priced as high as the detached houses? I would assume that the single detached houses, which are on lots 10 times as big as a town house, would be priced far higher. Any insight you could give would be appreciated.

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Douglas Hall, Agent, Chantilly, VA
Tue Feb 1, 2011
pricing is rarely linear in our real estate market. A lot 10x the size of the one next door wont sell for 10x more,,or the smaller for 1/10th. The same goes for square footage. Homes tend to be priced in "general" size ranges. So a 3000 square ft and a 3300 square ft home might sell for approximately the same number even though one is 10% larger than the other (all other factors being equal).

When you are comparing a town home and a detached home within a similar price range you would expect to see the town home newer, large and with significant amenities. The detached home for the same price might be a smaller older home but have a larger lot than the town home. Add for some features, subtract for others and end up at the same price for both.
Buy the home you love, if a yard is important buy the detached home. If having all new amenities is more important, buy the big town house.
Good luck!
http://www.DougHallRealEstate.com
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Cindy Jones, Agent, Alexandira, VA
Wed May 14, 2008
Price doesn't necessarily equate to the type of housing. You can find condos that sell for more than a detached home too. It often boils down to the ammenities and the location. A newer townhouse with a 2 car garage, granite and stainless steel and hardwood floors might have a similiar value to a 15 year detached home with the "basics" in it. You need to look at both options and decide which one suits your lifestyle the best. Once you know then you can narrow your focus down to what you want in your home and make your best deal.
Web Reference:  http://cindyjoneshomes.com
0 votes
Charles Rori…, Agent, Grants Pass, OR
Wed May 14, 2008
Big N,

I agree with Jeff. Another way to look at it is how close would/do you want your neighbors? If you want a little space go with the detached house.

As to why are they priced the same.... Are the detached homes you looking at new like the townhomes? Are they the same square footage? Do they offer the same amenities? If the answer is yes to all three, then the only other mitigating factor would be the location. If the answers are no, then you have your reason....
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Jeff Royce, Agent, Fairfax, VA
Wed May 14, 2008
Big N....generally if you look at townhouses and detached homes at the same price level, the townhouses are going to be larger, nicer, and newer. If you go with a detached house with a yard you are really trading that nicer interior space for the yard. It is really a matter of preference. Some people like a nicer house and go with a townhouse, and others like a little more privacy and some space around them and go with a detached home.
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