Compared to buying a single family home, what is the resale value of a townhome?

Asked by Rachel, 24502 Wed Dec 5, 2012

I'm a first time homebuyer. Townhome living is ideal for me right now. But will I be hurting myself in the long run by buying a townhome over a single family home?

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Maria Cipoll…, Agent, Coral Springs, FL
Thu Dec 6, 2012
You will have to establish what floor plan will work better for your needs. What ever fits your lifestyle is the best property to buy. Remember you will be living there for a few years and you need to be happy. Check the HOA dues on both and most important the rules, regulations and the standing of the Association (finances, lawsuit, reserves, etc.)

Best of Luck,

Maria Cipollone

Century 21 Tenace
3 votes
Lisa Roberts…, Agent, Forest, VA
Thu Dec 6, 2012
Hello Rachel, I am an agent in the Lynchburg area and I have sold both. Again personal preference is what really matters, as well as location, HOA fees, and I can show you resales in the areas you may be interested in. Townhomes are also great investment properties if later you are in a position to buy a single family home, and rent out the townhome. I would love to discuss all possibilities with you. I specialize in first time home buyers and look forward to hearing from you.

Lisa Robertson, REATOR, ABR, GRI
0 votes
Misty Mount, Agent, Yorktown, VA
Thu Dec 6, 2012
If townhome living works for you, then that is what you should do. I always recommend doing some research if you're concerned with resale (and all buyers should be). Maybe you could find a foreclosure that would give you some equity. Look into neighborhoods that are more "popular" and try to stay away from the "dormant" neighborhoods where nothing has sold in awhile.

A good local agent would be worth their weight in gold. If you'd like some help in selecting one, let me know, I would be happy to help. You also want to think about how long you're planning on living there. If you're looking at a short time (1-3 years) then resale value may be more of an issue for you.

Good luck!
Misty Mount
Long and Foster
0 votes
Scott Foglem…, Agent, Forest, VA
Thu Dec 6, 2012
Hello Rachel,
Now is a great time to invest in real estate. The process is the same for buying a single family home or a townhome.
Its really hard to predict the future and how things will change in the market, but traditionally there are fewer buyers for a townhome over a single family. But there are ways to minimize any risk. I would be happy to share these methods with you. Give me a call or email me.

Scott Fogleman
Witt-Fogleman Team of Keller Williams
Realtor Licensed in VA
0 votes
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