Hi. My wife and I are working with a realtor and she said that townhomes aren't a good buy now. Is this true?

Asked by Jamal Liverpool, Duluth, GA Tue Aug 19, 2008

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Elo, , Suwanee, GA
Sun Aug 24, 2008
As a buyer, you must decide what home choice is best for you...single residence, townhome, condo. And, all choices must then be looked at for location, amenities, price, etc. A professional REALTOR can help you focus and negotiate on the ideal solution. As a buyer, you have an exceptional opportunity at this time. Mortgage rates are still very competitive; negotiation is excellent; buyer opportunities abound. Best wishes.
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Roy Lee, , Atlanta, GA
Wed Aug 20, 2008
Dont' forget the most important thing in real estate is LOCATION. I'm an appraiser and my opinion is if you live in the suburbs, then try to stay away from townhomes. The reason is when you try to sell your property most people in your location would rather buy a single family as opposed to a townhome. If you closer to town, then a townhome maybe a better fit, as it provides more convenience for an intown style of living. I currently live in a townhome in the Brookhaven area of Atlanta and in my experinece townhomes intown appreciate and hold their value more than townhomes in the suburban area.
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Regiane Viga…, , 30114
Tue Aug 19, 2008
I think buying a townhouse is a great buy if thats what you are looking for. I have a townhouse listing in River Green subdivision Georgia. It has all the amenities without the trouble of maintanence. If you are looking for a lot of options, a townhouse in a subdivision will be a great buy. You will know if it is the house, you will have the warm fuzzy feeling as soon as you walk in.
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Lisa End-Berg, , Woodstock, GA
Tue Aug 19, 2008
A townhome may be a good deal if you get the best price for you for that neighborhood in this market. Generally, townhomes are either a price or lifestyle choice. If money is an issue, the entry price for a starter townhome is less than an entry price for a single-family home in the same area. Or, if you desire more square footage or upgrades, you can get more in a townhome over a single family in the same area. Another consideration is lifestyle; while associations will vary, you may have less to do or worry about in a townhome (examples lawn care and roof repair/replacement may be included in the dues) than in a single family where all the maintenance and costs are on on you. The trade is that the monthly townhome/condo dues are typically double the annual dues on single family HOAs. Happy hunting!
Web Reference:  http://www.AskAgentLisa.com
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Scott Godzyk, Agent, Manchester, NH
Tue Aug 19, 2008
Townhomes are only a good of a buy as the price you are paying. First narrow down where you want to be, say which community. With townhouses it is easier to guage value as most are teh same or similar size and style. The difference being the property condition which you can add or subtract for. Find one you like, dont over pay and you will be happy. I try to find them for 12% under avaerage value of what has sold in the last 3-6 months. Remember condominium is a way of living, the added value of having your lawn cut, snow removed and amenities a house may not have such as clubhouse, pool and tennis courts are worth the most to the people looking for this type of living. Go for it... good luck with your search
Web Reference:  http://www.ScottSellsNH.com
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Matt Hermes, Agent, Duluth, GA
Tue Aug 19, 2008

Good question and one that can be very easy or difficult to answer without more information.

They say that it is not what you sell something for it is what you buy it for that makes a good or bad deal.

In this market, townhomes have struggled vs. single family homes, however with that being said, certain area of Georgia have very good resale values of townhomes. Traditionally it takes townhomes longer to sell than single family homes and the rate of appreciation is less with townhomes.

Your agent is more than likely looking out for your best interests but if a townhome is what you want then make sure that you find the best deal available in the area you are looking in. Make sure you get a competitive market analysis done on the neighborhood and any other similar properties within a mile or so of your desired location to make a competitive initial offer.

Good luck.
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Joshua Jarvis, Agent, Duluth, GA
Tue Aug 19, 2008

Right now prices are way down on single family homes but not townhomes. Yet, Townhome sales are way down, I'm talking historically low levels. My analysis of that is that a townhome isn't a great buy....

Of course, townhomes do fit some lifestyle choices and it THERE ARE deals out there for townhomes, but your agent is trying to look out for your best interest in that regard.

If you're locked in on townhomes then let her know, if not, she's giving you good advice.
Web Reference:  http://www.gahomesdigest.com
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Tori Lawson,…, , Fayetteville, GA
Tue Aug 19, 2008
Hi Jamal,
If you are truly interested in a townhome, then that is what you should be looking at. Pricing of townhomes (great deals etc) are area specific. I would recommend you speak a little further about it with your REALTOR if you have additional questions.
Best of luck to you!
Web Reference:  http://www.torilawson.com
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