what are the pros and cons of buying a townhouse? any updates on Etiwan Pointe, Mt. Pleasant,SC?

Asked by Jackie, Charleston, SC Fri Feb 12, 2010

Since I donot know anyone who owns a townhouse, I know nothing about townhouses.

Help the community by answering this question:

+ web reference
Web reference:

Answers

6
Brad Braun, Agent, Folly Beach, SC
Fri May 9, 2014
Here's four pros of buying a townhome:

1) You can be lazy, you're yard is manicured for you! This is where your Homeowne's Association comes into play, you pay a monthly fee to them for them to manage the grounds of your property.

2) The units are close and the parking areas are generally shared. This will allow you to be in close contact with your neighbors. There is a sense of security with having others nearby, and you can generally find a good pool party.

3) Townhomes are generally less expensive than Detached Homes and so you can save your cash while still experiencing home ownership, in the Mt. Pleasant market, townhomes and condos are experiencing growth about on par with Single Family homes, so you can invest like you would a stand-alone home, but with usually less in home price.

4) When you buy a town home, you buy a community, meaning you're going to get amenities, they usually come with a gym, laundry facilites, a pool, a clubhouse, or a number of other amenities that you may or may not find in other neighborhoods.

4 CONS to buying a townhome:

1) Exercise is mandatory! Townhomes are almost always two or three stories high, you will have a bedroom on one floor and your living area on another. If you have bad knees, this can be a con.

2) Even if you've paid your townhome off, you're still going to have the monthly HOA fees, they are there to maintain your property and so you will have that fee for good.

3) If you own big pets, big cars, big toys, or large furniture, you're going to find most townhomes a little cramped. Because they share common areas, if you have a household with more than one car, for example, you may have to wrestle other neighbors for the close-up parking spots, and there could possibly be a fee associated with extra parking etc..

4) Privacy issues is one of the main complaints of townhome owners, unless you live on an end unit, you're going to have neighbors on both sides of you, and yes you will hear them and vice versa.

Hope this helps! Good luck with your search and feel free to ask away!

http://cmgcharleston.com/etiwan-pointe/ This is a link to Etiwan Pointe's HOA if you want to read up on their dues, rules, etc.
0 votes
Maggie McDuf…, Agent, Mt Pleasant, SC
Sun Apr 6, 2014
Hi Jackie,
Etiwan Pointe is a beautiful place to live and a great location if you're looking for ease to the highway. What attracts you to the thought of a town home? Just like owning a single family detached home there are pros and cons and it will vary depending on what you're looking for. The regime fees and HOA fees can become a burden but that may outweigh your desire to have little to no yard work. It really just depends on you and what you're looking for! My best advice is to talk to your agent (or me!) about what you're really looking for and then match that up to the features and amenities of town home style living to determine if that is the best style home for you.

I hope you find this helpful and of course let me know if I can be of assistance!
0 votes
Lelia Adele…, Agent, Mount Pleasant, SC
Thu Mar 20, 2014
Hi Jackie,

I think the only cons are the regime fees, and management. Be very careful and do the research on the managements responsibilities; how often they can raise regime fees, their reputation for maintaining their responsibilities to the property, ect... All are very important!

Good luck and let me know if you need an assistance!

Lelia Adele Keel
http://www.oldmountpleasant.com
Prudential Carolina Sun
1440 Ben Sawyer Blvd
Mount Pleasant, SC 29464
C: 843.330.8844
O:843.388.8118
0 votes
Darcy Creatu…, , Charleston, SC
Wed Sep 14, 2011
I currently live in a town home in Mount Pleasant. If your looking for a basically maintenance free home Etiwan is a great choice. These homes are classified as a Condo. Etiwan Pointe has great amenities pool, fitness room, clubhouse. You pay higher regime fee ( a con) but this fee covers termite bond, insurance, irrigation, landscaping, and all maintenance from the sheet rock out.

Right now they are offering a 9500 dollar buyer incentive for the first 11 sales and I beleive they have one contract left.
0 votes
The Charlest…, , Charleston, SC
Fri Feb 12, 2010
Jackie,

Townhomes can certainly be a good investment. If they fit your individual needs and plans, then they could be the type of property for you.

It will be important, as it should be with all real estate purchases, that you do your homework and research the market in general and the specifics of the townhome you desire.

Questions I would ask:

- What does the market look like in the area and then the specific subdivision where the townhome is located? How many sales in the last 6 months/12 months? How many active properties? What is the average time on the market? Are they primarily investor owned or owner occupied? How long has the subdivision been in place? What kind of amenities are included?

- Who is the builder of the townhomes? What is their standing at this point? What kind of warranties are offered? What is the quality of construction? Any pending lawsuits? Bankruptcies?

- What is the status of the homeowner's association? Who manages the HOA/POA? What are the regime and homeowner's fees? What do they cover?

Many townhomes and condos were built as the market began to decline. Thus, we have quite a local inventory and some subdivisions have a very low rate of occupancy. The upside of this is very low prices, the downside of this is can be unstable HOA/Regimes and ever changing fees and headaches as well as in some cases bankruptcies..

I would advise, if a townhome is for you, buying in a well established community with an established track record, in a stable or growing area - look at schools, access to business, shopping, recreation, etc.

Good luck and let me know if you need any help. My websites and team are at your disposal. We serve buyers/sellers/investors through our sales business and also own a full service property management company for those needing management services or lease options - all located and focusing on Mount Pleasant real estate.

Jim Grady
The Charleston Real Team - Keller-Williams Realty
Palmetto State Property Management
http://www.charlestonrealteam.com
http://www.palmettostatepropertymanagement.com
(843) 460-4939
0 votes
Scott Godzyk, Agent, Manchester, NH
Fri Feb 12, 2010
Jackies buying a condominium is buying a way of life. There are pros and cons of living in a townhouse and in a condominium developement. The pros are no exterior maintenance, the lawn is cut, the snow is shoveled and the exterior is maintenance free. The cons are you are limited in what you can do, you may not be able to plant flowers, wash your car, hang a flag, hang a towel out to dry... so read teh rules carefully. The biggest thing is noise. Make sure that you go inside and listen, can you hear your neighbor going up and down teh stairs, a dog barking, smell cigg smoke or what they are cooking. Most townhouses are built well and these are not factors, but the onces that are not... this will affect your life. I hope this helps
Web Reference:  http://www.ScottSellsNH.com
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more