To buy a townhome or not to buy, What is your feedback?

Asked by Jon, 34786 Tue Dec 4, 2007

Would you buy a builder spec home about 45 away from work, or a townhome built to YOUR specs about 5 minutes from work? Is it worth buying a new townhome in Horizon West? How much should I offer for a home that builder has it priced at 205k with all of my options? Thanks for your help.... Any research is greatly appriciated...JON

Help the community by answering this question:

+ web reference
Web reference:

Answers

7
Greg Traub, Agent, Orlando, FL
Tue Dec 4, 2007
BEST ANSWER
That's a very personal decision really. I would personally choose the townhome with all my options close to work. But then again I don't miss a backyard, and I also don't have the time, nor do I like to have to do much of the maintenance a single family home requires.

Single family homes almost always appreciate at a greater rate than townhomes though. So if the long term investment aspect is all you care about get a single family hands down. Remember you have to live in the place though.

Horizon West is one of the newest HUGE DRI's that have come to Central Florida and should be a great place to live. As far as what to offer the builder, that would require information about what neighborhood, what builder, what model, what options, and how strongly you are qualified. Only a local realtor that knows your situation and is up to date on certain builder situations would be best to consult, of course being one myself, I recommend you get yourself a buyer's agent. They know how to negotiate with these builder representatives and the builder pays them for you out of their marketing budget.
Web Reference:  http://www.gregtraub.com
0 votes
Mark LeMenag…, Agent, Lake Nona Orlando, FL
Mon May 31, 2010
Easy, I'd buy something built to my specs only 5 minutes away. Let's see, 80 minutes a day is 400 a week and 1600 a month. That's 26 hours a month of extra commuting. In other words more than ONE full day a month in the car.

Regarding the other questions, I note this question is now 2 and half years old, so they are moot points now. Obviously, if you bought a spec home in 2007 you got burnt financially.
1 vote
Melissa A. S…, Agent, Windermere, FL
Thu May 27, 2010
Hi Jon,

it really depends on your long term use of the property. If you are looking to stay a few years and sell in 5 years or less but want to be close to work for awhile then I would say a townhome is a good option especially if maintenance is a time crunch for you with owrk. However if owning a single family home with all the options you like is a dream of yours then single family homes hold better long term value than most town homes and the drive may be worth it. Just consider buying a hybrid to save on gas! :) Right now if you do go with the home, builders should be offering you everything including the kitchen sink to get your business so don't go higher than you are comfortable going and be sure to have them throw in some new appliances and blinds which most home owners forget to ask for when building new. Hope this helps.
0 votes
Greg Traub, Agent, Orlando, FL
Tue Dec 4, 2007
There is no doubt any property....long term....can be a great investment. And a townhome is certainly better than a condo. As far as other developments and projects going on around the home, the Horizon West area in Central Florida is a master planned area and the development of lands for the next few decades is already pre-zoned and thought out. It has the New Urbanism plan that has already proven to be extremely popular in FL, with the "live, work, play" mantra to help aleive some of the urban sprawl that orlando is starting to have problems with. This also ensures green and wildlife area's, and a focus on keeping the area very community oriented.

In the next 5-10 years the area will double or triple in population with very good access to a brand new highway (429) that connects with major tourist and Disney area's.
0 votes
Kelli, , 80202
Tue Dec 4, 2007
Town homes, if in a good location and properly maintained can be a decent investment. Just know exactly what you are getting and also consider future development of land around the home, or any other ongoing projects in the area that could relate to the future value of the town home.
0 votes
Francesca Pa…, , Monmouth Cty NJ
Tue Dec 4, 2007
P.S. Your questins are well thought out and right on the money (no pun intended)!
0 votes
Francesca Pa…, , Monmouth Cty NJ
Tue Dec 4, 2007
Jon,

Would you buy a builder spec home about 45 away from work, or a townhome built to YOUR specs about 5 minutes from work?
---------------------------------
To me, the above question is a personal choice.

For the remainder of your questions, (and I don't' usually say this), it would be in your best interest to have a no obligation consultation with a LOCAL realtor as they are more likely to know the builder motivation in that area. Most likely, they've have done a plethora of research in the area already and can answer your questions. If you develop a comfort level with that person's personality and knowledge, let them represent you for the purchase.
Web Reference:  http://www.PatrizioRE.com
0 votes
Search Advice
Search
Ask our community a question
Market Conditions in Windermere Zip Codes

Email me when…

Learn more