The 5 Best Tips for Buying a Townhouse

There are a variety of reasons that someone would choose to buy a DeBary, FL townhouse over another home. If you don’t want the exterior maintenance that comes with homeownership, but you would still like the equity and wealth-building benefits of owning your own home, purchasing a townhouse is a fantastic option. 

If you’re in the market for a new townhouse, you should know that this search will be a bit different than if you were buying a single-family home. A few things you’d need to consider in a single-family home don’t apply to buying a townhouse, like a big backyard. Just the same, there are a few extra characteristics and qualities you’ll want to be on the lookout for. Here’s everything you need to know in order to successfully find the best townhouse for your exact needs:

#1 Work with professionals. In this way, shopping for a new townhouse is no different than a single-family home. You want the help of a professional in the real estate industry. This is too important to try to handle on your own! A real estate agent will provide information on the local market, negotiate on your behalf, plus fill out all of the forms and disclosures necessary to successfully purchase the new townhouse. When looking for builders, one of our recommended options is K. Hovnanian Homes, a company devoted to building communities of excellence.

#2 Be aware of local townhouse prices. The only thing that stays the same in the real estate industry is that nothing stays the same for long! Home prices constantly fluctuate, including the price of townhouses. The median cost of a townhouse in DeBary and the surrounding area can help you decide if the asking price is a fair one. 

#3 Factor in HOA fees. All townhouses have a HOA fee, but the specific neighborhood will determine how much they are. These fees go towards incredibly beneficial services, like maintaining the exterior of the building and landscaping. If you’re on a tight budget, you want to make sure these additional fees don’t put you in an uncomfortable spot financially. 

#4 Get preapproved for financing. Take the guesswork out of how much you can afford by getting preapproved before you make a bid. Instead of hoping a home is affordable to you, you’ll know for sure that it is. A preapproval letter is also incredibly helpful if you get into a bidding war with another potential buyer because you can prove you have the finances to back up your offer.

#5 Check out the neighborhood.  Beyond what you need in a townhouse, what do you need in the neighborhood itself? You’re not just choosing a new home, you’re moving into a new community. The most perfect townhouse in the world won’t feel that way for long if it’s in a neighborhood you really dislike or is very inconvenient from the places you go every day.

We know that when you’re shopping for a new DeBary, FL townhouse, you’ll love the options you find in Rivington! Call us at (407) 602-0622 to schedule an up close look for yourself. We know that you’ll quickly realize you have just found your new home!