Are you planning to downsize and switch to a town home? Well, it’s time you de-clutter the house and prepare to move to the new home. Wondering what the craze of a town home is all about? Before you make plans to furnish your new residence, it’s good to sneak into a few facts and understand why investing in town home is a good investment.
One basic fact you need to know about these residences is that they are single-family homes but separate you from the neighbour with a wall. Sounds like a deal breaker? Well, it should not, as there is a flurry of benefits that come along the way when you choose town home living.
Here are the points you must keep in mind when planning to invest in town homes for sale Kelowna.
1.Convenience is the key
These residences are usually close to the city, meaning that you are not too far away from the downtown area. At the same time, you can enjoy peacefulness and tranquility away from the bustling crowd of the city. So, you will love your dinner and drink at night and order from the most amazing food outlet if you want and enjoy it with your loved ones in the serenity.
2.Privacy and safety
When it comes to security and privacy, the town homes offer the perfect concoction of both. Even if you decide to offer your residence for rent, the tenants enjoy the private entrance as well as a backyard. Apart from this, town homes are like communities where you can get maximum security and safety. The tenant will feel safe being surrounded by other people. It is a great living option for the aged population.
3.Low buying price
Compared to single-family homes where you need a whopping investment, the town homes for sale Kelowna BC are price-friendly. If you are investing in a house for the first time, investing in the latter will allow you to build a substantial fortune and a portfolio if you begin with a smaller down payment or low capital house.
As townhouses are similar to community living, you are likely to get adequate amenities like a pool, playground, clubhouse, and the fees for these are often included in the HOA fee.
5.Value appreciation of the house
One of the major benefits of owning a town home is how it appreciates in value over the period. Similar to other real estate investments, the value of a town house tends to grow over time compared to single family homes. Typically, the market value of the townhouse depends on the local market conditions and its desirability. Based on the condition and the location of these homes, the value will appreciate. At the same time, ill-maintained town homes will not go up value-wise.
6.The positive flow of cash
Ask the modern home builders Kelowna and you will come to know that town houses generate a positive flow of cash. As these homes are generally more affordable than the rest of the options, the flow of cash that remains from your rent is always positive. Even if you need to take out a home loan, the monthly mortgage payment is low and provides you with positive savings at the end of every month.
Detached homes are generally inexpensive and condos are a bit on the higher side depending on the location and the design features. The reason why people prefer the town houses is that they are usually more spacious than most apartments but will not cost you as much as a condo. If you are looking forward to a blend of place, size, and affordability, the townhouses are a fantastic choice.
8.Low maintenance fee
Wondering whether you need to shell out a huge maintenance fee for your town home? Well, step back and rethink and you will quickly know that the maintenance fees for the townhouses are lesser than condos and vary based on the area of the house. So, it is an added perquisite of living in a townhouse. Above all, the respective HOA or corporation is responsible for the upgrades and fixtures, making you stress-free.
Just because living in a town house is affordable does not mean that they are not aesthetically enriching. The town homes for sale Kelowna incorporate the latest technology and updated features, so you can forget about renovation within the next couple of years.
Overall, town homes are likely to draw several buyers in the coming times and incorporate more heat in the already hot real estate market in Canada. So, grab the best opportunities from builders like Dilworth Quality Homes Inc, which symbolises trust worthiness, and enjoy your lifestyle in the preferred space.