Once you’ve saved up a significant amount of money and moved other financial obligations out of the way, it’s time to act on one of the biggest dreams that you’ve set for yourself: buying a new home.
With America’s real estate market becoming even livelier than ever before, the fact that there’s no better time to buy a new home than today is a complete understatement. From single-family units to double-digit-occupancy manors, the options on the market today are ever-abundant with attractively low listing pieces attached to them.
Now that you have an idea of your budget and where you want to be, searching for your dream home is now quicker with only a few deliberations left. As prices continue to remain low indefinitely and properties continue to be sold much faster than ever, it’s important to choose a property and close it fast.
But before you can even think about signing the mortgage on what is going to be your next home, there’s one dilemma that’s bound to be on your mind: “Should I go for a condominium or townhouse?”
Telling the two apart
While the list of options that you’ll come across when searching for a new home across America is nearly endless in terms of variation, your search will likely come down to choosing between condos and townhouses.
Undoubtedly regarded as the two most practical property types on the market today, both listing options provide comfortable living experiences, unhampered accessibility, and convenience. Yet, the problem is that most people don’t realize that condominiums and townhouses are two completely different types of properties that are best suited for certain types of homeowners.
Fortunately, you won’t have to go through a trial and error process when choosing your next property because reading on will help you easily determine which option is better for you:
Often regarded as every property developer’s solution to the scarcity of space, condominiums are space-saving properties that are easily recognizable because of their apartment-style living conditions.
With this type of property, you essentially own the space within the walls of your apartment but don’t own the spaces outside of them but still have every right to enjoy these common areas like others in your community. Commonly available in the form of high-rise units, condominiums are a hot commodity among young professionals, small families, and independent city-dwellers who love to be near amenities and hot spots around town.
Suppose you want a property that’s convenient, affordable, and comfortable simultaneously. In that case, this type of property is well worth considering since it provides an experience that falls in line with what anyone expects from homeownership!
When you consider the idea of living in a townhouse, the very first thing you should expect is that it will provide a living experience similar to what you’d expect from a traditional house.
Compared to condominiums, these types of in-demand properties are multi-leveled, have front yards, and backyards that give you a bigger sense of space. Yet, it’s worth noting that the bigger nature of townhouses requires a much greater level of upkeep since you’ll be responsible for a larger area.
But if you want a home that’s more traditional, offers more space, and an increased level of privacy, then townhouses are an option that you should consider above all else!
When it comes to purchasing a home in Washington, the two main options you’ll end up deliberating between condominiums and townhouses. In fact, both options have their respective advantages worth buying into. By considering this guide, you’ll be able to ensure that you purchase or invest in a property that’s best suited to your needs and preferences!
If you’re looking to apply for a home loan in Washington or learn more about current mortgage rates ahead of your property purchase, paloRATE is here to help. Get in touch with us today to learn more about how we can help set you up with competitive interest rates and closing costs!