Many families in British Columbia find it difficult to choose between investing in a townhouse or a single-family home. Both property types offer distinct advantages and disadvantages. Townhouses, for instance, allow working-class parents to live closer to central areas or reside in a downtown core. Houses, on the other hand, provide the complete residential neighbourhood experience.
The right choice should consider your location needs and budget. The best way to narrow down your options is to understand the key differences between a townhouse and a detached family home.
Defining a Townhouse
Townhouses are often conjoined units that fall between two types of ownership: freehold townhouses and condominiums. Either way, each unit is owned by an individual homeowner, but any common areas and the plot of land belong to a home ownership association (HOA).
Townhouses are the go-to choice for families with a smaller housing budget they often cost less. Some perks of choosing to settle down in a townhouse includes the following:
- Affordability – Seeing as you are only buying the unit instead of the plot of land in a townhouse, it is often less expensive and therefore more accessible for young families and first-time home buyers.
- Sense of Community – Whether the townhouse is conjoined or sem-detached from other units, townhomes are often deeply connected with your neighbors. This creates a stronger sense of community, especially if there are common areas like dog parks, recreation halls, and pools.
- Low Maintenance – Since townhomes fall under a home ownership association, any maintenance, removal, garbage disposal, landscaping, and other repairs are under the HOA’s responsibility.
Defining a Detached Home
A detached home is a stand-alone building wherein the homeowner has full ownership of the property. Which means that all other responsibilities fall under your hands, though it comes with plenty of benefits such as the following:
- Privacy – Since detached homes do not share any common areas with other people, it offers a higher level of privacy to a homeowner. There is also an option to improve your new homes security by adding features like fenced yards.
- Square Footage – Detached homes are often larger than townhouses, giving homeowners more freedom to accommodate a growing family. Homeowners also have the option of having larger yards for gardening or outdoor entertainment.
- Resale Potential – Since you own the title of property in a detached home, homeowners have the flexibility to enhance any part of the house – be it landscaping to beautify the exterior or do renovations.
Choosing between investing in a townhouse or detached home depends on your needs, situation, and budget
The right choice between the two property types largely depends on personal preferences and lifestyle. Detached homes offer higher appreciation rates and resale value, not to mention, it caters to a growing family.
Townhouses, on the other hand, are a great choice for families who are on a budget and want to reside near central locations, full amenities, and convenience.
If you are looking for a townhouse or house in Abbotsford, British Columbia, get in touch with us to see how we can help.