What is a townhome and why should I be interested in purchasing one?
By definition, a townhouse is a multi-story home that is attached to one or more similar houses by conjoining walls. These homes are usually found in more modern housing developments and are the perfect place for you and your family to call home in Myrtle Beach! Individuals and families alike purchase townhomes for a myriad of reasons, some of these include being part of a close-knit community, the lower cost of townhomes compared to detached single-family homes, the style of the homes themselves, lower utility bills and having less property to maintain. These, and many others are a few reasons why many people are looking more towards a townhome in the search for their perfect home.
Townhomes in Myrtle Beach range in price, but many start under $100,000 and range into the $300,000’s depending of course on location, size, and desirability. Many townhomes have two to five bedrooms with one to four baths and offer buyers spacious living areas, as well as many upgrades such as Plantation Shudders throughout the homes, upgraded kitchen appliances and lots of cabinets and closet space. There are some townhomes in Myrtle Beach that also have a screened in porch, which is perfect to spend summer nights on overlooking a lake, sharing memories with families and friends and taking in the sights of local wildlife.
One aspect we want to point out is that you are not necessarily compromising on space when you look to purchase a townhome. While the setup may be different than traditional houses, many units are the ideal size for families. Many of the townhouses also have spacious living and dining areas, so you will not be pressed for space when entertaining. Also, the different levels of the townhome also give you more living area and a unique home layout.
Buyers will also be pleased to find a variety of styles, including many quaint brick townhomes, that bring a very charming and homey feel to the neighborhood. You will also find many distinctive, colorful townhouses in the Myrtle Beach area that bring a little life to the area. And in terms of location, buyers will also be pleased to see that many of these homes are desirably located near the water, as well as many shopping, dining and entertainment options in Myrtle Beach.
What is the difference between a townhome and a condo?
We wanted to be sure to touch on this topic as to avoid any confusion when we say “townhomes,” as there is some overlap in the two, but they are still different from one another. A condo is a building containing units which are individually owned, and townhomes, while also individually owned, are similar architecturally to row houses where the owners share at least one or more walls. When it comes to size, condos are usually smaller than townhomes, which can feature multiple stores and be quite large in comparison.
Another difference in townhomes and condos is the HOA fees. Condo owners usually pay higher HOA fees, as they go towards exterior upkeep such as removal of trash, pest control, pools and lawn care. Townhouse owners often have a lower monthly HOA fee as they are responsible for much of their own upkeep out of their own pocket. The last difference we want to bring to your attention is the ownership of a condo versus a townhouse. Owners of condos only own their individual, interior unit of the building and all other areas including community areas, lawns, etc. are owned by the owners of the building. On the other hand, the exterior, interiors, lawn, driveway and roof are all property of the townhouse owner.
What are the benefits of buying a townhome in Myrtle Beach?
There are many incredible benefits of purchasing a townhome in Myrtle Beach, the first one being the initial cost of purchasing one. We generally see townhomes as a much more affordable option for families looking to purchase a home, and they are also a wonderful way for first-time homebuyers to establish equity. If you are in love with a certain area of Myrtle Beach but the single-family homes are out of your price range, a townhome is a great alternative for you. It not only affords you the option to live in your ideal area, but it allows you to enjoy the many benefits of a home while avoiding a hefty monthly mortgage and going over budget in the search for a detached, single family home.
Another great benefit of purchasing a townhome is the amenities. Often times the community will provide tennis courts, pools, a community center and park areas, among other attractions. There are some townhome communities in Myrtle Beach that are very luxurious with impeccable lawns, local recreation and even some with ponds and water fountains to gaze at. And since many townhome communities have some sort of an association, you can be assured that these areas will be well maintained for a relatively small fee and not much work from your end.
Utility expenses are another incredible benefit of buying a townhouse, as most structures are relatively compact and at least one wall of the home is shared with a neighbor. This is a big help when it comes to utility bills, especially with things such as cooling and heating, which are usually much cheaper when buyers go with a townhome. While savings like this tend to not be taken into account, it is a very important aspect that can end up making a big difference for you and your family over time. And again, most of the townhome communities have associations, which is another helpful aspect to buyers as they help to keep the community organized and everyone accountable. You can rest assured that the community will be well maintained and any pesky neighbors will be kept in line.
Are Townhomes in Myrtle Beach a good rental property?
If you are looking to purchase a rental property in Myrtle Beach, a townhome is a great option for you! As we spoke about earlier, one of the main benefits is that most of these properties are less expensive to purchase initially compared to a detached home, so the barrier to entry in the rental market with these homes are fairly low depending on the neighborhood. And since your mortgage has the potential to be on the lower end, you would not have to charge renters as much to cover your expenses every month, which in turn would draw in more potential occupants and ensure the property is always rented out.
Also, townhomes are very appealing when it comes to renters as they offer many of the amenities of a detached home, such as space, full kitchen, garage and laundry, without having to pay a heftier price. And seeing as how many townhouses have Home Owners Associations, you can be assured that the common areas will always be kept up, leaving less work and worry for you.
What should I do if I am interested in purchasing a townhome?
Give our experienced team here at Jerry Pinkas Reality a call today! Why spend countless hours on the computer researching and getting frustrated when you can let us do the work for you? We have helped many families get into a beautiful townhome in Myrtle Beach and we can do the same for you. We know you have questions around townhouses and we can walk you through every step of the way. Let our team answer your questions, show you some properties that fit your desired criteria and make the process simple for you and your family. We look forward to hearing from you soon!
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