Are you moving to a new area and not sure whether to get a townhouse or a duplex? Here are some differences between the two, as well as a few pros and cons of each to hopefully help you decide which option is right for you!
The main difference between a townhouse and a duplex is the way that they are constructed. A townhouse is a type of medium-density housing that can usually be found in cities. They can either be terraced or semi-detached and are sometimes part of a row of houses with multiple floors (otherwise known as row houses). A duplex is a set of apartments that has two separate entrances for two different families.
To go more in depth about the townhouse, they are usually a part of a row of houses. This means that they all share at least one common wall with each other. Since they are practically part of a huge complex, this means that you share every facility within the complex with all of your neighbors (this can include the neighborhood swimming pool, gyms, the park, playground equipment, and much more). These commonplaces can be managed by the Homeowner’s Association (HOA), but your own home and land will most likely be maintained by you. Townhouses can accommodate several families and have multiple terraces. If you own a townhouse, each of the owners has their own unit of land in which their house sits. This means that they can easily be sold at an individually.
Duplexes, on the other hand are apartments that have two separate entrances for two different families. It has two floors, each having a different entrance, yet they share a common structure because they are mostly built side by side (meaning that they also share a wall just like the townhouses). However, there are other duplexes that are built one on top of the other. Unlike townhouses, duplexes are rarely seen with a terrace. There is also only one owner in a duplex, and they are sold only as a single piece. You can also live in one section of the duplex and rent out the other.
Pros and Cons for Living in a Townhouse:
Townhome residents are landowners. You can play with your pet, sit out in the sun, or even do your morning exercises right on your front lawn. Townhome Owners only need to take care of the inside of their homes. Usually, the HOA is responsible for external maintenance, such as mowing the lawn, weeding, parking lots, shared driveways, etc. This means less work for you! Townhome neighborhoods usually have better security. This is because of how close everything is. The closer you are to neighbors, the more aware you are of each other. It is also due to the neighborhood being well-lit (most of these neighborhoods also have a security gate). Residents of townhomes share common areas and other amenities maintained by the HOA. Because of this, you can have fun at the playground, pool, clubhouse, or any other area without having to worry about a thing! Townhomes are almost always less expensive than single-family homes. They tend to pay lower utility bills and have fewer maintenance costs than other homes.
However, living in a townhouse means less opportunity for being creative. With an HOA in place, you need to abide by their rules. You also have less privacy, since your neighbors are very close. And, as mentioned before, you generally have a smaller yard than a regular home.
Pros and Cons of Living in a Duplex:
Duplexes allow you to have more privacy since there is more space to work with. They are also ideal for two families, so if you want to be closer to other family members (for instance grandparents), they can live in one while you live in the other! Duplexes are also relatively affordable compared to single-family homes with the same number of bedrooms. As mentioned before, they can also be a great way to generate some additional income. You can rent out the other section of the duplex to a tenant, or make it into an office space. If you have bought the duplex using a loan, this could be used as the perfect way to pay it all back!
However, owning a duplex means that all of the maintenance is your responsibility since you technically own the entire building. If you are not able to professionally manage a duplex, this may not be the best option for you. There is also no guarantee of rental income since tenants are generally temporary.
Now that you have a few facts about townhomes and duplexes, you can decide which option is the best for you! Do you want to have more privacy and the possibility of extra income? Do you want more security and less self-maintenance? The choice is up to you! No matter which you choose to go with, Accel Realty Partners is here to help you every step of the way! If you’re thinking about moving to Idaho, click here to check out 10 reasons why making the move to Idaho is a great choice!
Maybe you’re renting a townhome or duplex right now. Click here to read some of the pros and cons of renting versus buying!
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