Allegheny County PA Townhomes & Townhouses For Sale - 225 Homes | Zillow (2024)

FAQs

Do townhomes have good resale value? ›

While townhomes often have lower appreciation rates compared to detached houses, they tend to be attractive investments due to their affordability, lower maintenance, and potential for consistent rental income. However, HOA fees and community amenity upkeep can significantly impact their desirability and resale value.

Townhouses usually retain their value, but they may not appreciate as much as detached homes. That said, a townhouse is still a good investment, especially if you want to buy real estate without committing to high maintenance and utility costs.

The value of townhomes can appreciate over time, depending on the market dynamics and the property's location. This aspect of investment offers the dual benefit of rental income in the short term and potential long-term gains.

Many condos and townhomes are multi-floor buildings with lots of different units. While newer construction has started to focus more and more on noise reduction due to the clear financial benefits of proper soundproofing, older buildings are often lacking in the soundproofing arena.

Similar to a single-family home, townhouses give you both living space and yard space often at a lower price. HOA fees also take care of yard work, exterior maintenance and other services that save you time, money and hassle.

Townhouses are also cheaper to maintain than their free-standing counterparts. The smaller size, continuous and compact qualities of townhomes make them easier to maintain. And, if there is a homeowner's association (HOA), they are responsible for exterior upkeep.

Yes! Townhomes tend to be cheaper than single-family homes, making them an ideal choice for first-time buyers. Even if you think of a townhouse as a starter home, you'll be building equity right away instead of wasting your hard-earned money on rent.

To calculate the annual amount of depreciation on a property, you'll divide the cost basis by the property's useful life. In our example, let's use our existing cost basis of $206,000 and divide by the GDS life span of 27.5 years. Your depreciation would be $7,490.91 per year, or 3.6% of the loan amount.

Do townhouses appreciate faster than condos? ›

Resale Value

Because it is more similar to single-family homes, the value of a townhouse fluctuates more with the broader housing market. This means that townhouses can appreciate much faster than condos in a strong market, but it can also make selling more painful during a housing downturn.

Your home, particularly a primary residence, is one asset some say you should exclude. Because you need a place to live, the likelihood that you'll ever liquidate that asset is low. That said, many financial experts argue that your equity in your home is an important part of your net worth calculation.

Simply divide the median house price by the median annual rent to generate a ratio. As a general rule of thumb, consumers should consider buying when the ratio is under 15 and rent when it is above 20. Markets with a high price/rent ratio usually do not offer as good an investment opportunity.

Generally speaking, condominium owners have an individual unit within a larger complex. Townhouse owners, alternatively, may share a wall with their neighbors, but they also own the structure of the home itself and the property's surrounding land.

There's no fixed standard for Strata Levies, which vary from scheme to scheme depending on how many communal facilities it has and other factors. In New South Wales, average Strata Fees can be anywhere from 0.3% to 1.2% of the property's value (0.8%–1.2% with facilities, 0.3%–0.7% without facilities).

A condo is a better investment than a townhouse long-term if located in a desirable location. However, it may be cheaper and easier for investors, in particular, to purchase a townhouse upfront and rent it out or flip it for profit.

Sense of Community

A defining feature of townhome living is the sense of community and camaraderie one experiences. Townhomes generally have shared walls, which means residents live close to one another. When you're that close, it's hard to go on with daily life without even learning your neighbor's name.

A significant part of the reason condos remain harder to buy and sell has to do with financing guidelines. (1) FHA financing, which is possible with only a 3.5% down payment (which can be a gift), lower credit score and higher debt-to-income ratio, now requires that the entire complex be FHA approved.

Condos tend to appreciate steadily in value and offer a solid return on investment — but they come with their share of drawbacks too.