Is location that important to its potential for appreciation? Or are other factors more important?
2007-01-15 15:37:25 · 6 answers · asked by Caribou2 1 in Business & Finance ➔ Renting & Real Estate
Unlike a single family home. Town houses usually do not appreciate well, if at all. If you are looking for an investment property, townhouses are not the best choice.
2007-01-15 16:43:18 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Location is definitely important. (Is it a neighborhood that's transitioning up, or is it one that is in decline?) As someone else mentioned, you also want to find out if the other units in the complex are owner-occupied or rentals. The general rule of thumb is that if the complex is more than 30 per cent rentals, the value of the property is less. Some others have mentioned that the neighbors are important as well. Even if your townhouse is in a nice neighborhood generally, if the immediate neighbors have a huge barking dog and blare loud music out their windows every day, that will also effect the value of the home. You also want to look at the Home Owners Association (HOA) disclosure documents carefully. These will give you a sense of how well the HOA is run and how well they take care of the common areas of the property. If the HOA is properly funded to say, as an example, replace the roof of the building should it be damaged by the next severe storm, this can affect the value of your property as well.
2007-01-15 23:52:16 · answer #2 · answered by puffinpower 2 · 0⤊ 0⤋
find an old lady or middle aged single woman in the block where you plan to buy and ask her about the neighbors, they sit by their windows and watch the neighbors because they have nothing else to do, they can give you all the gossip. and have a home inspector come out and look around BEFORE you buy. Oh check on the yearly fees too, sometimes they can be sky high
2007-01-15 23:42:31 · answer #3 · answered by trouser trout 2 · 0⤊ 0⤋
Location, are there any assiocation fees? How are they built? What is on the outside? Brick, vinyl, masonite? Ask a real estate agent about the recent sales in the area. They can help you by looking at the whole area.
2007-01-15 23:44:23 · answer #4 · answered by jeffery g 1 · 0⤊ 0⤋
neighbors.. you can take care of your place but if the people on both sides are renters and are constantly moving in and out it may stagnate the appeal of you home to others.. also the condition of the neighbors....
2007-01-15 23:42:37 · answer #5 · answered by benjie b 2 · 0⤊ 0⤋
walls & roof.maybe a toilet.
2007-01-15 23:40:34 · answer #6 · answered by Anonymous · 0⤊ 0⤋