I currently own a home with a huge yard. I am a full time working single female and the maintanence is overwhelming. Should I sell my home and get a town home? I unfortunately don't have the option of keeping the home and buying a town home too. Would that be a bad investment?
2007-03-20 04:00:14 · 6 answers · asked by sandibum 5 in Business & Finance ➔ Renting & Real Estate
Without any more details, its hard to speculate. Just keep in mind that selling a home will cost you about 10% of your equity when you factor in sales commission and closing costs. That's 10K for every 100,000 in value. So, ask yourself. Would you rather lose that much equity or would you rather hire someone to help with the yard work?
2007-03-20 04:08:40 · answer #1 · answered by Esmeralda 4 · 0⤊ 0⤋
Getting a town house means that you will giving up space and some privacy being that townhouses are very close together. then there is a monthly fee you have to pay every month (not included in your mortgage) to have the outside area maintaned. I would recommend you keep the house and hire lawn service people to keep up the yard. at the end it'll be a better investment. remember that a house resells much quicker than a house. ;)
2007-03-20 11:12:58 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Hire a gardener? If you get a townhome, you don't get the land that goes with it, and you'll be paying HOA fees indefinitely in addition to the monthly mortgage, taxes, insurance, etc.
You could convert the yard so that it is requires less maintenance or cover it with concrete, polished gravel, or create that Zen styled garden.
Simply not having the time to maintain the yard is a terrible excuse to sell the home, especially in a market like this. You might not find anything comparable to a SFR.
2007-03-20 11:12:01 · answer #3 · answered by mktgurl 4 · 0⤊ 1⤋
Hiya
All depends on the location of the townhouse. If its near the city - it opens the avenue for rental income i.e. people are more likely to rent an apartment than a house - especially near a major city. So if it's investment income that u are looking for - then a townhouse wouldn't be an bad investment
2007-03-20 11:11:19 · answer #4 · answered by ringbearer 1 · 0⤊ 0⤋
They have alot of reasonable landscaping companys out there unless you really don't use the yard and don't want the expence. You should check out the housing market for one and do you really want your neighbors so close? There are a lot of up sides and down sides, make a list and see which comes out on top?
2007-03-20 11:09:07 · answer #5 · answered by Laura P 1 · 1⤊ 0⤋
it wouldnt be a horrible investment but having a house and maintaining it and fixing it up and keep it in good condition is definately a better investment then having a town house.. for sure.
2007-03-20 11:09:59 · answer #6 · answered by .:*BeAuTiFuL*:. 3 · 0⤊ 0⤋