MONTHLY DIGEST | The Benefits of Townhome Living
Saturday, May 11th, 2013
When looking for a new home, both novice and seasoned buyers can find something special in a townhome. Chicago has seen a burst of energy in the townhome market in recent months. With offerings from super-affordable to splendid luxury, townhomes are available in all parts of the west Chicago suburban area, and they come with big benefits, too. As homeowners became more environmentally conscious, they realized that townhomes are more compact and would, therefore, require less energy to maintain. Builders began expanding the housing options, and today these homes occupy a place between a condos and single-family residences. In addition some Suburban Chicago townhome communities also have the added value of exterior amenities such as security, swimming pools, gyms and clubhouses. Townhomes might be affordable, but that does not mean they lack luxury and design. Townhomes can offer courtyards, and some row townhomes even have an elevator for convenience. In many cases, homeowners are more than willing to give up a larger single-family home in favor of a luxurious townhome. There has been a trend toward smaller square footage with finer appointments. Chicago has seen a diverse range of buyers who choose townhomes. Some mature townhome buyers are downsizing from a large single-family home, while some buyers are first-time homeowners who want privacy without the shock of too much maintenance. Other buyers are parents who want to buy in a great neighborhood for the school district and even parents who buy townhomes for their children to live in while in college. People who are frequent travelers often find the ease of townhome living an excellent choice, as well. Most townhome buyers make their selection based on location, and it’s often a location they could not have bought into in a single family home. What really makes townhomes attractive is the location. Location is critical to the townhome buyer, and they will often choose an attached home due to a location close to the places they work, shop and play. When purchasing a townhome, homeowners are buying a lifestyle and should be prepared to stay in the property for a good five years. 
A buyer also needs to pay special attention to the monthly homeowner’s association fees and the covenants and restrictions for each community. A purchaser should also look to see if the community’s ownership is condominium or fee simple. With a fee simple home, the owner actually owns the land on which the home sits, which gives the owner more maintenance and responsibilities, but generally a lower monthly association fee. Some townhome communities, however, are structured like condominiums in which the land is jointly owned. In condo townhomes, the association takes care of maintenance, but monthly fees are usually higher. So many things to think about, but never fear Sothebys Luxury Home Team can help.
$269,900
