When it comes to buying a home to live in Orange County, CA, the most common types are a single-family detached residence, condos, and townhomes. So, is a townhome somewhere in between a condo and single family residence? Technically, you could say so.
In the U.S.’s historical past before the invention of the car, a townhome (townhouse) was defined as a house on a small piece of land in a city, however due to its multiple floors (in some cases more than six), featured a large living area, usually with servants’ quarters. Nowadays, a townhome, is a residential unit that resembles a detached home but is commonly attached to other townhomes in a mul
tiple-unit complex with HOA dues.
Why choose to live in a townhome? All types of residences have a benefit and townhomes are no different. Let’s review the advantages and disadvantages.
Advantages: More Affordable than a Single Family Home:
Since it has less land and is commonly situated in more urban areas like Irvine, Lake Forest, Laguna Hills, Mission Viejo, and Costa Mesa, townhomes can be much more affordable option than a detached home.
Many have amenities like pool, gym, small park, tennis court, and are great for first time homebuyers.
Disadvantage: Less Privacy due to Less Land
Not much of chance of shooting hoops in your yard or having your dog run around like there’s no tomorrow. If you do get a yard, they are usually very small compared to detached homes.
Advantage & Disadvantage: Homeowner’s Association & Dues
A homeowner who owns a townhome has to agree to follow the HOA’s covenants, conditions, and restrictions (CC&Rs;). The owner can’t do much to change CC&Rs because the HOA governing board and its homeowners collectively render decisions.
Rules are made for common areas which may or may not include the exterior of your home, parking areas, gym facilities, and even your patio. HOA dues made by homeowners are used to pay for expenses, like maintenance and repairs. So, for some a homeowner’s association can be a good thing and a bad thing for others. For others, it can ensure the value of their home is maintained.
Is a townhome right for you? Will your household grow larger and require more space in the near future, will you need your own yard? These are all questions you must ask yourself before beginning the search for a townhome in Orange County?