Townhouse vs House: How to Decide Which Type of Property to Invest In
Updated: May 1, 2020
There are over 13,700 people living in Soller. However, not everyone chooses to live in a single-family home. If you're planning to invest in property nearby, you might choose a townhouse instead. What are the key differences between a townhouse vs house? Differentiating the two could help you decide on which to invest in. Keep reading to learn everything you need to know about choosing between a single-family home vs townhome!
First, it's important to know that townhouses are attached. They usually share at least one wall with another property. A single-family home, on the other hand, sits on its own piece of land. Townhouses usually have less front and backyard space. Instead, townhouses are clustered together, offering less interior and exterior property. If you're trying to choose between a townhouse vs house, consider how much space you need. Sharing walls with other properties could mean you're exposed to more noise, too. However, sharing walls with neighbours usually reduces your costs. When choosing between townhomes vs homes, think about the responsibilities. Townhomes are usually under the watch of a homeowners association. The HOA will deal with common area maintenance, trash removal, and other shared interests. For example, you likely won't have to worry about the water or sewer system. With that in mind, most people choose to buy a townhome to reduce costs.
Many people in Mallorca live in the island's capital, Palma de Mallorca. In fact, almost 50% of the island's population lives there. If you're looking for a property investment in the area, consider choosing a single-family home. When choosing between a townhouse vs house, there are many benefits to choosing a single-family home. For example, you make all the decisions regarding upgrades, remodels, and repairs. However, that also means you're financially responsible for these changes. Meanwhile, you have complete control over any exterior or interior design changes. If you have a townhome, an HOA might limit the additions you can make. As a single-family homeowner, however, you can make your home unique. If you plan on renting out your space, you'll also have the freedom to screen and select tenants. You can even allow pets. Many townhouse associations, on the other hand, have restrictions. Remember, single-family homes sit on their own property. In other words, you won't have to worry about noise coming from the other side of your wall. However, you might still have to deal with noisy neighbours. However, choosing a single-family home as an investment rental property means you're responsible for everything. You'll have to deal with the stress and time of maintaining the unit on your own. You'll also have to deal with some interests, such as the sewer system, on your own.
Invest in the Best: Choose Between a Townhouse vs House
If you're trying to choose between a townhouse vs house, review the pros and cons. In the end, the choice is yours. Think about your comfort and long-term goals as you review the list, too! Searching for a property in the area? Browse our handpicked selection of properties for sale today!