Townhouse living has a lot of advantages. You don't typically need to maintain the exterior of the home, and there are usually amenities in the community that you can enjoy and access, like a pool or a fitness center. However, townhouses are not always the most affordable real estate. If you've looked at a few and have found the cost prohibitive, here are some tips that should help you find a more affordable townhome.
Look on the outskirts of the suburbs.
Townhouses are usually found in the suburbs. Some are found in cities. That being said, the townhouses in the middle of suburban areas within walking distance of restaurants, gyms, and other amenities are usually the most expensive ones. If you're on a tighter budget, look for townhouse communities located on the edge of a suburb—maybe where the land is just starting to turn into a more rural zone. These communities will see less demand, so they usually price their units lower. While you will have to drive a little further to get where you need to go, you will still get to experience townhouse living for less, overall.
Consider townhouses further from the center of the community.
Within a townhouse community, there is usually some variation in the prices of units. Some units may sell for $700,000, for example, and others may sell for $450,000. So if you look at a unit within a certain community and decide that unit is over-priced, don't write off that community completely just yet. If you look at the townhouses further from the center of the community, you may find they are much more affordably priced. People generally won't pay as much to live in homes that are a half-mile from the pool and fitness center.
Think about buying a unit that needs remodeling.
Some townhouse communities will sell units at a discount if the interior needs some remodeling. You can buy the home for less and live with an outdated color scheme and appliances for a couple of years, then, when you have the money, invest a little more into remodeling the unit and making it your own. Even if you don't see units listed that need remodeling, contact local townhouse communities and ask if they have any units that fit this description. They might be willing to sell to you for less rather than putting money into remodeling the unit and then selling it for more money later on.
Not all townhouses come with a high price tag. Follow the tips above to find a more affordable one. Contact a real estate agency for more information regarding townhomes.