Tips About Townhouse vs Detached Residence Living
Townhouses aren’t for everyone, but you’ll find that there are a whole lot of people very satisfied with their townhouse lifestyle in the Surrey real estate market. I wanted to highlight a few things here as tips about a townhouse lifestyle and whether it’s for you instead of a detached single family home.
It’s not maintenance–free, but it’s close! The strata corporation pays for and supervises the exterior maintenance and repairs to all units and common areas. You won’t be mowing the lawn on a beautiful Saturday morning.
You save money on some things. The strata normally covers water, sewer, common area and exterior upkeep, and trash services. The fees you pay are normally less than you’d pay individually for these things. You only pay for interior walls and personal belongings insurance, as the strata corporation pays to insure the structures.
You do trade off some control and decision–making ability. There will be rules to keep the exterior look uniform throughout the project, and there will be limits to what you can do to the inside of your unit as well.
Neighbours are closer. With units having common walls, there is more opportunity to get to know your neighbours. The common areas will provide enjoyment for all, but some sharing is necessary.
You have a voice with your vote. As an owner in the strata corporation, you can participate in decisions that influence your property and how you enjoy your ownership.
What’s Different About Townhouses?
Ownership – Basically, with a townhouse, you own and are responsible for the “airspace” and the interior walls and space. The strata corporation owns and maintains the exterior. You also may own a stated portion of “common areas” like clubhouses, gardens and pools.
Infrastructure – Things like utilities are still paid for individually, but generally water, sewer, trash and common area maintenance are paid for by the strata corporation through maintenance fees.
Insurance – Insurance is less expensive, as the strata corporation insures the exterior and common areas, while individual townhouse owners insure the interior and their possessions.
Property Decisions – Decisions about the exterior, common areas, and even some about what you can do inside your unit are made by the strata corporation and rules can be strict.
There are a great many people who love the townhouse lifestyle, especially if doing yard work and exterior maintenance isn’t their thing.
Let me help you with more information about townhouse ownership in the Surrey real estate market.