You can trace this word back to early English royalty, where the term referred to a house kept “in town” when the main house was in the country. Today, in the United States, it is a single-family home with at least two floors. The house shares a wall with another semi-detached house. Although they are like a duplex, there is a difference. Townhouses are owned by an individual and duplexes are not. You can find townhouses for sale in areas where property prices are high and land is scarce. Many times people look at both condos and townhomes for sale because they think they are the same thing. However, there is a difference. Yes, some townhomes are sold under the condo listing, but the difference is the form of ownership. If you buy a condo or townhome that is listed as a condo, you will only own the interior of the building. You can also own the outside property if you buy it as a townhouse. It depends on the rules of the community of owners.
Advantage
• Living in a row house that is flanked on both sides by other houses can lower your heating bill, since only two of the row houses have direct exposure to the outdoors
• If you are part of a community of owners, you have little responsibility for maintaining the exterior, which can mean lower maintenance costs.
• Townhouses for sale are less expensive to buy than a detached house, which is good when money is tight.
• Being two floors there is less noise downstairs or upstairs and more privacy
Disadvantages
• They are of lesser value and if you sell your townhome, you will make less profit.
• If you have to sell your townhome in a depressed market, you could lose money
• You may be disturbed by your neighbor’s noise
• Have little space for the garden and a small backyard
• You have less to say about the exterior appearance of your townhome
• Since there are two sides, three if you live at the end of the row may have windows so there is less light in your house.
• In certain real estate markets, buying townhouses for sale can be financially risky
• You may have to pay homeowners association fees, and they can be high
If there seem to be more downsides than upsides to buying townhomes for sale, there are plenty of people who enjoy living in a townhouse and will tolerate the downsides. They like the proximity of their neighbors. They are happy that they do not have to be responsible for the maintenance of the exterior property, even if they have to pay community fees.