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Mortgage Dictionary -> Townhouse

You're sick of being in an apartment and having neighbors above and below you. But you can't quite afford to purchase a home or even move into a condo. So what can you do? Well, you can continue to put up with annoying neighbors, or you can move into a townhouse. The term townhouse is often confused with a regular single family home, and in this article, you'll learn the difference between the two, as well as why to choose a townhouse.

What is a Townhouse?

A townhouse is a home that features an upstairs and downstairs. Where it differs from a traditional single family home is that it is attached to and shares walls with other homes. In other words, it's like living in an apartment complex, but without upstairs and downstairs neighbors, just neighbors who live right to your side. As such, a townhouse requires little to no maintenance by those who live in them, as the owner of the townhouse usually takes care of things. It is also significantly cheaper to live in townhouse than a traditional home is.

The Benefits of Living in a Townhouse

Apartment Rent But Home Feel. Many townhouses cost the same as similar apartments, but with the benefit of actually feeling like a home. So if you're tired of having such a small living area or simply don't like hearing stomping feet above you, a townhouse can be a great choice.

No Maintenance. Let's face it: most of us hate having to mow the lawn. Most townhouse landlords take care of this for their residents, resulting in very little maintenance for the home on the part of the resident.

Amenities. Having a nice gym or pool nearby that is free to you sure would be nice, wouldn't it? Many townhouses feature these amenities and much more and you don't even have to pay anything more to use these services than what you're paying in rent.