Trying to decide between a townhouse and a condo for your next home? There are definite advantages and disadvantages to both. Determining which one is right for you comes down to your own personal preferences about how you wish to live. You’ll have no problem finding either condos or luxury townhomes in Greensboro, NC, so consider these different factors to help you choose.
When it comes to maintenance, to what extent maintenance is included tends to differ between condos and townhomes, but it will also differ between communities. Typically condos are individual apartments within an apartment building, so the upkeep of the building itself, land, and common areas is usually handled by the condo association. Repairs to the inside of the individual condo are typically included. In a townhome some maintenance to the lawn and home itself may be included, but not always. This depends on the homeowners association for the townhome community.
The cost of a condo vs. a townhome tends to differ based on the price of real estate in the area. However, townhomes typically cost more to purchase because they have some land included.
Condos will typically have a condo association and the townhome community will have homeowner’s association. These associations are typically made up of residents and govern the community, building, and grounds. The association establishes guidelines and votes to make changes in regulations. As a resident of the community, you will be required to pay dues to the association on a yearly, quarterly, or monthly basis.
Owners of both townhomes and condos are required to pay property tax because the home is actually owned rather than rented.
A townhome will offer slightly more privacy than a condo, in that the home shares a wall with either one or two other homes. A condo may have neighbors that share walls on all sides as well as above and below.
A townhome owner will actually own the home itself and the land it sits on, whereas a condo owner does not own any individual land. A condo owner does have access to the common areas of land owned and maintained by the condo association.
A condo tends to offer a higher level of security. In order to access a condo, it is usually necessary to enter a condominium building from one or a few available entrances. These entrances may require a key, electronic card, or have a doorman or security guard. In a townhome security is up to you as the entrance to your home can be publicly accessed the same as any single-family home.
Still Trying to Decide Between Condos or Luxury Townhomes in Greensboro, NC? Take a Tour
Touring these two different types of homes in person may be the best way to decide which one you’d be happier living in. Smith Marketing and Allen Tate Realtors® can show you condos and luxury townhomes in Greensboro, NC so that you can get a feel for the difference in size and style. Call (336) 215-7880 to speak with an agent today and take tours of condos and townhomes in the area’s most popular communities.
Are you in the market for a new home? With so many homes for sale in Greensboro, it can be difficult to narrow down your search to find the right home for you. You need something that’s the right size, in the right area, and with the right amount of land. Are you taking all of the most important things into consideration? Here’s a list of 10 things that can help you choose a home you’ll be happy with.
- Think about your daily travels. When it comes to choosing an ideal location, it’s important to think about all of the places you drive on a daily and weekly basis. One home may be close to work but far from other activities like school, church, and ball fields. Determine where you go most often and let that be the pivotal point of location.
- Determine what kind of neighborhood you want. Do you want to live in a development with other houses and a homeowner’s association? Or would you prefer to live out in the country at the end of a dead-end road with little traffic and few neighbors? Make sure you and the rest of your family are in agreement.
- Decide how much land you need. Lot size plays a large part in the type of homes you’ll find in your search. If you prefer a lot of land, you most likely will not find it in a development with hundreds of other homes. If you don’t need much land you may be able to find a larger, newer homes that suit your needs.
- The number of bedrooms plays a large part in the price range. When you search for homes, you’ll notice that going from 3 to 4 bedrooms jumps the base price of homes up to the next level. It can be nearly as influential as the total square footage of the home.
- Don’t settle when it comes to the kitchen. If you’re not happy with the size of the kitchen, don’t compromise. In some cases, a kitchen can be expanded to be larger, but often it can’t. A remodel can help, but it can’t create space where there isn’t any.
- Storage space is a must. “There’s too much storage space in this house,” said no one ever. You can never have too many closets and storage areas in your home. Newer homes tend to have more and bigger closets, but older homes tend to have full-size walk-in attics.
- Look for natural light. If you walk in a home that looks dark and lacks natural light, don’t waste your time. It’s difficult to create natural light where there is none. You can artificially light up rooms, but without natural light, it can feel like living in a cave.
- A Floor plan is hard to adapt. If you’re looking for an open floor plan, don’t buy a home that is closed off thinking you can open it up. Often those walls are load-bearing and cannot be removed. Inner walls also contain hidden, yet crucial, things like electrical wiring and plumbing that is difficult or sometimes impossible to reroute.
- Trust your nose. Have you ever walked into a home and knew for sure you could never live there because of the smell? If a home smells musty there’s a good chance mold or mildew is growing somewhere beneath the surface, which is an expensive fix. If the home smells like cigarette smoke and you’re a non-smoker, that’s a deal-breaker. Some smells are almost impossible to remove.
- Think about the future. If you’re planning to be in this home for the long term, take that into consideration. Plan for enough space for your growing family and think about aging in place and what that will look like.
Searching for Homes for Sale in Greensboro?
Smith Marketing and Allen Tate Realtors® can help you find homes for sale in Greensboro that will fulfill your most important criteria. Talk to your agent about these 10 things and make sure everyone is on the same page for your house hunting goals. Call (336) 215-7880 today to speak with an agent.
Have you ever considered maintenance-free living? It’s becoming more and more in-demand for current homebuyers. The idea of luxury homes in Greensboro is being redefined by maintenance-free living. This is no longer just a benefit for renters. Many more buyers are purchasing townhomes, patio homes, or condos where the maintenance is included. Even some single-family homes are in maintenance-free communities now. If you’re thinking the maintenance-free life might be for you, consider these 5 benefits.
- Save time. Think about the amount of time you spend mowing the lawn, weeding, trimming hedges, or power-washing your house. You could be using that time for so many other things, such as sipping tea and rocking on the porch or patio, enjoying your favorite hobbies, or visiting with friends.
- Save money. Never buy another lawnmower, yard tools, or gas to fuel them. You also won’t have to find a place to store them. No need to spend money on repairs for yard equipment either. And if you work the kind of job where time is money, you could use the time you would have spent on home maintenance to get more work done and make more money. Household maintenance and appliances are often included as well, such as a new roof or HVAC system.
- Less stress. Don’t worry about the condition of your home or when you’ll get routine maintenance done. Leave it to your homeowner’s association and cross one thing off your long to-do list. You won’t have to worry about paying to repair things that go wrong with your home either, such as plumbing issues.
- Freedom to vacation. Wish you could travel more? Do you worry about leaving your home unattended while you’re away? Maintenance-free living gives you the freedom to travel without worrying about who’s going to mow the lawn while you’re gone.
- Gets better as you age. Maintenance-free living allows you to age in place. When household upkeep becomes too much, many people have to move or pay someone to do the yard work and housework. Finding a maintenance-free home now prepares you for the future.
Now is the Time to go Maintenance-Free
Such real estate is in high demand and going fast. If you’ve been wondering whether or not maintenance-free living is right for you, the best way to find out is to go see some homes where maintenance is included. See what’s available now, what the homes and communities are like. You’ll find luxury homes in Greensboro that range from condos to single-family homes where upkeep and yard maintenance are included.
Find Luxury Homes in Greensboro with Smith Marketing and Allen Tate Realtors®
There are plenty of maintenance-free communities with homes available now in the Greensboro area. Smith Marketing and Allen Tate Realtors® can help you find a home that suits your needs with maintenance included. Enjoy life more when you don’t have to spend unnecessary time on home and lawn upkeep. Call (336) 215-7880 to speak with an agent about luxury homes in Greensboro that offer maintenance-free living.
When is the best time to buy a house? Depending on who you ask, you could get a variety of different answers. One person might say, “In the spring.” Another might say, “When the housing market is good.” Others might say, “When mortgage rates are low.”
Mortgage rates certainly do affect on buying trends. Potential buyers who have been thinking about house hunting may decide to take the plunge and apply for pre-approval when rates are low. While pre-approval does not necessarily lock in the current rate, it’s still a good idea to apply and find out what amount you will qualify for to establish a price range before previewing homes.
Current Buying Trends Lean Toward Higher End Homes
While mortgage rates play an important part in current buying trends, other factors are also at play. One such factor is the housing market and what’s in demand. Low mortgage rates often encourage buyers who are looking for higher-priced homes, such as luxury homes in Grandover Greensboro, to choose this time to upgrade. This also means that lower-priced homes will soon be available as current homeowners prepare to sell their homes and purchase larger homes.
First Time Home Buyers Benefit from Lower Mortgage Rates
Lower rates also put first time home buyers at an advantage. One thing first-time buyers often lack is down payment funds. Current homeowners who are upgrading have typically built-up equity in their current home that eliminates the need for a down payment on their new home. First-time buyers can often get a lower rate and avoid mortgage insurance if they put down 20%. But when rates are already low, buyers with little or no money to put down can still get a low rate and a more affordable monthly payment.
Federal Rate Cuts are Responsible for Historically Low Mortgage Rates
Why does The Fed (Federal Open Market Committee) lower interest rates on loans? The decision to lower rates is usually done to boost the economy. It encourages people to go out and purchase real estate among other things. The Fed has made several rate cuts this year in an attempt to achieve the ideal amount of economic growth. Conversely, if growth goes “too far” in The Fed’s opinion, rates will go up to balance out the economy.
This gives buyers a sense of urgency, to “strike while the iron’s hot” and finance a new home before rates go up again. Current homeowners may decide to refinance their homes to take advantage of the low rates to reduce their monthly payment or cash out some of the equity that has built up in their home.
Now is the Time to Find the New Home you’ve Been Dreaming of
With low mortgage rates available now, it’s time to stop “thinking about it” and start house hunting. Smith Marketing and Allen Tate Realtors® can help you find the home you’ve been looking for. New and existing homes are available now in some of the most highly desired areas of The Triad, such as Grandover Greensboro and other up and coming neighborhoods. Homes of all sizes and price ranges are hitting the market now, so don’t wait. Call Smith Marketing and Allen Tate Realtors® today at (336) 485-1881.
Are you thinking of buying a new home, but you’re unsure about looking during the fall? You may have heard that spring and summer are the best times of the year to house hunt, but there are certain advantages to buying a home in the fall, especially if your focus is on luxury homes in Greensboro.
Consider these 10 Reasons
Sellers are Motivated
The housing market slows down in the fall, which can make it more difficult to sell a home. Sellers may go weeks or even months without an offer. This makes them extremely motivated to accept any offer they get, even if it’s a little lower than their asking price. As a buyer, this puts you at a distinct advantage.
Real Estate Agents are More Available
When agents aren’t so busy juggling multiple clients, you can get more one-on-one attention. Your agent can spend more time finding you the right home and making sure you get it.
Banks Offer Better Mortgage Rates
When the housing market slows, lenders don’t book as many loans. So they offer lower rates to entice buyers to finance or refinance.
More Time to Think Over your Purchase
Buying a house is a huge financial decision, and you want to be able to take the time to think it over. However, in a busy, competitive housing market, you have to put offers in quickly with not much time to consider. In the fall you won’t feel as much pressure to make a fast decision.
Flexibility of Moving Dates
In a slower housing market, you’ll have more flexibility when it comes to closing dates. Also, moving companies are less busy so they’re more likely to be available on the day you want to move.
Neighborhoods are Busier
If you’re checking out the neighborhood during the summer, it might seem quieter than usual due to vacations and hot weather keeping people indoors. In the fall you can get a better feel for the activity and speed of the neighborhood.
The Weather Gets Interesting
Any home can look great in sunny weather, but in the fall you can see it in the rain and with the leaves off the trees and perhaps even in the snow. It may seem different depending on the weather.
No Flowers to Hide Imperfections
With no flowers blooming to enhance the appearance of a home, you’ll be more likely to notice things like peeling paint, faded siding, or other blemishes.
Take Advantage of Holiday Bargains for Home Goods
After moving into a new home there are always things you need, such as curtains, rugs, and other home accessories. With all the holiday sales going on, you could save some money.
Have an Easier Time Booking a Handyman and other Services.
There are often things that need to be repaired or done to a new home. You’ll have an easier time booking painters and home repair services in the fall.
Find Luxury Homes in Greensboro for Less During the Fall
If you’re in the market for a high-end luxury home, fall is a great time to find one at a good price. Higher priced homes tend to stay on the market longer anyway, and motivated sellers may be willing to cut you a deal just to get the home sold. Smith Marketing and Allen Tate RealtorsⓇ can help you find luxury homes in Greensboro that are priced to sell. Call (336) 215-7880 today to speak with an agent about available homes.