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I'm wondering if a townhouse is a better fit for me than a single family home. I have no kids, pets, and am not handy with any tool except a hammer. My question is regarding resale in the Charlotte area- is it reasonable for townhomes? I realize that in these times its hard to say- but in general what's the thought?
Thanks.
Long term single family beats TH hands down, but it really depends on where you live. If you can afford to buy a TH uptown or in an inner ring suburb its probably a decent buy, otherwise, if you are subjected to suburban living I'd rent. Considering the first +/- 5 years are primarily IO regardless of the amortization and you'll likely have to pay 6% in commissions to sell its hard to justify. We just moved back to CLT from ATL and are renting a TH in Elizabeth bc like you I hate that crap too...but I would never consider buying an attached product again (especially a condo) unless you can get in before a big real estate bubble or you happen to be in a supply constrained environment.
As mentioned above if you plan on living there for a while prob. not a bad thing. However anything under 5 years I would think long and hard. Townhomes are tougher to sell in general.
I have noticed some really upscale townhomes here in S. CLT - and the buzz is that retirees are buying them. So I would think if you buy an expensive TH in the right location, it may be easier to sell in years to come - b/c so many people are moving here to retire. I don't have any stats to back this up - just what I have been noticing.
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