Are townhouses a smart purchase in Raleigh? (Charlotte, Wake Forest: rental market, neighborhoods)

[blaaze8102]

I am moving to the Triangle in the future..how are the townhouses there? Are they appreciating in value? Are they built well overall? Just weighing all my options. I heard the Bedford complex in N. Raleigh is a nice community. How are the fees? I can see that some on the market have a decent amount of square footage. I would desire a larger unit over 1600 sq ft. Any thoughts?? Thanks!!

[North_Raleigh_Guy]

Originally Posted by blaaze8102

I am moving to the Triangle in the future..how are the townhouses there? Are they appreciating in value?!!

There are townhouses all over the place here. They can range anywhere from $90K in less desireable areas to $400K in some upscale communities. In my opinion they do not appreciate as well as single detached homes. I personally think you are better off with a detahced home unless you are specifically looking for low maintenance living.

Are they built well overall?!!

That will really depend on each specific community and the builder so that isn't an easy one to answer.

I heard the Bedford complex in N. Raleigh is a nice community. How are the fees? I can see that some on the market have a decent amount of square footage. I would desire a larger unit over 1600 sq ft. Any thoughts??

Bedford is a very nice community in North Raleigh. I don't know much about the towmhouses, but it is a great area to live with lots of ammenities. The same can be said for Falls River, and Wakefield (I'm sure there are others too); all of which are located in N. Raleigh and offer townhouses in addition to single detached family homes and are considered more upscale communties.

[redstephie]

We looked at some townhomes in Wakefield Plantation a couple of weeks ago. Think the builder was PCS? They are in the Kingston development. Prices were around $140,000 upwards, but they were offering incentives to buy. The larger of the two showhomes that we looked at was very roomy and seemed to have a good finish, but I'm not sure of the Sq. footage. On the whole we liked them very much but as we are thinking of buying as an investment, we think the rental market may be stronger in Charlotte. (Or does anyone think otherwise???)
We loved the Wake forest area but wondered if the commute may be a bit gruesome. Also visited the coast and Charlotte so please PM me if you want to know what else we found on our visit.

[Desdemona123]

Originally Posted by redstephie

We loved the Wake Forest area but wondered if the commute may be a bit gruesome.

Where are you commuting to?

[redstephie]

Originally Posted by Desdemona123

Where are you commuting to?

Sorry , I probably didn't make myself clear!
I meant from Wake forest to RTP, which I assume is where most people are heading!

[leighbhe]

Originally Posted by redstephie

Sorry , I probably didn't make myself clear!
I meant from Wake forest to RTP, which I assume is where most people are heading!

My husband works in rtp and we live in wake forest (in fact our neighbors and now good friends are from cornwall, england)....we live on the west side of wake forest, off of 98. I have shown clients the townhouses you were looking at, I thought they were well priced for the area and the amount of space. The only thing I didn't necessarily love about them is that they don't have a back yard area, as typically most townhouses do here. They are built back to back, so you get a front yard, not a back yard.

Anyhow, the commute, from that area, probably 35 minutes. My husband goes the back way, not using capital blvd or 540 to get there. The majority of people in our neighborhood work in the park, so the commute doesn't seem to bother them!

Anyhow, PM me if you need any more information. I do think townhouses can be a good purchase, but it all depends on the area!

Leigh

[RaleighRob]

Alot of a townhome's ability to re-sell for a good price will probably depend on location, too.
In some parts of North Raleigh, townhouses are a dime a dozen...they're all over. In some neighborhoods in and near downtown, you'll find people don't feel there are enough of them...so they are in very high demand.