thoughts on townhomes - revisted (Atlanta, Sandy Springs: for sale, condo, townhouse)

[alek-ny]

I realize there are several threads on townhomes already, but many of them are fairly old and my wife an I are starting to wonder about them.

We'd previously been using them just as a basis for comparing the costs of neighborhoods -it's easier to compare new construction townhomes in different neighborhoods than houses to get an idea of the general cost of the area. We're only looking in town to be close to both downtown Atlanta (grady hospital) and emory hospital.

But we've been looking at the plans and wondering if they might be a good idea for us because:

1) We don't have to worry about landscaping and exterior stuff. Having lived in a high rise condo for most of our lives, moving to a single family home may bring too much unexpected maintenance that we aren't used to.

2) Cost per square foot of space is still pretty good. We can get something three times our current condo size for less than we are paying in NY.

3) Frequently newer with well designed floorplans -- many of the homes in the in town neighborhoods that are for sale are pretty old, with aging floorplans.

4) Possibly safer -- less windows and ways in should make it easier to secure against break-ins (important cause my wife will be working from home).

But:

1) Home may not appreciate as much in value. Personally I don't care about making a killing, just matching inflation.

2) Less privacy. Many come with "private" decks and patios, but the only way these can be private is by blocking the view of your neighbors who are right next to you.

3) Less freedom (aka Home Owners Association).

4) Home owners association fee (although you do save on maintenance costs)

Coming from a tiny, but expensive Manhattan condo, a townhome would be quite the upgrade for us, but it's still not a single family detached home. What do people here think about townhomes in Atlanta?

They seem relatively popular in Atlanta -- many new townhomes are being built, although not as popular as single family homes.

[teacher30004]

Originally Posted by alek-ny

I realize there are several threads on townhomes already, but many of them are fairly old and my wife an I are starting to wonder about them.

We'd previously been using them just as a basis for comparing the costs of neighborhoods -it's easier to compare new construction townhomes in different neighborhoods than houses to get an idea of the general cost of the area. We're only looking in town to be close to both downtown Atlanta (grady hospital) and emory hospital.

But we've been looking at the plans and wondering if they might be a good idea for us because:

1) We don't have to worry about landscaping and exterior stuff. Having lived in a high rise condo for most of our lives, moving to a single family home may bring too much unexpected maintenance that we aren't used to.

2) Cost per square foot of space is still pretty good. We can get something three times our current condo size for less than we are paying in NY.

3) Frequently newer with well designed floorplans -- many of the homes in the in town neighborhoods that are for sale are pretty old, with aging floorplans.

4) Possibly safer -- less windows and ways in should make it easier to secure against break-ins (important cause my wife will be working from home).

But:

1) Home may not appreciate as much in value. Personally I don't care about making a killing, just matching inflation.

2) Less privacy. Many come with "private" decks and patios, but the only way these can be private is by blocking the view of your neighbors who are right next to you.

3) Less freedom (aka Home Owners Association).

4) Home owners association fee (although you do save on maintenance costs)

Coming from a tiny, but expensive Manhattan condo, a townhome would be quite the upgrade for us, but it's still not a single family detached home. What do people here think about townhomes in Atlanta?

They seem relatively popular in Atlanta -- many new townhomes are being built, although not as popular as single family homes.

Where are you looking to buy? I just picked up one up myself. Like you, I'm from NY.

[CMMom]

We had a 3-story townhome in Sandy Springs that we loved, but needed to leave when we had kids. It had a beautiful spiral staircase that was not practical for young kids. Anyway, we put it on the market in the summer of '03 and it did not sell until X-mas of '05!! It appears that our main impediment was the fact that most potential buyers were downsizing and looking for master on the main. Of course we could not do anything about that. We wound up taking a check to closing, but were just thrilled to be done with it by that time.

I just think that you must be careful if you ever intend to resell. We would have stayed in a hearbeat if it were more practical for us with young kids. If reselling will not be an issue, then don't worry about it!

[dens]

I just bought a townhome...not in town as you are looking for though....and I am not worried too much about resale as I plan to always be in a townhome...just love the secuirty of a nice gated community...it is a John Wieland in Alpharetta and I love the neighborhood. Luckily I have the type of neighbours I like...very quiet but I have seen a few for sale in here for several months...they are simply very hard to unload.

[teacher30004]

Originally Posted by CMMom

We had a 3-story townhome in Sandy Springs that we loved, but needed to leave when we had kids. It had a beautiful spiral staircase that was not practical for young kids. Anyway, we put it on the market in the summer of '03 and it did not sell until X-mas of '05!! It appears that our main impediment was the fact that most potential buyers were downsizing and looking for master on the main. Of course we could not do anything about that. We wound up taking a check to closing, but were just thrilled to be done with it by that time.

I just think that you must be careful if you ever intend to resell. We would have stayed in a hearbeat if it were more practical for us with young kids. If reselling will not be an issue, then don't worry about it!

i think if you purchase a townhouse in the right town, you shouldn't have any issues selling the townhouse in the future. Especially if townhomes are being built all over the place.

[alek-ny]

Originally Posted by teacher30004

Where are you looking to buy? I just picked up one up myself. Like you, I'm from NY.

Somewhere in town or close: Virginia Highlands, Inman Park, Candler Park, Decatur, maybe Edgewood or Kirkwood.

If reselling will not be an issue, then don't worry about it!

There's about a 50% chance we will be leaving Atlanta in 5 years. If we don't leave in 5 years from now, we'll probably stay at least another 5. So we may be concerned with reselling.

How are new townhomes from 2-5 years ago doing for resale now? Are they selling for more than they did originally? Or is it still a difficult sell?

[blackrabbit]

We are thinking of selling our very nice 4 bed house in Brookhaven and getting a townhome in the same area or Buckhead. Main reason being I am so sick of yard work and having to deal with retarded/rip off contractors etc. The money and time we have spent on maintenance etc has been insane. It sounded like a good idea to have a big yard etc but never again in GA. The weather makes the grass grow all the time and its a constant fight with blocked gutters, bugs, etc. When we bought our home I thought the townhome comunity fees would be too much but now in retrospect they are a bargain as we will have spare time again to do what we want rather than be comitted to consistant house/yard work.

We figure with two young children we will have our weekends back once we move into a townhome and be able to do things together rather than me always having to do house chores.. Plus we can walk to the park and enjoy it without having the maintenance. Privacey is not an issue anymore than it is in a home. Just pick the right townhome.

As far as resale goes if you buy into a good, well located small development you should come out as well or better than a house. More people are looking to downsize and move into town so just make sure you buy in an area than will remain desirable. The untilities are also much cheaper.

[alek-ny]

Thank you for the reply blackrabbit.

I realized I have two more directly related questions:

1) Is soundproofing good quality in the new atlanta townhomes? Can I watch a loud movie at night and not worry about bothering my neighbors? (I realize this may vary depending on builder, but probably not entirely).

2) Is there much different in resale value of large vs small townhomes? I've seen townhomes as small as 1,400 square feet (that fit two cars in one after the other and are 2 stories) and some as large as 2,800 square feet. A couple people have suggested that those looking to buy a used townhome are downsizing and so may not want a larger one. Do others feel this is true too?

Thanks again everyone for the great responses so far. You've all been very helpful to us!

[Go Blue 99]

Alek, we recently went thru some of the same decisions you are looking at right now. For a while, I was set on a single-family home due to resale value. However, we eventually decided we wanted to live inside the perimeter, and my wife only wanted new construction. So a SFH was way out of our budget. We ended up buying a new townhome in Brookhaven and are moving in next month.

In terms of resale value- luxury townhomes are a relatively new concept in metro Atlanta, so there isn't much resale data out there. But I would make sure you're in a great location. Easy access to major job centers, highways, and retail/restaurants are always going to be desired.

Also, based on what I've seen in Boston and Chicago, townhomes do well in neighborhoods where there is a large spread between townhome and SFH prices. If you buy a townhome in a neighborhood where SFH have similar prices, your resale potential is going to be limited to people who specifically want a townhome. This is why I think in-town townhomes are a better bet. Your resale market will include people who want to live in that area, but can't afford a SFH. This will likely include a lot of young professional couples who want to take advantage of ITP life before having kids.

In terms of your size question- I would say it's the opposite of what others have suggested. Housing in metro Atlanta is relatively cheap, so downsizing families don't need to be restricted to 1400 sq foot townhomes. They are used to their McMansions, so they don't want to decrease their square footage by TOO much. This is why new developments seem to be quite large- 3500 sq ft+ townhomes are pretty common now.

[K'ledgeBldr]

I think you've have hit on all the high points- those that would make you buy.
So why the reluctants (or so it seems)? Do you need somebody to give you a nudge?
I think your ready to sign on the dotted line, but don't make me nudge you- that's on you alone.
Good Luck-