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If you own a detached home you are still paying at least that in taxes. So that is a fixed variable between the two options. The differential is therefore only the $1,000 HOA per month. For not having to pay for, or deal with, yard maintenance, snow removal, and repairs etc, the $1,000 per month is not that much of a hit. And you may be getting perks with it, like pool or gym access.
2. People who are younger(mid 30-40s) who are moving up from the city, but still pulling 12 hour days at the office and don't want to deal with managing all of the stuff that comes with a house. They're use to apartment living, the like having people around them, young kids with both parents working making 500-1mm/year. They like that the town house is relatively new, high end, and probably has great amenities.
Townhouses can sometimes be cheaper than regular standalone single family homes so it can be a more cost efficient way to get into a school district.
Certain school districts like Rye Brook have more townhomes than other places. Not all townhouses are connected, some are just in a shared community with HOA fees (this is the case with many of the townhouses in Rye Brook).
In this example, it seems the townhouse is more expensive than a house.
$800k for a 2300 sq. ft 3BR. House costs less.
And $12k of HOA can buy a lot of lawn mowing and plowing!
In this example, it seems the townhouse is more expensive than a house.
$800k for a 2300 sq. ft 3BR. House costs less.
And $12k of HOA can buy a lot of lawn mowing and plowing!
$800k for a newish townhouse vs >$800k for a 40+ year old single family. I'm not a fan of townhouses personally but I wouldn't say that a house costs less in much of Westchester.
I hate my single family in Chappaqua and I paid $850k for it. It's old, small, and has a weird layout, but I didn't want to pay over a million for something I didn't hate (because then I would hate the payment instead of the house).
In this example, it seems the townhouse is more expensive than a house.
$800k for a 2300 sq. ft 3BR. House costs less. And $12k of HOA can buy a lot of lawn mowing and plowing!
Ditto. <$400 for landscaping gear and you can do it yourself twice a month for the Spring-Summer and either sign up for a local gym or put a gym in your basement vs $12,000 a year on TOP of property taxes. Insane. Lol. To each their own though.
That's the whole thing. At this point, I have no plans to buy a SFH. I don't want the responsibility of maintaining anything outside. It's not about the money, it's about the lifestyle I want. Other people think I'm crazy, but they have different priorities.
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