Homeowners of freehold townhomes have all the power of private home ownership and many of the conveniences and benefits of condominium townhome living: security, privacy, and lower energy bills. Typically freehold townhomes are built on a small plot of land in a neighborhood development, with multiple floors, designated parking spaces or garages, and a shared wall with another home (or homes). Here are six advantages of living in a freehold townhouse to consider before purchasing your next home.
1.Freehold Townhome Residents are Landowners
Owners of a freehold townhome own the building and the lot. They also have complete control over the use, decor, and maintenance of the building and property, as long as they stay within the bounds of local building and zoning ordinances. Lawn care, however, is minimal compared to a single family home, because freehold townhomes typically sit on a small plot of land.
2. Freehold Townhome Owners Control the Exterior and Interior Features of Their Home
Freehold townhome owners are free to make changes and additions to the outside and inside of the home and yard without the permission of neighbors or a condominium board. For instance, owners can change the landscape, the color scheme of their home, build a deck or add a shed. Owners can also make any changes to the interior, with the exception of moving the shared walls.
3.Freehold Townhome Owners Do Not Pay Monthly Maintenance Fees
Freehold townhome owners do not pay monthly HOA fees, which in Toronto, can average close to $0.50 per square foot but can reach as high as $1.00 or more. However, this means the owners are entirely responsible for the roof, exterior walls, driveway, garage, landscaping and snow removal, along with the interior. A major upside to not paying monthly HOA fees is freehold townhome resistants control the replacement and maintenance of the home’s features, and can proceed when it financially works best for them. Homeowners make their own decisions about how much to save towards future needs and can also save money by cutting their grass and shoveling their snow.
4. Freehold Townhomes Provide Privacy and Quiet to Their Residents
Freehold townhomes have separate entrances and no common hallways or elevators, which gives residents a sense of privacy. Privacy can be further enhanced by installing a fence or planting shrubs along their property line. Also, townhouses are typically multi-level units next to one and other, so people don’t live above or below each other; this minimizes noise between adjacent townhomes.
5.he Closeness of Freehold Townhome Neighbors Makes for a Secure Community
Resistants of freehold townhomes live close together, and neighbors tend to get to know each other. This closeness creates a sense of protectiveness over each other with neighbors often watching for any unusual noise or activity. Common exterior lighting between the townhomes also contributes to the safety of the resistants.
6.Freehold Townhomes are Often Less Expensive than Private Homes in the Same Area
Freehold townhomes have the same financial advantages but are less expensive than private homes in the same neighborhoods. The monthly cost for freehold townhomes is also less expensive than condominium townhomes because there is not HOA fee. Another financial benefit to townhome living is the monthly utility bills tend to be lower because the shared walls help prevent heat loss.
Freehold Townhouse residents enjoy many of the advantages of condominium townhome living, but without the HOA fees and restrictions. Visit Skyhomes for more information on advantages of living in a freehold townhome.