Buying a townhouse may be right for you, if you are one of those people who does not like to maintain their lawn or want to commit to a large down payment for a conventional home.
Townhouse is a unit-based home purchase. You may find townhouses in planned developments where all homes have similar style. Buying a townhouse you are not responsible to for the common areas, but you do pay individual property taxes.
What are the reasons to buy a townhouse?
Less Commitment
Townhouses are great for those who do not want to pay for the common area maintenance but would like to own their home. It is easier to buy such a property as it does not require large down payment as for a standard house.
The Amenities
Townhouses may have all the facilities and amenities, as they are usually located in planned areas. These amenities may comprise a shared swimming pool, restaurant, meeting rooms, recreational areas, common barbecue or picnic areas, tennis courts, security and fitness center.
Townhouse Ownership
Townhouse will allow you to have a private entrance, private garage (if possible) and a piece of land. The ownership of a townhouse unit is a very similar to the conventional house. Owning this property, you will have a title deed of the townhouse and the land where it locates.
Appeal for the Elderly
Town home is a great opportunity for retirees due to its security purposes and community involvement.
Simple Care
Townhouses usually require simple care and detailed guidelines of what you can and what you are not allowed to do to your property are provided. Generally in Cyprus there are no such restrictions on owning the townhouse, though some developers may apply them.
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