Whether you’re a first time buyer or you just want to purchase something smaller, new construction townhouses or a new condo can be a great choice and there are plenty of options throughout Metro Atlanta. Check out the differences between both styles below.
Those who purchase a townhome are generally purchasing the complete unit, both inside and out, including the land it sits on. This might also include the driveway, yard, or roof. Traditionally, these units are two- or three-stories tall and may also include common areas like pools and parks. Townhouse owners pay a fee to a homeowners association every month and the loan process is the same as buying a full-sized home.
Condominiums are similar to apartments in that you purchase an individual unit inside of a larger building, but not the property it sits on. This generally includes access to the building’s amenities, such as the clubhouse, pool, and gym. However, condo owners are not directly responsible for the upkeep and repair of these common areas – that is covered collectively through the payment of monthly condominium dues. Because of the number of shared spaces, living in a condo often allows for meeting new people and building a strong sense of community. There is a fairly similar vetting process for loan approval as for a full-sized home; however, the lender will also look at the health of the finances of the condo association.
Which is the best choice?
Both, new townhomes and new construction condos offer less maintenance than a traditional home and generally offer great shared areas. Your decision ultimately comes down to you and your family’s needs and wants. Things you’ll want to take into consideration include where in Metro Atlanta you want to live, price and any future change in the amount of people living in the property.
Have questions about buying a new construction townhome in Atlanta?
Call Thomas Hodgson, Atlanta New Home REALTOR® at 678.671.6767