Are you looking to buy new construction single-family homes in South Florida? Are you overwhelmed with all the single and attached homes out there? There is no denying that choosing your dream home is one of the most significant decisions of your life. For some, the goal of buying a home includes a lawn and property line, whereas, for some, the goal is a low-maintenance and active lifestyle.
You must have realized that the significant decision that you need to make is a choice between purchasing a single-family home or an attached unit. Even though each of these is viable housing options, attached homes have lately been quite high in demand. While you might entirely be starstruck by the immediate differences in their appearance, there are only a few other contrasts that people are not quite aware of that makes attached homes a better option.
Before we look into the various aspects of single-family and attached homes, let us first understand what they are.
The thought of moving into an attached house is incomprehensible to some citizens. A single-family home comes with the courtyard and privacy, which many purchasers, particularly in their dream home, are not willing to give up so easily. But today, more and more people are turning their minds about whether they are considered to be a deal breaker, and most importantly. Of starters, whether you can swap the yard for a closer path to work, or a community, you ‘re up for it.
Similarly, if an attached home is relatively new at a lower price compared to an existing single house at a more expensive price, then what they will prefer is unquestionable. With these factors, the downside of having to share your wall and your home with someone else is not as high as the drawbacks.
Single-family homes are most often found in the suburbs of larger cities and, at times, may also be in a subdivision. A single-family home comes with a yard, garage, a private garden, a swimming pool, and other amenities. Let’s dive into the additional aspects of single-family homes.
Attached homes can be a part of a larger multi-story building, a small strip of town homes, and maybe also be termed as condos, co-ops, and townhouses. One central aspect that sets attached homes apart from single-family homes is that the homeowners share common areas.
While it is more noticeable to millennials to refurbish homes or purchase homes as investment property, many consumers still want this turn-key building. Since single-family homes are small, most buyers need to purchase a house that has been rented for some time and the house has been around for quite a long time. Buyers searching for something different and new will find what they’re searching for in an attached home more easily.
The deciding parameters
The HOA fees (Homeowners Association) or the fees for maintenance are quite common in the attached units. So essentially, the HOA looks after the maintenance of the property from cutting the grass to a clean-up of the swimming pool. Based on your property policies, the HOA can look after everything from landscaping to repairing to property taxes.
It is important to note that the HOA can be only limited to the upkeep of the common areas while you are still responsible for the repairing of the appliances and the interior of your home. With the HOA in place, you are actually saving on a lot of time and money in maintaining your property.
If price and the cost are what worries you, then attached homes are the right decision for you. It might come quite as a surprise, but attached homes with communal areas cost way cheaper as compared to new construction single-family homes in Florida that need a lot of work.
So if you want true value for money, then the attached home is perfect. Even though some of the amenities are common, they, in turn, make a living in attached homes more valuable and affordable than single-family homes.
Related: Factors affecting Land Value
If work and family responsibilities take you out of town quite frequently, then you need not even think twice about the maintenance of your attached home. But if you had to own a single-family home, then you might need to invest more to have someone help maintain it. In other words, your single-family home would need someone to mow the lawn and clean the pool while you are away. In addition to this, the privacy that single-family home offers might also lead to a good spot for burglars in your absence.
On the other hand, with attached homes, the HOA maintenance fees take care of the upkeep all-year-around. And since it is an attached unit, your neighbors are always on the lookout and maintain safety and security.
If you are someone who lives with minimum possessions, then an attached home is the best option for you. Some also refer to attached units as fewer houses for less money. So, essentially you take the money saved and use it for your education, vacations, donations, etc.
Closer proximity to the town
Single-family homes are usually in secluded subdivisions or out of the country-side away from the city. Attached homes, on the other hand, are closer to the city that gives you easy access to entertainment and dining options, closer work, and easy daily travel. You can also make the most of public transport or simply pool a ride.
In addition to these, some attached homes also have dining options added downstairs in the building itself. So if convenience is what you desire, the attached home like a condo, co-op, or a townhouse is exactly what you need.
Before you decide on making a purchase, you need to have a good financial position. The lower your debt-to-income ratio, the healthier is your financial standing. If you are planning on making purchases via a mortgage, you need to make sure to have a financial cushion.
In addition to this, attached home units are quite cheap and therefore do not burn a hole in your pocket. Due to all these reasons, attached units are highly preferred rather than single-family homes.
Author Bio: Gilles Rais is the founder of Gilles Rais Fine Homes. With over 25 years in this community and 16 years as a realtor, Gilles has acquired a depth of market knowledge and experience that led him to the top of the real estate world in South Florida.