9 Reasons To Choose a Modern Townhome for Rent In 2023
Over the years, the price of single-family homes has increased, so buyers and renters are seeking cheaper alternatives like townhomes. Townhomes offer single-family living outside the suburbs and come with several benefits.
A townhome can have similar features to a traditional, separate house but is typically narrower with multiple levels. Here are nine reasons to explore modern townhomes for rent:
Table of Contents
1. Less Upfront Expenses
Townhome tenants pay less upfront than when buying.Townhomes for rent may require the first and last month’s rent and a security deposit, but that is often lower than what buyers pay as a downpayment. Financing or mortgages may require a downpayment of 20% of the house’s value.
Although qualified USDA home loans have no down payment and provide lower interest rates, not all homeowners are eligible. With a townhome, renters don’t need a mortgage, which typically involves paying monthly private mortgage insurance premiums.
Tenants incur a renter’s insurance policy fee that may be cheaper than a homeowner’s insurance policy for an equivalent unit.
2. Downsizable Option
Most single-family homes are bigger than townhouses. They offer more square footage, rooms, and privacy but are only functional if some space is used.
Depending on your financial situation and priorities, downsizing to a townhome may help you have a more manageable space if you don’t have the finances to maintain a larger home. A townhome might help you maintain your living space and reduce clutter and energy bills.
3. Low Maintenance
Depending on state laws, lease agreements, and building codes, your landlord makes rental spaces habitable. That may include paying for repairs and maintenance. Landlords usually cover general maintenance like plumbing, electrical wiring, outlets, and roofing.
Check local laws, codes, and lease agreements to understand the types of repairs and maintenance a landlord is responsible for. You may be liable for damages you cause. Compared to buying, renting a townhouse can have fewer maintenance and repair costs.
4. Access to Amenities
Most midscale to upscale townhomes might have shared amenities. These community amenities may comprise pools, gyms, clubhouses, and more.
These amenities improve convenience, as renters can access pools, fitness facilities, and more without leaving the neighborhood. Some townhouse communities may charge extra fees for amenities. The costs can be cheaper than installing and maintaining them yourself.
Job transfers, family expansion, or individual preferences may impact one’s housing needs. Townhomes for rent allow families to adapt to these changes without the ownership limitations. Give notice to the property manager to move to your new location.
When renting, tenants can change townhomes as soon as possible. Buying a house may require one to list the current property. People must rent or sell unoccupied properties to alleviate mortgage, insurance, and other expenses.
6. Privacy and Security
Fences and security systems usually help single-detached homes keep away intruders. Although not all townhouses have these features, you can get units with security gates or access control features. Check for well-lit units with access control systems to improve your family’s security.
7. Convenient Location
Townhouses near urban areas might offer easy access to shopping, dining, and transportation facilities. A well-planned location can enhance a tenant’s mobility. Tenants may spend less time commuting to schools, parks, and other locations.
8. Sense of Community
Townhouses for rent place multiple tenants close to each other, accessing shared amenities and spaces. The proximity to neighbors may offer opportunities to build stronger relationships than in single-detached home neighborhoods.
Tenants use the same public areas, making it easier for tenants to engage in group activities with neighbors. Single-family houses have communities, but some are separated by yards or fences.
9. Contemporary Living Spaces
Modern townhouses may boast contemporary structural designs and floor plans. Some integrate trendy ceiling designs and countertop materials. They may offer up-to-date in-unit features, and tenants may enjoy having modern features and appliances.
Renters may access modern decorative ideas and layouts that optimize functionality for people living alone or with their families.
Consider Townhomes for Rent Today
Townhome rentals can be more affordable than purchasing a house. Renting offers downsizing flexibility, lower maintenance, more freedom, and a rich sense of community. Tenants can enjoy an active and involved community with affordable living amenities. Check out townhomes for rent today and explore more of these perks.