The right property investment can be a good source of income. While there are plenty of advantages to investing your money, finding the right type of property can be challenging. From houses to farms, there are plenty of options to choose from. Buying a townhouse is a popular option as it comes with better security and reduced maintenance. If you want to reduce the hassle of renting out your property, why not consider finding townhouses for sale on Junk Mail?
What is a townhouse?
So, what is a townhouse? This term typically refers to a single-family housing unit in a complex. Big complexes usually have extra benefits, such as high security and swimming pools. Other common areas, which are shared by residents, may include gyms and parks. In this arrangement, each townhouse is owned by individuals while the shared areas belong to a corporation of owners.
Reasons to find townhouses for sale
Are you wondering if finding townhouses for sale is the right investment opportunity for you? Take a look at our top 7 reasons why owning this type of property is a good choice.
Benefits of a body corporate
Complexes are run by a body corporate, which consists of individuals, who are selected by the owners. The body corporate is responsible for ensuring that the complex is well-run and that it is maintained properly. They can typically ask tenants to pay a fine if they disobey the rules of the complex. The townhouses in the complex are occupied by a combination of owners and tenants. The owners, who live in the complex, are usually involved in the proper upkeep of the complex. They are also invested in ensuring that the levy is kept at a reasonable rate. The low maintenance that comes with complex living is also appealing to prospective tenants, which makes it easier to rent your property out.
The high crime in South Africa makes security an important consideration for property investment. Complexes usually have good security including high walls and guards. These measures help to control access to your property. It also prevents your tenants from having destructive parties or engaging in activities that could cause damage to your property.
When you rent out your property, garden maintenance becomes a hassle if your tenants don’t take care of the garden properly. Another reason to find townhouses for sale is that the body corporate is responsible for taking care of the garden. The elimination of the worry that tenants will ruin your garden, reduces the hassle of renting your property out.
Townhouse complexes usually consist of similar units that are grouped together. This allows you to check that the property is competitively priced. It also allows you to get an idea of what you can expect to charge for rent. Knowing how much you will be receiving monthly is important to decide whether you are making a good investment or not.
Better purchase prices
Another reason to make this type of property investment is that these types of properties are generally more affordable than houses. If you are entering the property market, it is easier to raise the funds for a townhouse than a standalone property.
Complexes usually have additional amenities, which are appealing to tenants. Safety is a positive aspect of complexes, which will make it easier to find people to rent your property. Properties with shared pools, gyms and parks are also appealing to prospective tenants. If you find a development that is in the vicinity of shops and public transport networks it is advantageous.
Location is an important consideration when you are making a property investment. Better locations come with a higher price tag which can be out of reach for some investors. Complexes are designed by skilled professionals who make the best use of space to offer buyers affordable prices.
An investment in a townhouse means that you can afford to buy in a prime location that you may otherwise not have been able to afford. Not only does the location affect the value of the property, it also affects the price of the rent as well as the chances of you finding quality tenants.
Now that you know more about the benefits of finding townhouses for sale, you can search online for great bargains. From their affordability to their great amenities, there are plenty of reasons to buy a unit in a complex.