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are townhomes a good investment?

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June 10 2013 - Cary
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Answers (4)

No one knows the future, but prices and rates are still very good for buyers.
The townhomes around Cary are generally pretty nice and may be a money maker as the years go on.
Have your Realtor show you all your choices and pick the best 2 or 3.
Usually the first one you want will sell to someone else because you thought about it too long.
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June 11 2013
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I would agree but, if the HOA does not allow rentals you may have a tough time buying AND selling.  No one wants too many rentals in their neighborhood.  However, the fact is some lenders will not loan money to borrowers in those situations where there are tight rental restrictions.  To complicate things, lenders may be tough where there are too many rentals percentage wise.  Anyway, with lenders rules and the HOA rules you often have a smaller pool of buyers for you down the road.  THAT itself may determine whether or not its a good investment.
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June 11 2013
They can work fine. However, some do not have an HOA and if you have obnoxious/loud/sloppy neighbors there is no one to complain to, but the police. In complexes without an HOA and the roof leaks into your unit, but the cause of the leak is on the roof of a neighbor, then you might have a problem getting it fixed.
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June 11 2013
I know quite a few people that started with a town home.  For example one person actually bought the house when they were younger for a good price, lived there for a few years renting the other rooms out to friends and eventually moved out and renting the entire place.  He now has a rental property that is worth twice as much as he paid, the rent is three times the mortgage and uses the equity sometimes for other properties.  I would say as an investment they are pretty sound, but every situation is different and must be examined thoroughly. 
Good Luck
Rick
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June 10 2013
 
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are townhomes a good investment?
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