First time home-buyers pay attention.
Investors pay attention.
Why should you consider a townhouse in Cheyenne, WY? That is a great question and I am glad you asked. Therefore, I will tell you.
- For first time home buyers, a townhouse is NOT the same as an apartment or a condo unit.
- This is a great way to get on the property ladder. Current prices on entry level townhouses are still much lower than the average cost to rent a home in Cheyenne.
- Newer townhouses generally have less upkeep than similarly priced homes. A home in a similar price is much older and is already going to have upgrades that may be needed. This could include electrical, plumbing, or heating systems. All of these items can cost several thousand dollars to fix or repair.
- For investors, townhouse units in Cheyenne tend to provide a stable income for years to come. This will certainly be the case when you consider the coming expansion of military personnel at FE Warren AFB.
- With current rental prices, you can purchase a townhouse that will easily reap dividends and help you to obtain equity quicker than a newer home would be.
- Right now, townhouses are coming on the market between $150-180,000. Again, this is much lower than the cost of a new home. Yes, there are townhouses that exceed $225-250,000 as well if your home preference is a townhouse style.
- Townhouses can be appraised and you can get a VA, conventional, or FHA loan on them vs. a condo style unit where you might only be able to get a deal if you have cash or can get a conventional loan.
These are just a few reasons why a townhouse is a great deal in Cheyenne. Below, I am including a link to show the difference between a condo and a townhouse. This is fairly straightforward and for the most part describes what you should know about the two types of homes.
https://blog.nationwide.com/condo-vs-townhouse/
As always, if you are looking for property, please give me a call and I would love to be of assistance in your search, or to help you sell, especially if you are looking to make the next move from a townhouse to a fully detached property. My number is 307-286-0396.
Mark Escalera – Cheyenne Realtor
