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Townhomes Part 2 – An alternative to an apartment

Previously we described condominium townhomes. Now we will provide you some insight on freehold townhomes so you may consider which opportunity is best for you, your lifestyle and circumstances.

Freehold means that you (and perhaps the mortgagee, the bank) alone own the unit and the lands around it – based upon the legal survey for your property. Typically, freehold townhomes are built as small neighbourhoods where like-minded individuals create their own sense of community. Since you own everything, unlike a condo townhome, you are responsible for absolutely everything related to the maintenance and upkeep of your unit – just as if you had purchased a single or semi-detached residential home. You may do almost anything you want to your property – as long as you follow applicable city zoning bylaws. There is no board, no corporation and no property management firm. As such there are no monthly maintenance fees as you will expect in a condo. Of course, you still have to pay the city your residential taxes.

Freehold townhome development units tend to offer a greater selection of availability in many different neighbourhoods. The sizes and floor plans will vary depending upon the builder and of course, the initial sale price. Many affluent buyers look to a freehold solution as an option for their later years. Often two levels, as opposed to the typical multiple layered level of a condo townhouse, freehold townhomes can be perfect for professionals who no longer need a large home for the whole family, but still have a requirement for upgraded features – on a smaller lot.

Mary Bateman is your single source resource for all kinds of housing options in Barrie and Simcoe County.

A professional real estate agent with considerable expertise and knowledge of the residential home and condominium market in Barrie and Simcoe County, she is ready to work for and with you. Call Mary Bateman today at RE/MAX Chay Realty Inc. at 705-722-7100 or toll free 866-606-2429. Get to know Mary at www.marybateman.com or on Facebook. A convenient call or a click away.