Buying a home is one of the most significant decisions you make in life. With the real estate prices skyrocketing, buyers have to turn their attention towards the concept of Townhome Ratchaphruek [ทาวน์โฮม ราชพฤกษ์, which is the term in Thai] as the affordable and comfortable option. If you are looking for a larger space to live in, then the townhouse can be the right option instead of settling for the condos. But this option will work for you only if you avoid searching for detached or semi-detached options. However, the townhouse has a connection to the neighboring units on both sides. Hence, the takeoff will come at the expense of the outdoor yard size.
Factor #1: Understand the governance
Townhomes will come under one of the following three categories:
- Freehold
- Part of the Condominium corporation
- Condominium
The freehold property will be free from the governance of any organization apart from the buyer. So, you have no special ownership apart from the conventional laws and regulations that apply to every homeowner. In case of governing from the condo association, you will hold shared ownership to the shared areas and certain facilities. You have to pay monthly fees too, in some cases, for maintenance.
Factor #2: Renovation and modifications
Your ownership usually has limitations within the four walls when you own a townhouse. The internal walls, walkways, lawns, windows, parking area, and other facilities are communal property. Hence, you can face restrictions about the type of renovation or remodeling you want to have. In most cases, the law bars you from making any structural change or even decorative changes to the external site or any modification that will impact the access of the community to the property. If this isn’t your issue right now, think about it as it can become a problem down the line. You should inquire about the renovations and modifications that you can actually execute there.