Pigeon Forge, TN Townhomes for Sale | realtor.com® (2024)

FAQs

Do townhomes have good resale value? ›

Townhomes can have good resale value, particularly in high-demand areas or markets with limited space for new construction. Factors such as location, community amenities, the condition of the property, and market trends greatly influence their resale value.

Townhouses are a type of residential dwelling that is ideal for many who want the privacy and independence of a single-family home, with the benefits of living in a community. They're typically less expensive than single-family homes and offer a lower maintenance lifestyle than owning a standalone house.

Pros of townhouse living include affordability, HOA and shared amenities, and close proximity to neighbors. Cons of townhouse living include less square footage, less freedom about your home's appearance, and less privacy.

Resale Value

Because it is more similar to single-family homes, the value of a townhouse fluctuates more with the broader housing market. This means that townhouses can appreciate much faster than condos in a strong market, but it can also make selling more painful during a housing downturn.

Analyzing the 4-3-2-1 Rule in Real Estate

This rule outlines the ideal financial outcomes for a rental property. It suggests that for every rental property, investors should aim for a minimum of 4 properties to achieve financial stability, 3 of those properties should be debt-free, generating consistent income.

Townhouses usually retain their value, but they may not appreciate as much as detached homes. That said, a townhouse is still a good investment, especially if you want to buy real estate without committing to high maintenance and utility costs.

What numbers are best for pricing real estate? When it comes to the last digit of your home's listing price, choosing a 7, 8, or 9 can be a solid strategy for a variety of reasons — especially if you can match the numerals in your listing price to where you live.

Townhouses usually retain their value, but they may not appreciate as much as detached homes. That said, a townhouse is still a good investment, especially if you want to buy real estate without committing to high maintenance and utility costs.

A significant part of the reason condos remain harder to buy and sell has to do with financing guidelines. (1) FHA financing, which is possible with only a 3.5% down payment (which can be a gift), lower credit score and higher debt-to-income ratio, now requires that the entire complex be FHA approved.

Do condos have a good resale value? ›

Condos tend to appreciate steadily in value and offer a solid return on investment — but they come with their share of drawbacks too. Miranda Marquit is a personal finance journalist with work featured on NPR, Marketwatch, FOX Business, The Hill, U.S. News & World Report, Forbes, and more.

A report by the National Association of Realtors (NAR) shows that the median price of a condo in July 2023 was $357,600. This is a 4.5% increase from the previous year's median rate of $342,200. This report shows that in 2023, single-family homes shot up only 1.6%, a much lower rate than condos.