Condo and Townhome living in Gloucester County, NJ ~ Affordable and Stress Free!

Looking for an affordable and hassle free way to live?  Have you considered a town home?

You mayhave asked yourself what the difference between a townhome and a condo is?  Are your responsibilities as a homeowner different?  Are you responsible for other people's trash, fees etc.?

Here are a few FAQ's that might help you make a decision as o whether it is right for you:

Definitions:

Condominium    A type of ownership in real property where all of the owners own the property, common areas and buildings together, with the exception of the interior of the unit to which they have title. Often mistakenly referred to as a type of construction or development, it actually refers to the type of ownership. (Real Estate and Mortgage Abc.)

Townhouse        A townhouse is one of a row of homes sharing common walls. Differing from condominiums, townhouse ownership does include individual ownership of the land. There can also be common elements, such as a central courtyard, that would have shared ownership. (Realestate.about.com)

SO, when you have a townhouse you actually own some of the land and with condo you don't.  This is important when you come to paying taxes and association fees.

Common Areas   Those portions of a building, land, and amenities owned (or managed) by a planned unit development (PUD) or condominium project's homeowners' association (or a cooperative project's cooperative corporation) that are used by all of the unit owners, who share in the common expenses of their operation and maintenance. Common areas include swimming pools, tennis courts, and other recreational facilities, as well as common corridors of buildings, parking areas, means of ingress and egress, etc. (Real Estate and Mortgage Abc)

Single Family Home   A single family home, ok so I didn't find a specific definition but, consists of a single family residential dwelling set on a specified plat of land in which the owner or owners has sole right to.

(Note:  There are different types of home ownership including fee simple, tenants in common and joint tenancy, etc.)

So here are a few questions to ask yourself when considering your home:

1. Am I handy?  With home ownership comes responsibility of up keeping the home inside and out.  Now, here is where a town home or condo differs from a single family home.  With a town home or condo the exterior of the building, roof, siding, outside, deck, landscaping, etc. is taken care of via your association fee.  With a single family home it is on you to get out the hammer or start the lawn mower!
2. Do I like to entertain outside?  I think this is a very important consideration.  Most condominium or townhouse associations already have predetermined areas for this or allow you to out a small grill on your deck or patio.  If you have 10, 20 , or more people you like to entertain, you may want to consider a single family home.
3. What does your future hold for your family and career?  First time home buyers who are focused on their career and do not have loads of time to spend pulling weeds would benefit greatly from having the association do it for you.  How long before you consider having a family and how many children do you want.  Condos and town homes make a great starting point, but keep in mind the storage is usually somewhat limited!
4. What is my budget?  Because you are responsible for more land, and building (exterior) with a single family home you can sometimes be hit with added expenses that were not in your budget.  Owning a townhouse or condo can eliminate some of that worry.  On another note:  it is important to consider the age of the condo or town home when you purchase, if it is over 15 years old consider the fact that the association may be replacing the roof in the next few years, or maybe repaving the parking lot - when they do they can add a special assessment to your condo or town home.  Sometimes it is in a lump sum or payments over a period of years.
5. Do I want a pool?   If you like to enjoy the pool but don't like to maintenance than an association is great!  But keep in mind you may never have it to yourself!

There are many, many more questions to consider but I hope that these have sparked some thought on the subject.

Here are a few condo and town home associations in Gloucester County to consider:

Emerson Green - Clayton, NJ

Liberty Place - Deptford, NJ

Washington Crossings - Deptford, NJ  (new construction still available)

Rittenhouse Square - Deptford, NJ

Knightsbridge - Deptford, NJ

Country Creek West - W Deptford, NJ

Grande at Kingswood - W Deptford, NJ

Pelican Place - W Deptford, NJ  (55+ development)

Riverwinds - W Deptford, NJ  (55+ development)

Stones Throw - W Deptford, NJ

St. Regis Walk - W Deptford, NJ

Grande at Kingswood - W Deptford, NJ

Greenwich Crossing - E Greenwich Twp, NJ (new construction still available)

Oakridge - E Greenwich Twp, NJ

Doubletree - Glassboro, NJ

Hidden Creek - Glassboro, NJ

Meadows - Glassboro, NJ

Olde Orchard - Glassboro, NJ

Summit Square - Glassboro, NJ

High Pointe - Harrison Twp, NJ

Twelve Oaks - Harrison Twp, NJ

Walnut Glen - Harrison Twp, NJ

Royal Oaks - Mantua, NJ

Timbercrest - Mantua, NJ

Country Crossing - Logan Twp, NJ

Village Of Berkley - Mantua, NJ

Villages of Mantua - Mantua, NJ

Canterbury Mews - Sewell, NJ

Hunt Club - Sewell, NJ

Fries Mill Estates - Sewell, NJ

Liberty Forge - Turnersville, NJ

Meadows - Sewell, NJ

Parke Place - Sewell, NJ  (55+ development)

Peachtree - Sewell, NJ

Severan - Sewell, NJ

Washington Way - Sewell, NJ

The Clusters - Turnersville, NJ

Sawyers Creek, Sewell, NJ

Birches, Sewell, NJ

Amberleigh at the Arbours - Williamstown, NJ (new construstion still available)

Spring Ridge - Sweedsboro, NJ (new construction still available)

Wenonah Woods - Wenonah, NJ

Blue Bell Farms - Williamstown, NJ

Brandywine Village - Williamstown, NJ

Fox Hollow & Fox Hollow West, Williamstown, NJ

 

Wow!  You have a lot to think about! 

For more information about any of these developments, feel free to stop by my website at

http://bridgetcella.weichertagentpages.com/

or call me anytime at 609-352-1667!