Time To Buy Farmington Townhomes?

Farmington townhomes for sale

As you begin your property search for Farmington townhomes for sale, you should be aware of the both the benefits and challenges of townhome living. Tens of millions of Americans enjoy living in townhomes today and it might be a perfect housing solution for you. Just like with any type of real estate purchase it is important that you understand the nuances of the home style that you purchase before signing on the dotted line.

Prices for Farmington townhomes for sale

Farmington townhomes for sale are often priced significantly less than traditional single family houses due in part to the use shared walls and common areas. The townhome association to which you will be required to belong is responsible for upkeep of these common areas as well as some of the exterior maintenance of your home as well. This can make buying a Farmington townhome especially appealing to busy first time home buyers as well as to retirees who prefer not to deal with that type of upkeep.

This fact does not mean that the maintenance is without cost, as you know. As a part of your responsibility for living in a Farmington townhome you will need to pay monthly association dues. These dues cover a variety of things but the extent to what it covers can and will vary from one Farmington townhome association to another. For example while your association dues might include insurance for your dwelling in one association, you might have to pay that on your own in another. It is important to investigate these points before you buy a Farmington townhome since your monthly costs of living in that particular home can vary widely.

Farmington, MN Community Information

Farmington, MN is a rapidly growing outer-ring suburb of the Twin Cities. With plenty of affordable real estate, Farmington, MN has almost doubled its size over the past decade, now with over 20,000 residents. Convenientlyocated just south of Rosemount in Dakota County, many Minnesota first time buyers have used the Dakota County first time buyers program to buy a home in Farmington. If you are looking to buy or sell real estate Farmington, MN real estate please don't hesitate to send me an email.

Interior Contents Insurance for Farmington Townhomes

You should also know that in most associations your interior contents of your townhome will not be covered by insurance. This means that you will want to also maintain “walls-in” insurance which is comparable to renters insurance, which is an additional annual fee to your insurance company. If you are getting a mortgage for your Farmington townhome you will be required to buy and maintain this type of insurance for your home.

Farmington townhomes for sale: The Pros

• Low maintenance lifestyle
• Less expensive homes
• Shared amenities such as recreational areas l
• Often a small back yard
• No neighbors located below or above as is common in condos

Farmington townhomes for sale: The Cons

Townhome association monthly dues

Small yard or occasionally no yard at all

Shared walls can result in hearing noise from neighbors

Get Pre-qualified

The first part in the process of buying a house is to get prequalified for financing. This means that you meet with a local mortgage lender who analyzes your credit, income, assets, and debts. In the prequalification application they can tell you what types of Minnesota first time buyer programs you might be qualified for. This critical first part can be done over the phone and most lenders will even do this with you when you are off from work.

Robert Phyle,CSP,GRI,RSA
Broker Associate, Realtor
Coldwell Banker Burnet
rlphyle@cbburnet.com
Cell 612-801-4657
Direct 952-997-1955
Fax 952-432-8372
7741 147th St W.
Apple Valley, MN 55124
www.facebook.com/robphylerealestate
Visit my website to find Minnesota homes for sale