Shakopee townhomes for sale: The Pros and Cons
There are many good reasons to look for Shakopee townhomes for sale. Over recent decades this type of home has offered a convenient lifestyle to millions of Americans. With reduced home maintenance and lower priced housing, many people find townhome living to be more conducive to their lifestyles. So what are the pros and cons to living in a Shakopee townhome?Shakopee townhomes for sale are quite often priced more favorably than traditional single family housing 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 Shakopee townhome especially appealing to busy first time home buyers as well as to retirees who prefer not to deal with that type of upkeep.
Shakopee Townhomes: Association Dues
This does not mean that the maintenance of the home is free, of course. Included in your responsibility for residing in a Shakopee townhome you will need to pay monthly association dues. This monthly fee covers a number of things but as to what it covers can and will vary from one Shakopee townhome association to another. For example, while your association fees might include home insurance in one association, you might have to pay that separately for that in another. It is important to review this information before you sign a purchase agreement to buy a Shakopee townhome since your monthly costs of living in that particular home can vary widely.
Conveniently located just southwest of Minneapolis, Shakopee is a rapidly growing suburb of the Twin Cities. As the county seat of Scott County the city of Shakopee has more than tripled in size over the last twenty years. Every year Shakopee attracts tourists from all around the area with popular destinations such as the Canterbury Park horse race track, the Valley Fair amusement Park as well as the Renaissance Festival. As an outer-ring suburb many residents work in downtown Minneapolis. First time home buyers in this area in this area will want to look into the Scott County home buyers club for down payment assistance.
Shakopee Townhomes: Using FHA Financing
If you are using an FHA loan to buy your Shakopee townhome, be certain to investigate how the homeowner's association was originally formed before you make your offer. In many cases, the associations for townhome communities were actually formed as condominium associations which was a cost saving measure for the townhome developer. If the association is actually a condominium association, FHA has special requirements for condominiums and will treat this as one. If the condo association is not yet approved by the FHA, the process for getting FHA condo approval can be time consuming and could possibly delay your loan closing by weeks.
Shakopee townhomes for sale: 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
Shakopee townhomes for sale: Cons
Get Preapproved Today
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 will review your financial situation. In this discussion they can tell you what types of MN first time buyer programs you might be qualified for. This critical first part can be done over the phone and most lenders will arrange to talk with you when you're off work, even in the evenings or weekends.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
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