Do you own a townhouse that you want to sell, but you don’t know how to go about selling a townhouse since it’s such a unique type of real estate and you don’t think you will find a buyer for it? Worry not! I’m here to show you how to sell townhouses with ease, and why it’s much easier than you think.
Before jumping right into the topic, however, let’s first go over the basics: what is a townhouse? What are the different types of townhouses? These questions are important, and their answers are key when it comes to selling a townhouse.
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What is a Townhouse?
Before getting into the details of “how to sell townhouses”, we should know what counts as a townhouse, or as some might call it – an attached townhouse.
Perhaps the most notable characteristic which most people recognize about townhouses is that they come in groups of 3 or more houses that share walls with one another; and probably, the image that comes into your head looks a lot like this:
And while most townhouses do have a similar exterior design, not all townhouses are the same, and there are in fact two distinct types of townhouses that differ in key factors, and which you will need to identify when trying to sell a townhouse.
So, here are the key characteristics that make up a townhouse:
Townhouses have at least one shared wall with another townhouse.
Usually, townhouses come in groups of 3 or more which are all aligned next to one another. This means that townhouses on the edges will only have one shared wall, but all the rest will have two shared walls with their neighbors.
They have somewhat uniform designs across multiple units.
Most townhouses will have very similar exterior designs, but it is possible to find townhouses that have slightly different designs, like a small porch or a larger yard. It is common, however, to have different interior designs, such as a different number of bedrooms or bathrooms.
More often than not, they have two or more stories.
Most townhouses will have two or three stories. However, some townhouses will only have a single floor. These are popular among elderly residents who prefer to have a single-floor home.
All units contribute to a shared maintenance organization (like an HOA).
Perhaps the most iconic aspect of a townhouse is the shared maintenance which is handled by the owner of the townhouse project. This is usually a considerable fee, but it covers the majority of the townhouse maintenance and repair fees.
Types of Townhouses
While the above characteristics can be found in all townhouses, there are certain differences that exist between townhouse projects that split them into two distinct types.
The two main types of townhouses are Simple Townhouses and Condo Townhouses. The key difference between the two is the type of ownership that you have over the property – more specifically, how much liberty do you have over the interior of your property when it comes to making changes to it.
How to sell townhouses? It is very important to know the difference between the two types of townhouses and to be able to identify the type of property that you own, and to use the specifics of that type to market your townhouse for the right buyer!
A simple townhouse has a very similar ownership structure to a single-family home, where the ownership extends to the entirety of the property, from the ground up to the roof.
This is a very crucial aspect of the simple townhouse as it means you have the freedom to modify your house in whatever way you want. However, this also means that your HOA fees will have less coverage, and you will have to pay the maintenance costs of a larger portion of the property.
A condo townhouse, on the other hand, only gives you ownership over the interior structure of the property, but not the exterior walls.
This means that your HOA fees will be higher as they cover a larger portion of the property. It also means, however, that you will not have to worry about the maintenance of the exterior space of your property, such as the lawn, roof, and walls.
How to Sell Townhouses – Best Practices
Just like any other type of niche real estate, there are some practices that, when followed, will significantly increase your chances of selling a townhouse.
These tips mostly involve the type of information that you want to give out or highlight when listing your townhouse for sale. Below them, I will talk about the best online marketplace that you could use to sell your townhouse with ease, and these tips will help you set up your property’s profile when you want to list it for sale on this marketplace.
So, how to sell townhouses? Follow these best practices:
Hire a Real Estate Agent
Whether you’re a buyer or a seller, whenever you want to close a real estate deal, hire a real estate agent.
If you’re looking to sell a townhouse, then make sure to look for agents who specifically specialize in selling townhouses. These agents will have experience and access to wide-reaching networks of buyers who are interested in purchasing a townhouse.
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Set the Right Price
When it comes to selling townhouses, it is important to remember that the main reason people want to buy a townhouse is that it is more affordable, in general than a single-family home.
With that in mind, make sure to compare the prices of single-family homes and townhouses in your area to determine how much cheaper it is to sell. Additionally, in recent years, fewer new townhouses are being built, which means that the inventory of townhouses is low. Depending on your area and the market trends, you might be able to sell your townhouse at a higher price than you think you can!
Highlight the Community
While the “intimate” nature of townhouses might not appeal to most people, some buyers might be specifically looking for a house where you share your wall with your neighbor.
This is because townhouses in general offer more sense of safety and security which outweighs the loss of sense of privacy that townhouses are known for. When marketing your townhouse, make sure to highlight the sense of community that it offers.
This can also include any commuting areas that the townhouse has access to, like a nearby park or a hiking trail, as these can be very attractive features for the right type of audience.
Market the Neighborhood
Similarly, it is important to highlight the positive aspects of the area or neighborhood.
In your listing, mention the best features about the neighborhood, like a nearby shopping mall, a nice restaurant, or any other attractions in the area.
Focus on the Unique Aspects
When it comes to the property itself, make sure to highlight the unique aspects of your townhouse property.
Since townhouses, in general, have similar designs, highlighting the unique features of your property can drastically set it aside from other properties like it and increase your chances of selling your townhouse.
Some of the most notable features that you can highlight include having an edge townhouse, meaning you only have one shared wall, while the other wall would have extra windows on it. You can also highlight having a great view, a larger yard, or an added porch in front of the house.
And of course, you should always mention all the basic details about the house, such as the number of bedrooms and bathrooms, as well as the number of floors that it has.
Stage Your Townhouse
One of the most important aspects of selling a townhouse, or any other type of house in that matter, is photography.
Staging your townhouse and taking professional-level photographs can drastically increase your chances of attracting interested buyers, especially when the photographs are highlighting the best features of your property, like the sun coming through the windows or the cozy tight design.
When staging your house, make sure to follow the best practices of photographing your house, such as minimizing clutter or utilizing the best time of the day.
Mention the HOA Fees
Another very important thing to mention in your listing is the HOA fees or their equivalent.
Some sellers are reluctant to mention the HOA fees as they fear that the high rate might scare the buyers away. However, a buyer will always want to know what the HOA fees are to see if they are worth the rate.
Instead, make sure to mention your HOA fees in detail by listing all the things that they cover, such as roof and wall maintenance, lawn care, and any other benefits that you gain from paying their fees.
How to Sell Townhouses – Property Marketplace
Now that you know what are the best practices to follow, let’s talk about how to sell townhouses with ease using Mashvisor’s Property Marketplace tool.
Mashvisor is a real estate platform that was designed to help real estate investors, agents, buyers, and sellers like yourself. The platform offers a wide range of tools that cover all the basic and not-so-basic needs of any real estate enthusiast, from beginner buyers to advanced investors.
When it comes to selling a townhouse, the tool that you will be most interested in is the Property Marketplace.
Mashvisor’s Property Marketplace
Mashvisor’s Property Marketplace is an online platform that’s designed to help buyers and sellers find one another based on what the buyer is looking for and what the seller is offering.
As the name suggests, this is a true and realized online marketplace for real estate, which is designed with a simple yet efficient interface that makes buying and selling properties easier than ever.
As a seller, you will be able to list your property and add all of its relevant information to the Mashvisor Property Page – which is the page that potential buyers will see when browsing the marketplace.
On this page, you will be required to enter the basic info about the property in specific fields. This info includes the address, the price of the property, the type of the property, and a number of other info that you should have access to.
Of course, you can also add photos of the property, as well as any additional info or notes that you would like to add (follow the list of best practices above).
When buyers come to the marketplace looking for a property to buy, they will use filters similar to the fields that you have filled about your property. This allows them to filter their search results down to be more specific based on their criteria.
This means that potential buyers who will come across your property on the marketplace will have a much higher chance of buying since your property matches their search criteria.
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Additional features that we offer which go hand in hand with the property marketplace:
Our platform includes real estate agents as well, for both buyers and sellers. Using our property marketplace, you will also be able to match with a professional real estate agent who specializes in selling townhouses, making the entire process that much easier for you.
Additionally, our other tools include neighborhood analytics that allows you to compare your property to other similar properties in the market, which can greatly help you set the right price on the property. While our property analytics page allows potential buyers to see how your property will perform as an investment property, or if they turn it into a rental property, to decide whether or not they want to buy it for investment.
Conclusion: Are Townhouses Hard to Sell?
Attached townhouses may not be for everyone, but they are far from being hard to sell!
Just be aware of your property’s strengths and weaknesses, follow the best practices and use Mashvisor’s Property Marketplace and your journey to selling your townhouse will be as smooth as it can be!
Make sure to join Mashvisor today and start using the platform that makes buying and selling real estate possible from the comfort of your own home.