Dubai has evolved as a real estate investment destination over the years, thanks to its favorable government policies. In case you are willing to invest in this city, a townhouse in Dubai might be a good deal. In fact, many investors are opting for 3 and 4 bedroom townhouse for sale in Dubai. A townhouse refers to multi-level dwelling spaces that you can individually own. Each property shares one or two exterior walls with the adjacent property. Therefore, these are actually single-family homes that remain connected to similar properties by shared walls.
Compared to single-family homes, townhouses prove to be more cost-effective. Besides, the owners can benefit from several quotients such as greater independence and privacy. In the coming years, one can benefit from the high resale value of the property. Regardless of the size and configuration of the property, owners need to shell out an annual association fee for maintenance purposes.
What Is The Difference Between A Condo And A Townhouse?
Condos and townhouses are both residential spaces that different localities in Dubai currently have for sale. These properties serve as ideal dwelling spaces in urban areas that have limited spaces. Although they have a few points of similarities, as a prospective owner, you should be aware of the differences as well.
In case of a condo, you can own your unit that is housed within a larger complex. However, you won’t be owning the complex. You also get a shared ownership when it comes to the common spaces like the outdoors and the hallway. In the case of a townhouse, you would own the whole lot, that includes the yards that might come with the property as well as the interiors. This explains that with townhouses, you can enjoy a greater essence of ownership.
In terms of structure, a townhouse is quite different from a condo. The latter refers to a residing space housed within a larger complex or building. This is just like an apartment in a larger estate. these buildings might be high or low-rise in structure. On the other hand, a townhouse is typically a single-occupancy property, that has shared walls with some of the other properties around. It remains connected to the rest of the property through these common walls.
The homeowner association fees (HOA fees) refer to the charges that you need to pay to an elected board to maintain the standard amenities in the properties. HOAs come with both townhouses and condos. However, the fee and the range of included services might be different. In condos, you might come across more shared spaces such as gyms, outdoor areas, parking zones, and hallways. This implies why the HOA fees tend to be higher in the case of condos. In townhouses, you will come across some shared spaces, but they are not as extensive as in condos. The HOA fees include only some basic amenities like landscaping or removing trash.
The HOA often sets up some general rules pertaining to the common areas, modifications, keeping of pets, etc. In the case of a condo, these norms tend to be more rigid. This is because many families or individuals live under a single shared roof. This is not so in the case of a townhouse.
In case you go for a condo, you won’t have the right to alter the common spaces. However, when you go for a townhouse, you would enjoy the liberty in case you want to make a slight modification, or get the courtyard landscaped. However, it is imperative to retain the external uniformity throughout the complex. For instance, you might have to select from a few colors in case you want to paint the exterior of your property.
Get Across To A Real Estate Consultant
Looking for an affordable 4 bedroom townhouse for sale in Dubai? It would be an intelligent move to seek professional support from a real estate consultant. The experts at Azco Real Estate Brokers can guide you in this regard. This way, you will get an idea of the tentative price of the property, based on the locality you wish to make the purchase in. The professionals will comprehensively guide you on the legalities and help you out with the paperwork as well.