March 22, 2015
Should I buy a Crested Butte Townhome, Condo, or Single Family Home?
One of the first questions that a prospective homebuyer in Crested Butte and Gunnison might ask is what type of home they would find suitable, which may or may not include single family homes, townhomes, and condos. Buyers will find that their budget and their “must-have” list will determine the types of home that they are willing to purchase. Let’s take a look at some of the pros and cons of each type, and see what might be right for you:
Single Family Homes
Single family homes are most often desired for the peace and privacy that they can provide. While you can certainly see and hear your neighbors from a single family home on a smaller lot, it’s generally less than the noise one might hear from a condo or townhome neighbor. Some of the benefits of a well-placed home include lots of light and views with windows in every direction, unlike a condo which may only have views in one or two directions. The outdoor spaces of single family homes are also a huge benefit when it comes to enjoying the beauty of this spectacular place.
Single family homes come at a cost, however- they are generally the most expensive option. Maintenance is another issue, whether it’s painting the exterior every few years, mowing the lawn, or shoveling the driveway every winter storm. Especially for second home owners, managing the maintenance of a home, even with a property manager, can be a factor that sways a buyer towards a condo or townhome.
Budget buyers will often choose a condominium purchase because condos often include the least expensive properties available as well as the lowest maintanence costs. That said, spectacular luxury condos also exist in buildings including but not limited to West Wall and the Lodge at Mountaineer Square. Frequently, condos in the Crested Butte area will contain amenities such as hot tubs, pools, and recreational facilities- great for visitors and homeowners alike. In many cases, condo HOA’s will cover much of the maintenance of the building exterior, making condos a good choice for care-free living.
There are downsides to condo living as well, however. Those same HOA’s (Homeowner Associations) may decide that upgrades are needed to the building or amenities. That can mean a big increase to the monthly HOA dues, or a special assessment that each homeowner needs to pay for. Also, condos may be noisy if the soundproofing isn’t up to par and there are units right on the other side of the walls and ceiling. Location in a condo building can be an important factor to consider when choosing a condo, with end units being the most sought-after.
Townhomes come in many varieties, so many in fact that generalizing them is difficult at best. Technically, a townhome owns the land as well as the living space, while condos share the land and only own the living space. Townhomes can include duplexes which may have nearly all of the pluses and minuses of a single family home, though often at a slightly lower price. Townhomes also include properties which may appear more similar to what people think of as condos. Eagle’s Nest, for instance, are technically townhomes although they appear the same as nearby condo complexes. Townhome buyers should investigate exactly what their responsibilities and benefits include, since the answers can vary widely.
In summary, buyers should be careful not to dismiss property types that may not seem ideal at first glance. A ground level end unit condominium may be perfect for a townhome buyer. Likewise, a well-designed duplex town house may feel just like a single family home. Finding the right space in the right location is, in the end, more important than the designation of the property.