Saint Paul, MN · Member since 2016 · 37 posts · 11 votes
Greetings fellow bigger pockets members. I am currently in the process of buying my first property which will be a house hack. I am looking for a place in the minneapolis mn area. Focused on the south metro seeing as I work in apple valley. Have been looking at properties for a while now and have come across a few twin homes here and there that are priced quite well compared to some single family homes and town homes. Just wondering peoples opinions on twin homes compared to single family and town homes. I know you do share a wall like a town home but do not have association fees. Also how about exterior maintenance? Do the two owners split that or how does that work? Are they harder to sell? Just looking for some outside input in regards to twin homes and the pros and cons.
By twin home do you mean 2 units that are connected by a wall? Like a duplex where you own your side?
I think those usually have a party wall agreement, not an HOA or anything like that. Here in Denver, they are being built with completely separate roofs, landscaping, garages, etc., so that might be something to look for.
Are you going to rent out rooms to house hack it then?
@Billie Miller They are connected with a adjoining wall. But it is one side of the 2. Not a duplex as far as I understand. Both are purchased separately. Yeah they both have separate roofs and garages, yes I plan to get a 3 bedroom and live in one room while I rent out the other two to friends.
Hi @Alex Winder In Silicon Valley many of the cities have large numbers of townhomes being built. They typically share at least one wall and have an HOA. When we've had the rare one for sale which doesn't have an HOA, people are very interested. They sell for less than a single family home but they sell better than a townhome with an HOA.
If the home fits into the neighborhood and is well maintained, it could be a desirable property.
That has been my thought, the feel of an association without the association fees. Plus you can do exterior wok without being told what you can and can't do with an association. I think they are a good option considering I am a first time home buyer.
The only issue with these is if you need to redo siding, roof or other common/shared items, you and your neighbor have to agree on paying for it and coming up with the money. This is where the problems come in and why these are priced lower than a typical townhome or SFH. I would steer clear unless you are able to purchase both sides so you have complete control of the property.
@Alex Winder Sometimes they do have a small HOA, for example when there are two sets of twin homes right next to each other. The HOA would just do snow and lawn. Typically as far as exterior is concerned and snow/lawn if there is not HOA the owner just does his half. They are a good fit for a lot of first time home buyers and as a rental for sure since the price is a bit lower and HOA is low or no.