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Updated over 5 years ago on . Most recent reply

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18
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3
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Kate Batals
3
Votes |
18
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Should I invest in a Townhome or Duplex?

Kate Batals
Posted

Hi, I have been looking at Salt Lake City and the Lehi markets for awhile now, and I wanted to get some insighter perspectives on whether investing in a townhome is a good investment or would a duplex be a better investment in these areas? I am just trying to do my research on what the first time home owner is interesting in buying and what the renters there are more willing to rent. I know townhomes usually have an HOA attached to them and they are more affordable for the first time buyer. Also I noticed it is hard to find a good deal on multifamilies in these markets. I am looking for high quality tenants and an area that attracts good businesses and developmental growth. I want to invest in an area that will become desirable or is already desirable (has good school districts, low on crime). I will appreciate any advice as well as property manager and real estate agent recommendations. Thank you!

Most Popular Reply

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219
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Cherie Orellana
  • Salt Lake City, UT
182
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219
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Cherie Orellana
  • Salt Lake City, UT
Replied

Sounds like you have a great overall plan. Townhomes are projected to increase annually a few % more than single family or multi family. However you have a good point about the HOA. Often an HOA only allows a certain percentage of the community to be rentals. Typically I see about 20%. I would not choose any of the options based on projected increase in value. I would watch all of the options (townhome or condo, multi unit, single family) and choose the one that you come accross that has the most cashflow and potential forced appreciation or immediate equity overall.

  • Cherie Orellana

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