Here are all of the advantages and disadvantages of twin homes.
What is a twin home, and why would you want to buy one? Twin homes are similar in a lot of ways to duplexes. However, with duplexes, you own both sides of the building, and both sides share one lot. With twin homes, you own half of the building, and the lot is split in two. There are several advantages to owning twin homes:
- Twin homes are more affordable. They cost less than single-family detached homes, so it may be a cheaper option for first-time homebuyers.
- You pay less for heating. Since you only own three outward-facing walls, your heating costs will be lower.
- Twin homes are not taxed as high. The taxes are higher on single-family homes, so it may save you some money in the long run.
“Twin Homes can be a good investment, especially for first-time homebuyers.”
But there are a few disadvantages to owning twin homes:
- Your neighbor may be loud. A lot of twin homes today are built so that the shared wall is soundproof, which would prevent this issue, but this is something you should double-check before buying.
- Your neighbor may not keep up their yard. This is a definite con, but you could have a similar issue with single-family homes anyway.
- The value doesn’t increase as quickly. You won’t build equity as quickly as a single-family home, but since you will still build some equity, it can be a good investment for first-time homebuyers.
We encourage you to check out the twin homes in our community. There is a development on the south side of La Crosse called Waterview Subdivision. If you have questions about twin homes or anything else real estate-related, give us a call at 608-399-6180. We look forward to hearing from you.
