Tuesday, April 24, 2012

Town Houses’ Boom: no maintenance fees


Living on a “PH” (similar to a town house) has its pros and cons. Nonetheless, during the last few years, they have become popular again, and the main reason is that they don’t involve paying maintenance fees every month.
But that is not all. The PHs, together with the duplexes, are seen as the possibility of having one's own house, without the need of investing huge amounts of money. Even though PHs can be more expensive than apartments, this will vary according to its size and location. Moreover, currently, new types of medium town houses are being built, so they can occupy less space, but at the same time, they are practical, functional and comfortable (and cheaper).
For this reason, due to the construction of these “smaller” PHs, many young families with kids or couples choose this type of house when buying. Even tough buildings now offer plenty of amenities which allow the owner or tenant to have a swimming pool, a garden, parking space, etc. they all make the maintenance fees more expensive and they means a big monthly sum to pay.
On the other hand, when living in a town house, you don’t need an administrator, a superintendent, maintenance fees, or other common expense. Should there be a common area according to law, the co-owners will have to collect the money and pay it all together. The difference with the apartment is that it is not a monthly expense. Moreover, the infrastructure of the PHs is not as big as the tall buildings with plenty of apartments, so there won’t be too many repairs to make (at least not all the time).
The architect Claudio Mazur, of “+UR Architecture” talked about the PHs' buyers and said that they are usually final consumers instead of investors. This type of consumers look for a reduction in their monthly expenses, and they also like having "their own sidewalk; enjoying a back yard; a garden; a barbecue; a terrace, and even a swimming pool; all this is considered by many as the realization of their dreamed life."
A new type of house is starting to go up in Buenos Aires, so, future buyers should analyze: House, apartment, or PHs (town houses)?