« « What to Look for in Buying a PUD Part (3)

What to Look for in Buying a Twin Home?

A twin home is basically a duplex with each side owned separately, or two single-family homes connected by a common wall. Financing is the same as for a detached single-family home because the homeowner owns both the dwelling and the land.

You’ll find twin homes in PUDs, subdivisions, and occasionally duplexes converted into these kind of properties. They attract mostly first-time homebuyers and retirees scaling down. Developers build twin home projects when land costs are so high that the higher density is the only way to build a home that people can afford.

You’ll find these projects near newer single-family subdivisions as a way for the builder to satisfy federal or local housing regulations that require a certain number of affordable units be available in the area. Twin homes exist in both subdivisions like those with single-family homes with no HOAs and in PUD communities with strong, active HOAs.

If you are considering buying a twin that is not part of an HOA, extra caution is needed. For example, buying a well-maintained twin with great landscaping and then having a new owner who is a slob move in next to you will likely lower the value of your home. Andy and Pat found this out when they bought a twin home on a street with eighteen other twins sandwiched between two mid-priced subdivisions.

Leave a Reply

Your email address will not be published. Required fields are marked *

*