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somebody who likes to stay inside more and keep to your own schedule,
or who enjoys open spaces and large green yards, a development may not
be for you.
Are you comfortable being a landlord? Often, owning a townhouse in
a development means renting out an apartment. This entails sharing
close quarters (soundproofing has its limits!) and sometimes common
space with another family. You also need to be sure that you have the
temperament to collect rent from a potentially recalcitrant tenant and
take responsibility for maintenance and repairs.
Are you prepared for maintenance? In a private home, you will be
responsible for outdoor maintenance like shoveling snow and lawn care,
which is usually covered by the buyer’s association in a development.
Keep in mind that you will be paying an additional homeowner association
fee to cover maintenance of common areas.
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2020 Lakewood Home Buyer’s Guide | 55
