When you are looking for a townhome crowdfunding investment, Luxe Crowdfunding in Florida knows that it is critical to know the basics of what to consider, the benefits, and selecting the right community. As a real estate crowdfunding expert, we know the difficulties of selecting the right investment and we search for ideal communities with the kind of features that renters are drawn to and will ultimately lead to return for you.
Things to Consider with a Townhome Crowdfunding Investment
Townhomes can be a fantastic investment, but it’s important to consider all factors before diving in. One thing that may come up when you are trying to finance the home is that the lenders may have difficulty classifying the row houses. This is because they do not function in the same way as detached single family homes or as apartments. Because of this, many lenders can choose to treat townhomes in much the same way that they treat condominiums. What this translates into is that there are more restrictions and the mortgage itself may be more expensive. Of course, all of this can be avoided if you utilize a real estate crowdfunding platform such as Luxe Crowdfunding that does the difficult work for you and does not deal with finicky lenders.
Benefits of Townhome Communities
Townhome communities have many benefits including the fact that they are often cheaper to build than single-family homes and can be more centrally located. In fact, single-family homes in downtown areas are typically much more expensive than townhomes and therefore are less desirable than their more affordable counterparts.
Townhomes also typically carry HOA fees. Because of this, landlords do not take on as much responsibility as the HOA takes care of certain things that the landlord would typically be responsible for. Given that the maintenance is lower due to this, the investors are able to enjoy passive income from the townhomes.
Selecting the Right Townhome Community
Choosing the right townhome community to invest in means knowing who it is that will be renting the townhomes themselves. Many of those who rent townhomes are usually younger couples who are looking for a starter home. Alternatively, many older couples also seek out townhomes when they are ready to downsize. Because of this, you want to make sure that the features that you look for are suitable for both demographics.
Certain features will make or break a couple’s decision to rent a townhome. For instance, many renters prefer modern layouts and amenities. Even something as simple as an outdated alarm system could turn off renters. Additionally, many renters prefer hardwood flooring to carpeting.
Luxe Crowdfunding is a crowdfunding investment platform with properties in Chicago and Florida. Real estate crowdfunding is a growing field, and we can provide the expertise that you have been missing for your real estate investments. We make it easy to find the right investments and see real returns. To learn more about what we do, contact us at Luxe Crowdfunding today.