Patio Homes are an excellent option for homeowners who like the lock-and-leave concept and prefer a small yard and shade, combined with minimal maintenance.
There are many different types of patio homes in the tempe, Scottsdale and Phoenix areas. Patio homes can be attached or detached, in rare cases. They can be called condominiums, townhomes, twin/gemini homes - there is no strict definition of what a patio home is.
Patio homes are almost always part of a homeowners' association. The homeowners association collects monthly assessments which are used for a variety of services provided to the homeowners, such as maintenance of common areas, garbage collection, water, bare-walls insurance policy, to name just a few.
If you are considering a patio home purchase, you can find HOA fees information under the section "Association Fee incl." in the MLS data sheet (this is how it looks):
Keep in mind that it is always a good idea to double check with the community HOA Property Disclosure and the CC&Rs about what is included and what is not.
Another important difference with patio homes is how they will be treated from a lending standpoint. Depending on the property's legal description, a patio home may be treated as a Single Family property or as a Condominuim. the former usually have an address with an individual street number while the latter have one street number for all units with an individual unit number. For e.g.:
3818 N 30th St. - 3828 N 30th St - Patio Homes with legal description as Single Family Property
1222 W Baseline Rd. Unit 121; 1222 W Baseline Rd. Unit 122 - Patio Homes as Condominiums
If the property is considered a Condominium, then your lender can quickly confirm whether or not FHA financing is available on the home. All project financing statuses can be found on the www.hud.gov website, however your Lender and Realtor® advice will be indispensable before making an offer.
Patio homes may have a different number of patios - one, two or three. Isn't it great to have your own patio and extra privacy, if you are in a room-mate situation?
One reason I love patio homes is for their efficient floor plan designs. Many times I have admired how a 900-square feet patio homes feel more spacious, functional and open than a 1,500-square feet home with not so great floor plan.
The design and configuration of the Patio Home Complex itself is also an important consideration. Some well-designed complexes have the same spacious feel as the floor plans I just mentioned above - parking, whether in a car-part or in a garage, is easy, and even though it is higher density land use, the complex does not feel cramped or tight. In some complexes the patio gates lead to a private gated park and to a walkway to the community pool.
Who likes to buy patio homes? Everybody. However, I think that the following buyers find them especially convenient and appealing to their specific circumstances:
• parents of University students - they can be Landlords to a very familiar Tenant, their children and their children's friends. Children can pay rent to their parents during the time of their studies, rent to room-mates the extra rooms, and at teh end of teh studies parents can sell the patio home and hopefully recoup some of the college room and board expenses.
• snowbirds as their second home in Arizona's warm and inviting climate between October and April
• single parent families - life events happen, and sometimes it is just easier to have a HOA assist with the home maintenance.
• retired couples who do not necessarily prefer to be in a designated adult community.
How can I find patio homes? They are fairly easily searchable on Realtor® websites. If you visit my website, I would suggest that for your initial search to select all options: condominiums, townhomes, twin/gemini or patio homes. An experienced Realtor® will have a deeper knowledge of the non-searchable features such as number of patios, floor plans, HOA specifics etc.
I enjoy selling and showing patio homes, and if you are looking for one, I would love to hear from you. Please call me at 480-966-9353.
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