It makes good financial sense for first time buyers to consider a town home as the first home they own.

As average home prices in Ontario increase the percentage of first time home buyers who financially qualify to purchase a detached home in good livable condition decreases leaving townhouses and condos as the feasible option for those who want to enter into home ownership.

On the plus side, a townhouse typically requires less maintenance cost and effort, less energy to run and taxes take a smaller chunk out of the wallet than a detached home of equal square footage. Be prepared to lay out a minimum of $50,000 more for a detached home as well.

Homes above the $300,000 mark in the current Barrie market are taking longer to sell and owners are experiencing a growing discrepancy between list price, and the eventual sale price. Townhouses on the other hand are continuing to increase in value and in demand.

Town home values should continue along this trend for some time and it’s a safe bet that a town home purchased in Barrie today will witness higher percentage value increases in each of the next few years than homes in the higher end of the price range in Barrie.

That equity gain puts you in better stead with lenders down the road when the time is right to trade up to a bigger home. Realizing the dream of being able to own and comfortably carry the perfect home is a more likely possibility for those who recognize the steps to get there.

Many who skip those steps find the dream short lived when they have left themselves no financial buffer zone to ride out economic fluctuation. The first step is to get into the market today at a price that doesn't put you in a financial strait jacket and let that investment move you closer to the home you really see yourself in.

Barrie has a large assortment of townhouse developments evenly situated throughout town.

If you want to learn more about Barrie Town homes and or receive updates on townhouses for sale in Barrie, give me a call I’d be glad to help you out.