Park Circle is a beautiful North Charleston community with new townhomes popping up regularly, while gorgeous historic homes also hit the market on occasion. Are you considering purchasing a townhome or condo in the area? Arrive at your walk-through armed with these seven questions to ask when buying a townhome in Park Circle, and you’ll come away with much more clarity about your decision.
1. What Are the Homeowner’s Association Fees, and What Do They Cover?
Most townhomes in Park Circle are part of a Homeowners’ Association (HOA). The monthly fees for an HOA can range significantly, often averaging between $100 and $500 per month. This cost will affect your mortgage or monthly expenses, so it’s important to understand it upfront.
If the HOA fees seem a bit steep at first, remember that they may cover certain expenses you’d otherwise be responsible for. Ask your realtor what they cover; examples include:
- Roofing and siding repairs
- Lawn and landscaping maintenance
- Community amenities
- Reserve funds for unexpected exterior repairs
- Certain utilities
2. How Old Is the Property?
While Park Circle is home to several new townhome communities, the city has also done an admirable job preserving historic homes. Many of its homes date back as far as the late 1800s or early 1900s. Make sure to ask how old your property is.
If you are looking at an older townhome, ask when its major fixtures and systems were last updated, such as the:
- HVAC system
- Electrical work
- Plumbing
You’ll want to schedule an inspection before you purchase the property, whether it is a few years old or over 100. If the owner is selling “as is,” meaning they won’t make any changes regardless of what the inspection uncovers, take this into consideration.
3. What Parking Options Are Available?
Some Park Circle townhomes have attached garages, others have covered parking spaces available, and some rely on street parking. Ask about the parking availability for your unit, and consider how that might affect your experience living there.
For example, if you work from home or enjoy walking, you may not mind needing to park down the block. But if you have mobility issues or rely on garage space for storage, having an attached garage may be a requirement for you.
4. What Amenities Come With the Community?
One of the upsides of living in a community with an HOA is that it often comes with amenities you won’t receive in a standard neighborhood. Townhome communities sometimes include access to on-site:
- Pools
- Playgrounds
- Fitness facilities
- Nature preserves
- Hiking trails
If your community does not have these, you may instead receive a discount on nearby amenities.
If you currently pay for a membership to a pool or gym, consider how much money and time you’d save having free access to these within steps of your home.
5. Why Is the Previous Owner Selling?
One of the less common questions to ask when buying a townhome in Park Circle is: Why did the previous owner want to sell? For example, maybe they:
- Renovated the property to sell for profit
- Outgrew the property
- Moving to a different area
- Want more outdoor space
- Prefer more privacy from neighbors
They may not tell you any specific issues they had with the townhome, but their answer can still provide valuable insight.
6. How Much Privacy Is There?
Townhomes are often more affordable than standalone residences, but that affordability comes at the cost of privacy. You’ll be sharing walls with neighbors on at least one side, and you won’t have as much (or any) yard space compared to living in a single-family dwelling. Your balcony might face another unit, and you may need to enter a lobby to access your front door.
Many of these sacrifices are just par for the course when you live in a townhome, but the community might have taken certain measures to boost privacy elsewhere. Perhaps they:
- Use soundproof construction to limit noise between properties
- Enforce quiet hours
- Require gated access to the neighborhood
- Designed the neighborhood to maximize patio/balcony privacy
7. What Are the Property Taxes Like?
Property taxes are an oft-overlooked expense of buying a townhouse or any other property. These taxes will likely fluctuate throughout your residence, impacting your mortgage or monthly costs. Ask about the property tax history and what the current owner pays to better understand your anticipated costs.
Ask Troy Gandee Any Questions About Buying a Park Circle Property
Aside from these seven common questions to ask when buying a townhome in Park Circle, you might have specific questions swirling in your mind. Are there any rental restrictions? What is the flood zone status for the area? Can you have a pet?
I’m Troy Gandee, your trusted real estate agent and broker serving the greater Park Circle, North Charleston area. Give me a call today at (843) 817-4431, or fill out my contact form with any questions you have. I’d be happy to assist you throughout the home-buying or -selling process.
FAQs for Buying a Townhome in Park Circle
How Do You Know if a Townhouse Is a Good Investment?
A townhouse might be a good investment if it is in a desirable location, you have a plan to increase its value, and it matches current market trends. Buying townhomes to flip or rent out to tenants is a popular investment opportunity in the Park Circle area.
What Are the Downsides of Owning a Townhouse?
A few potential downsides of owning a townhouse are a lack of privacy, little outdoor space, HOA rules about decorations or pet ownership, and monthly HOA fees. These downsides matter more to some people than others. A townhouse might be a perfect fit for your needs despite these limitations.
Do All Townhouses Have an HOA?
Not all townhouses have an HOA, but most do. This is because most townhome communities include shared amenities that no single owner is responsible for. The HOA makes decisions about community issues, and the fees cover these shared conveniences. If you’re hesitant about the HOA, this is one of the questions to ask when buying a townhome in Park Circle.
