Buying a Townhouse in Seattle - Ultimate Guide

In a market where home prices are highest in recent history, choosing the perfect home is becoming difficult. Seattle is one of many top cities where home prices caused inventory shortages and exhausting bidding wars. But the silver lining is Seattle’s diverse housing stock. 

While single-family homes may be out of reach or simply not available in today’s housing market, condos and townhouses might be an excellent choice for aspiring homeowners. Both come at a more affordable price and are easier to maintain than a house. But townhomes are the way to go for homeowners who still want the feel of a home without some of the maintenance headaches. 

Below we put together a guide to help navigate Seattle townhouses, what they offer, and what to look out for when you’re ready to make a purchase.

What is a townhouse in Seattle?

A townhouse usually shares one or two walls with adjacent townhomes. It can still have a layout of a single-family home or multi-family home, but your neighbors will most likely be right next to you. 

Townhouses in the Seattle area have many modern features, and new constructions showcase green efficiency. It’s not uncommon to find stand-alone townhomes with open roof decks and smart home appliances, though such townhomes carry a hefty price tag.  

While townhouses are similar to condos in that they share space with other owners within a given community, the downside is that they lack amenities traditionally offered in luxury condo high rises. Unfortunately, that sometimes means no doorperson, shared gym, or concierge services. 

That doesn’t mean some townhomes don’t come with lavish bonuses of their own. For example, many luxury townhomes in top Seattle neighborhoods, such as Fremont and Queen Anne, offer everything from spacious outdoor patios to pools to roof decks. 

Townhouses combine the best of both worlds

Buying a house is considered one of the most significant purchases you could make in your life for a reason. It’s one of the biggest checks to make on the bucket list, and it provides you with the freedom to make your living space however you choose. But buying a home also means maintaining it, which is why many consider a condo. Condos are significantly cheaper, and the HOA takes care of maintenance, while you simply pay a monthly HOA fee.

Townhomes offer the best of both. They are large and spacious enough to feel like a house while still benefiting from the shared space owned by the townhouse community. The conveniences included depend on the community, but many offer trash disposal services, maintenance of outdoor space, and even a pool. But perhaps most importantly, they are also significantly cheaper than purchasing a house. 

Get pre-approved for a mortgage

The prices on a townhouse can be significantly cheaper than buying a single-family home, but that doesn’t mean you shouldn’t come prepared when you start searching. 

When you make an offer on a home in Seattle with a pre-approval, it immediately makes you stand out as a serious buyer. Most sellers will want to deal with buyers who they know are financially secure for the home purchase. That way there’s a smaller chance the deal will fall through mid-way. 

Get your pre-approval done early. That means getting all your documents in order, maintaining a high credit score, and making sure your budget is likely to be approved. It’s a timely procedure so start early. The real estate market is moving fast, and even the smallest advantage you can get when making an offer on a townhouse you like can go a long way.

Layout and features are paramount

The resale value of your townhome will depend a lot on the layout and what it has to offer. Because townhouses usually share a party wall with other townhomes, light and outdoor space become top commodities. Be on the lookout for floor plans that are as open as possible, which can help make the home feel more spacious.

Buying a stand-alone townhome would be ideal since no adjacent houses are taking away an entire wall or two, which means more windows to let in that precious Seattle sunshine.  

Never skip on due diligence

Unless you’re buying a new construction townhome, you should be as thorough as possible when inspecting before purchasing. Even if you’re buying directly from the developer who delivers a brand new property to you with all-new appliances and infrastructure, you should never skip out on proper due diligence. 

Although townhomes are similar to condos, they lack an HOA’s support when something needs fixing. These repairs can be costly and set you back thousands of dollars. A proper inspection can help identify anything out of place to make sure there are no surprises down the road. 

Know what you’re responsible for

Townhouses are similar to condos in that some maintenance responsibilities are shared between you and neighboring owners. It is easy to overlook exactly what those responsibilities are in the midst of paperwork and negotiations so make it a priority to read the title report of the townhouse you’re buying.

The report contains crucial information about the property’s history, and also outlines any CC&Rs and Joint Maintenance Agreements you might have with the neighboring townhouses. The JMA will let you know what you and your neighbors are allowed to do with any shared walls, or if you can make any changes to the shared outdoor space.

Make sure that you are satisfied with the shared responsibilities before moving forward with the transaction.

How to save on townhouses in Seattle

The real estate market is tough on aspiring homebuyers since the housing inventory shortage has led to historically high home prices. This means the budget you might have set aside for one of the biggest purchases of your lifetime might not be enough if you enter a bidding war and the seller receives competing offers. 

If you decide to make an aggressive offer and stretch your budget, it’s paramount to know how you can save on a potentially above-ask purchase price. Be sure to interview real estate agents that offer a home buyer rebate. A buyer rebate is a percentage of the buyer’s agent’s commission that is refunded directly to the buyer upon closing.

Prevu offers homebuyers a rebate of up to 1% of the purchase price. These savings can help put some home prices back on the radar since they help offset closing costs or provide a foundation for future renovations or repairs.  

Interested in buying a townhouse in Seattle? Browse listings and see how much you can save with Prevu’s Smart Buyer Rebate Program.