Why Own a Townhouse?

An Excerpt from Mondays with Dexter

Dear Friends,

What makes townhouses so special? Why are Manhattan brownstones still desirable after a century or more?
Here is the first in our series explaining the unique strength of Manhattan townhouses when compared to other types of real estate.
Townhouses Offer Independence
Most types of New York City residence are all tied up with red tape. Co-op owners often need board approval before performing even the simplest improvements to their property. Condos often have stringent regulations about pets, decoration, renovation, and more. The owner of the condo or co-op sometimes has minimal control over important decisions regarding their own living space.
Townhouse with double-height ceiling
Townhouse owners, on the other hand, enjoy freedom to renovate, improve, and configure a property in new and creative ways. Pending City and Landmarks regulations, townhouse owners can dream big and make their dreams a reality. Interior improvements are usually limited only by the townhouse owner’s imagination. Over the last 20-odd years, I have seen almost every conceivable townhouse layout. I’ve seen loft-like interiors with double-height ceilings and open staircases; I’ve also seen painstaking recreations of the 1890s, right down to the William Morris wallpaper. The common thread was the satisfaction the owners felt in creating exactly the living environment they had always wanted.
Most importantly, townhouse owners have the freedom to maximize their investment. The freedom to renovate means the freedom to increase the price per square foot, thereby growing one’s townhouse investment even faster than the general market.
Next time: The Romance of Townhouse Ownership

–Dexter Guerrieri

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