Winston Salem, NC Townhomes for Sale | realtor.com® (2024)

FAQs

How do you know if a townhouse is a good investment? ›

Pros of townhouse living include affordability, HOA and shared amenities, and close proximity to neighbors. Cons of townhouse living include less square footage, less freedom about your home's appearance, and less privacy.

Townhouses usually retain their value, but they may not appreciate as much as detached homes. That said, a townhouse is still a good investment, especially if you want to buy real estate without committing to high maintenance and utility costs.

Winston-Salem is a city in North Carolina with a population of 249,571. Winston-Salem is in Forsyth County and is one of the best places to live in North Carolina. Living in Winston-Salem offers residents a dense suburban feel and most residents own their homes. In Winston-Salem there are a lot of parks.

Analyzing the 4-3-2-1 Rule in Real Estate

This rule outlines the ideal financial outcomes for a rental property. It suggests that for every rental property, investors should aim for a minimum of 4 properties to achieve financial stability, 3 of those properties should be debt-free, generating consistent income.

Townhomes can have good resale value, particularly in high-demand areas or markets with limited space for new construction. Factors such as location, community amenities, the condition of the property, and market trends greatly influence their resale value.

However, town homes generally have thicker walls than apartments which can provide better soundproofing.

Similar to a single-family home, townhouses give you both living space and yard space often at a lower price. HOA fees also take care of yard work, exterior maintenance and other services that save you time, money and hassle.

Drawbacks Of Townhouses

Some of the cons of buying a townhome might include: Decreased privacy: With shared walls come extra noises that are outside of your control. In addition to this, you will have more people sharing a driveway or parking lot and generally in your home's space.

Townhouse pros

More space – Compared to a condo, townhomes can have more space, including more than one floor, a yard or garage. Similarities to a single-family home – If you like the idea of a single-family home but also the community aspects of owning a condo, a townhouse can offer the best of both.

Why are condos harder to sell? ›

Resale challenges

Condos can be difficult to resell because of the narrow pool of buyers interested in these properties. Families with multiple kids often want yards and some people may be turned off by the idea of living by someone else's rules. The costs associated with condo living also make the buyer pool smaller.

Appreciates in value while providing cash flow

A condo can provide cash flow, whether you rent it out or use it for Airbnb. While receiving this cash flow, the condo also appreciates in value over time, increasing your equity.

Winston-Salem is attracting individuals and families from different regions looking to relocate and start a new chapter of life. For many, the city offers an ideal lifestyle with its affordability, climate, economic opportunities, educational options, healthcare facilities, and Southern hospitality.

In real estate, this means that a property is only a good investment if it will generate at least 2% of the property's purchase price each month in cash flow. This 2% figure should be the baseline; if a property will generate more than 2% of the total monthly, it is definitely a good investment.

What numbers are best for pricing real estate? When it comes to the last digit of your home's listing price, choosing a 7, 8, or 9 can be a solid strategy for a variety of reasons — especially if you can match the numerals in your listing price to where you live.

One of the main benefits of row houses for investors is the potential for higher rental yields. With several units in close proximity, property management becomes more streamlined, and economies of scale can be achieved.

In general, condos appreciate in value at a slower rate than single-family homes. The median sales price of a condo was up nearly 6% year-over-year in January 2024, according to the National Association of Realtors. Median sales price of single-family homes was up 5% in the same timeframe.