North and west of Manhattan, Woodcliff Lake, N.J., is an upscale, suburban haven for New York commuters. Less than 30 miles from the Big Apple, Woodcliff has an extremely low crime index relative to the New York metropolitan area. Yet, it’s close enough for residents to enjoy entertainment and recreation in the city.
A townhome for sale in Woodcliff Lake is a good investment option if you don’t want to pay the high cost of single-family homes. A townhome can offer privacy and more space than a condominium, but being informed about owning or renting a townhome is important.
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Woodcliff Lake Real Estate
A condominium and townhome differ in features and structure. Buying a townhome in Woodcliff Lake is a good option for you if you are looking for more privacy and space than a condominium can offer. You might also consider a townhome for sale in Woodcliff Lake because it is not as expensive as a single-family home. Townhomes can also provide better security than gated communities and single-family homes.
A townhome for sale in this area can be two to three stories high and range in size from 854 square feet to nearly 1,640 square feet.
Townhomes vs. Condominiums
The difference between a townhome and a condominium is that a condominium is one unit in a building with many units. You only own the interior of your condo, not the exterior. Condominiums tend to come with amenities such as swimming pools, fitness centers, parking garages and much more. Owning a townhome means you own the exterior of the townhome and the property it lies on. A townhome is attached to one or more other homes, which mean residents live next to you. However, you don’t have anyone residing above or below you. There are boundary lines that determine what property belongs to you or your neighbors. Townhomes can be set up in large communities made up of only townhomes or can be isolated in a setting of duplexes or triplexes. You can either rent or purchase a townhome in Woodcliff Lake.
Owning a Townhome
If you decide to purchase a townhome for sale in Woodcliff Lake, be aware of what comes along with a townhome. The moment you purchase a local townhome you become part of a homeowners’ association. As part of this association it is your responsibility to pay dues on a monthly basis. These dues typically cover the costs of maintaining the exterior landscape. If the townhome for sale features amenities such as a swimming pool or tennis court your dues will cover maintenance of these amenities. It is important to check out the dues and fees before purchasing a townhome for sale in the area.
Renting a Townhome
You have the option of renting a townhome as well. You can find a townhome with one bedroom and one bathroom for a rental price of $1,700 per month. A townhome with three bedrooms and 2.5 bathrooms can be rented for $4,250 per month.
A townhome for sale in this area is considered a combination of both a condominium and single-family home. Owning or renting a townhome will give you more privacy than residing in a condominium but won’t be as expensive as a single-family home. So make a smart investment in a townhome for sale in Woodcliff Lake.
By Angeliki Hristakos
A REALTOR® is a real estate professional who is a member of the National Association of REALTORS®