Do You Need Private Mortgage Insurance?

Do You Need Private Mortgage Insurance?

3 Reasons Buying a Townhome Is Ideal for a Young Family

by Luke Fields

If you're a young family looking for a place to call home, you might want to consider a townhome instead of a single-family home. When you're just beginning to grow your family, a townhome can give you the ability to be a homeowner without the high cost associated with single-family homes.

Along with a lower price, a townhome can offer you various benefits, making them an excellent option for a young family. 


Purchasing your first home can be challenging when you've recently paid for a wedding or the arrival of a child. With all the new expenses of starting a family, you may not have enough money left to buy a house. Townhomes are an excellent option for a young family on a budget, making the down payment and monthly mortgage much more manageable. 

Your homeowner's insurance may be lower for a townhome, reducing your monthly expenses. Homeownership doesn't need to be out of reach when you limit your search to townhomes for sale. 


A great benefit of buying a townhome is the likelihood of being located in an area with a lot to offer. Good schools, parks, and shopping options are generally much closer to townhomes than single-family homes. This gives you more options for your kids and can reduce commute times for you and your spouse. 

Checking out the location of different townhomes can lead you to a home in an ideal area for your family and lifestyle. Instead of being in a suburb where there isn't much going on, a townhome can provide easy access to entertainment, shopping, and essentials. 


A perk of living in a townhome is being part of a developed community. You'll likely be responsible for paying homeowner association dues that include maintenance of the exterior of the building. Even with this cost in mind, you'll get access to various amenities your family may enjoy. 

A swimming pool, playground, heated garage, and other amenities may be available in your community. This can add a lot to the quality of your home life and make raising kids a little easier. 

If you're eager to buy your first home but feel held back due to the cost, look into the many benefits of buying a townhome. Instead of focusing on the cons of buying a townhome, such as less space or a smaller backyard, consider the benefits of living in a townhome as you're starting a family. 

To find out more, look at townhomes for sale near you.


About Me

Do You Need Private Mortgage Insurance?

Welcome to my website. My name is Larry Silva, and I want to talk a bit about private mortgage insurance. You may have heard the term PMI mentioned when you were in the process of purchasing real estate. When I first heard my lender talking about PMI, I was very confused. It was my realtor who sat me down and explained what private mortgage insurance was and when someone is required to purchase it. He told me that PMI is not lifelong insurance; it can be cancelled when the mortgage principal balance reaches a certain point. Once it was explained to me, private mortgage insurance was no longer a mystery or a confusing concept. I would like to pass on what I learned and hope that you find it to be of value.