This week I have a video tour for your of a house I held open in Rancho Palos Verdes. It is listed at $1,099,000 and is a Single Family Residence (SFR) with 3 bedrooms and 2 and 1/2 bathrooms. The style of the house is very much like a townhouse as it shares a common wall with it’s neighbor and it also offers amenities with an HOA of $320/month.
Some people would argue that the main difference between a SFR and a townhouse is whether or not they share a common wall. However, 6529 Beachview Drive is a prime example that a SFR with a shared wall does exist. There are also detached townhouses that do not share a common wall. Every home is unique and there are different specs of ownership between SFR, townhouses, and condos. Some instances you will own the land in others you will not.
For this house in particular the owner of the house also owns the land of this property line. They have the liberty to change the landscaping of the front and back yard but with that comes the responsibility of maintaining them. With owning the land and the property listed as a SFR the property value is a little higher than comparable townhouses in the area.
My advice to buyers is to do your research and ask your realtor as many questions about the specific property you are interested in to know what all of your responsibilities of ownership will be as they will vary between SFR, townhouses, and condos.
Weber Accetta Weekly 