One Level Shakopee MN Townhomes For Sale

The Shakopee real estate market has built up quite an inventory of Shakopee townhomes for sale. Shakopee MN townhomes main consist of multi level townhomes with a limited amount of one level townhomes. If you take a look at the Shakopee townhomes that have one level starting on the west side of town by Tahpah Park you have in my opinion one of the best Shakopee townhome developments, Stone Meadow.

Stone Meadows Townhomes in Shakopee

One Level Shakopee MN townhomes for saleThe Stone Meadow one level townhomes in Shakopee consist of what I would say about 100-120 townhomes. Most are slab on grade, but about 20 or so have basements are those tend to rarely come on the market. I do know of one person that would consider selling, but just does not want to list their Shakopee townhome at this time. If you are interested, give me a call and we can set up what is called a “one time showing contract” The Stone Meadow townhomes with basements also include everything on the main level and all townhomes in this development are handicap accessible. That includes doorways, bathrooms and not even one stair on the outside as I know this can be hard for those in a wheelchair. This development is run so well and recently all the townhomes had their roofs replaced off an insurance claim. Originally these townhomes were built by Pulte Homes which has now merged with Centex Homes. There are three floor plans in this development, all two bedroom 2 bathroom townhomes units with the exception of the Shakopee townhomes with basements. size generally ranges from 1300-1600 sqft est and the townhomes with basements can push 3000 sqft. You do not have anyone behind you in any of these units, just neighbors on each side. Each unit also has a nice sized patio.

One Level Townhomes With Assistance

Just to the North of the Stone Meadows neighborhood there is a little Shakopee MN  development where a little farm used to be and across the street from a church. There are only about 30-40 townhomes in this development and a few different floor plans pretty open, but the bedrooms can get a little more tight in these units. There are no basements in these units and the size is usually 1300-1400 sqft with 2 bedrooms and two bathrooms.

Link Built Shakopee Townhomes With Basements

Just off of highway 169 and Marystown Road is a development by a good quality Shakopee builder, Link Construction. With only one street, Quincy Circle lays about 24 Shakopee twinhomes. The one level Shakopee twinhomes are quality in and out and ranks as some of the best built Shakopee townhomes out there. Stucco exteriors, concrete driveways, Anderson windows and custom cabinets set these apart. Although some insides are similar, Link allowed many builder more of a custom experience and owners were able to make there more of there own. You do not have anyone behind you in these units, just neighbors on each side Most of these Shakopee twinhomes do have basements and with that finished top out around 3200 sqft.

Golf Course Town Homes in Shakopee

Stonebrooke golf course in Shakopee also has some nice one level townhomes which do not come n the market very often either. It has been years since I have seen one pop on. You do not have anyone behind you in these units, just neighbors on each side.

Affordable Town houses in Shakopee

Countryside a Town and Country development of 500+ townhomes, mostly multi level townhomes for sale has a few different level level floor plans, however in this case you may either be on the entire top level or the entire lower level. In both case not only are you connected to your neighbor(s) on the side, but you would also have someone living above you or below you. These are probably the most cost efficient Shakopee one level townhomes for sale and there always tends to be a few to look at. Some offer only a one car garage, but others offer a two car garage. Sqft is usually in the 1000 sqft range and  the townhomes typically have two bedrooms and two bathrooms. The Countryside neighborhood is located just to the west of Marschall Rd off of 17th Avenue and extends to Spencer. Right now you could probably pick up a Shakopee townhome in like this for under 100k.

Not Quite One Level Townhomes, but Close

If head a bit further down 17th Ave and turn on Dublin just after the Target there is a development of Shakopee townhomes for sale built by MW Johnson. These townhowns are a bit quirky as they are not true one level townhomes. You would have only one of two steps in between the kitchen/dining area and the family room. There is a bedroom, bathroom and laundry all on those two levels, but the “real” master bedroom is upstairs along with another bedroom and bathroom. The middle units are no different than the end units, the end units just have an extra window. I like the layout of these though as they remind me a lot of a single family home. You do not have anyone behind you in these units, just neighbors on each side.

Gene Jergens Built One Level Shakopee MN Townhouses

Along Vierling Drive in Shakopee are a long row of one level townhomes that were built by Gene Jergens. These are great one level Shakopee townhomes, however the biggest downside is that they back up to highway 169. Most are 2 bedrooms and 2 bathrooms and currently only one is listed in the upper 150’s.

That about does it for all Shakopee one level townhomes all Shakopee townhomes for sale South of 10th Street. Now moving to the North side of 10th a few more quality townhomes surface.

One Level Walkout Townhomes With Basements

Gene Jergens, a quality Shakopee builder has built quite a few Shakopee townhomes and twinhomes off of Eastway, Woodland Trail, Woodland Ct etc and like the Link Construction townhomes on Quincy these are all stucco and all have custom materials inside. Gene Jergens definitely knows how to build a house well. These Shakopee townhomes are located near Canterbury Park in Shakopee, but some have nice park like settings in the backyard and many a walkout units with finished basement. I think these are some of the nicer one level townhomes in Shakopee, but on the more expensive side

Near the old Pearson Elementary school there are a few Shakopee one level twinhomes, however unless altered these twinhomes do not have laundry on the main level. They were built in the 80’s and again are more like a single family home. The positive is there are no assn dues so your payments can so LOW. Street like Eastway have these Shakopee townhoems for sale and typically they are selling around the 95-125k price range.

Detached Townhomes By Lowes in Shakopee

Moving Eastward toward Lowes area set of unique Shakopee townhomes as they are detached. These Shakopee townhoems were built by Ryland homes around 2005-2008ish and feature basements. One unique features to these townhomes is that you belong to an assn that has an included pool in the dues. Enjoy those three-four months of sunshine we get!

Laurent Townhomes in Shakopee MN Off Vierling Drive

Laurnet built a small number of townhome in Shakopee, all of which are somewhat plain on the outside, but nice on the inside. They offer a good amount of sqft for the price and have basements which are a huge plus. I am not aware of any with walkout basements.

I may potentially missed a few developments and some intentianally as there as so few Shakopee townhomes that they are not worth bring up in detail. Scattered throughout town there are many one level Shakopee townhomes or twinhomes in which they might be sandwiched in a single family neighborhood. I know there was one on Hennes recently for sale as well as some that sold on Austin Ct.

Local Shakopee Real Estate Agent

Being one of the local Shakopee real estate agents in town, I do know a lot about the area. I grew up in Shakopee and currently reside here. My mother  lived in the Stone Meadow Townhome development and I have gotten to know many of the neighbors there. Hope you found this blog helpful and contact me if I may be of any assistance. Call me at 612-384-2178 for detailed information.

 

 

 

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Conventional or FHA Loans, Which is Best For You?

If you are thinking of purchaing a home with the next twelve months, consider talking with a loan officer prior to your home search to make sure you know how much you can afford and where you are comfortable with monthly payments. Craig Anderson of Rivercity Mortagage provided me with this helpful insight on loan programs and comparing FHA and Conventional loans.

FHA is increasing it’s monthly mortgage insurance premiums in April so it is time to compare both mortgages to see what works for your own situation.

Determining factors

Credit.  If you have a good credit score (ideally over 740), a conventional loan may make more sense than an FHA loan due to the fact that the monthly mortgage insurance premium will probably be lower than FHAs.  If your credit score is under 700, especially under 660, it will probably make more sense to go with an FHA loan as both the mortgage rate and availability of mortgage insurance for the conventional option will make the FHA option more affordable. 

Income. For a conventional loan, the limit on debt to income ratios is 45% and ideally 41%.  For an FHA loan, you can have higher debt to income ratios – usually a maximum of 50%.  Both options are going to require that the income be deemed stable and likely to continue.

Down payment and reserves. A conventionally insured loan will allow for a slightly smaller down payment, but is going to typically require that the borrower have at least two months worth of housing payments in reserves after closing.  An FHA loan will allow for a higher percentage of contribution from the seller to help pay the borrower’s closing costs and pre-paid items which may come into play on a smaller purchase price.

Interest Rate. The interest rate on FHA loans tends to be lower than that of a conventional loan, however FHA requires that the borrower pay a 1% funding fee that can be financed into the mortgage.  Often this addition to the loan amount will offset the monthly savings that the lower interest rate produces. 

If you know you have good credit and you have the ability to make a down payment of at least 5%, you may want to ask your loan officer about using a conventional mortgage instead of FHA. 

To contact Craig Anderson you can reach him at the office 952-908-3420 or on his cell phone 612-964-6620. Otherwise you can email him with questions or to get preapproved canderson@RiverCityMortgage.com

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Are you PreApproved or Pre Qualified?

There is a huge difference between being pre qualified or being pre approved. There is a lot of confusion I hear from buyer so I would like to take a moment to clarify.

If you are just starting your Shakopee home search you may have been told by friends or your Realtor to first talk to a loan officer. Discussing your options with a loan office before you begin to look for a new home should be one of your first priorities. Many mistakes buyers, especially first time buyers make is looking too early and then either looking at too high of a price range, too low of a price range or unfortunately they may not even qualify to buy at all for the time being. I recommend to clients to sit down with a good local Shakopee loan officer with a reputable company. If you can, try to meet them in person rather than doing everything over the phone.  I think talking to the loan officer leads you into more questions you may have than if  it were just a phone conversation. I also think you can read the loan officer a bit better to see your level of comfortability.

PREQUALIFICATION

I hate hearing from buyers when they tell me their loan officer should have them approved within the next few weeks. A good loan officer should be able to give you some general numbers the same day or at least within 24-48  hours max. Loan Officers also should be able to be pretty accurate pending the information you give them is current. Getting pre qualified is one of the first steps in the home buying process. It’s easy, quick and painless. Typically the loan officer in Shakopee will ask for your income and ask about any debts you may have. After evaluating this information, the loan officer can give you an idea of the mortgage amount and monthly payment for which you qualify.

During your first meeting with the loan officer, they are going to gauge where you are also comfortable with payments. Make sure you stick to those numbers! A loan officer may tell you to qualify for a $1,000,000 home, but if you would like your payments to be $1,500…not going to happen, unless you have a gigantic down payment. They also may discuss various mortgage options and recommend the type of mortgage that might be best fit your situation.For example comparing a 5% conventional loan to a FHA loan or a 203k loan.

Remember, the loan officer has not pulled credit at this point and based their analysis only on the information you provided to them. Being told you are pre-qualified is not a sure thing the underwriters with give you a loan, it just give you a basis to start your search. For this reason, a pre-qualified buyer doesn’t carry the same weight as a pre-approved buyer who has been more thoroughly investigated and through the underwriting process. This is not a commitment to lend a buyer money.

PREAPPROVAL

Now obtaining a pre approval letter carries more weight and gives you more negotiating power and will put you in a better position as a buyer. Realtors feel much more comfortable presenting an offer if it has solid backing from a good loan officer and bank. I have seen lately even if you do have a pre approval letter from a bank, foreclosed homes are requesting buyers to get an approval letter also from their requested bank. Don’t be alarmed, you do not need to commit to them or anything, but they have seen a lot of transactions fall apart over the course of the past few years and are trying to protect their interests.

Pre Approval letters typically state the terms, loan amount and address, but do not need to include everything. Again some banks will request exactly what they prefer to be on the approval letter on occasion.

Getting pre approved involves completing a mortgage application, many companies have this online. From that point lenders need to get a hold of W-2’s and bank statements. One of the most important steps to the process is pulling your credit report. Many institutions now highly regard credit scores and tie that score to your interest rates more than ever. Insurance companies and even employers now lok at scores. It used to be if you had a pulse, you could buy a home and I am SO happy those days are gone. Not everyone is financially responible to buy a home. I have seen many hardships where I truely sypathize with the owner, but I have also seen many more where they are doing a short sale or geting foreclosured and it’s flat screen after flat screen, new cars isitting in the driveway because their garage is full with the boat, motorcycle, snowmobile and fourwheeler….sell your stuff! Okay, I went on a tangent and off course there, sorry. Again, take this as a reminder to stick to your budget and don’t get carried away with purchasing a home. Buying a home can be a very emotional experience so make sure you are also making a sounds financial and logical one as well. The biggest reason credit scores ar so important is because it can dicate who will lend to you, what programs you qualify for and what your interest rate and some fees may be.

Once the application process is complete you will receive a pre-approval letter indicating the amount your lender is willing to lend you for your home. Although a pre-approval letter lets you, the Realtors invloved and the seller know you are a solid purchasor,  it is subject to the appraisal of the home and often cases other conditions pending case by case. Getting pre-approved for a mortgage also enables you to move quickly when you find the perfect place.

If your financial situation changes for some reason such a job loss your Realtor should be able to protect you per the financing addendum of the real estate contract, or if interest rates rise. I

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Attorney Help for a Shakopee Short Sale

Thinking of doing a Short Sale in Shakopee? I bet your first thought is to talk to an expereinced short sale realtor in the Shakopee area. We are seeing more and more short sale homes in Shakopee, MN, but not many real estate agent know they should not be doing some negotiations as they are actually practicing law and not real estate.

A Realtors job is to market and sell your home, then negotiate the sale between you, the seller, and the buyer. It is not their job to negotiate terms of forgiven debt between you and the bank or lenders involved.

WHAT DOES AN ATTORNEY DO FOR A SHORT SALE IN SHAKOPEE?

  • Consult with the seller regarding legal issues of doing a short sale.
  • Order title work on the home as soon as the seller signs a retainer agreement.
  • Review title work to make sure the transaction can close if the short sale is appoved by the bank(s).
  • Advise the Shakopee Realtor as to any title issues preventing a timely closing.
  • Collect all financial documents from the seller and real estate agent necessary for short sale review by the bank(s).
  • Prepare a preliminary HUD (closing cost estimate) statement for the lender
  • Submit the short sale proposal to the bank(s)
  • Keep the listing agent up to date as to progress with the bank(s)
  • Negotiate short sale offer with banks, terms and costs for the short sale approval.
  • Provide all documentation to government agencies or authorities to obtain tax lein releases when necessary to clear title for the short sale.
  • Review terms of the short sale approval letter and consult with the seller.
  • Provide all documents necessary for closing to seller, Realtor and title company.

I have started working with a law firm in Minnesota on my Shakopee short sale listings and in many cases there is no cost to the seller doing the short sale if they have a hardship. The law firm I work with do provide my client a FREE consultation which I highly recommend so they know thier options and potential benefits and/or consquences of doing a short sale in Shakopee.

BENEFITS TO A SHAKOPEE SHORT SALE SELLER

  • Initial meeting with an attorney at no cost
  • Max cost to seller of $995 (strategic short sales), but as low as $0 for sellers with hardships
  • Referrals to tax specialists or bankruptcy attorney when applicable
  • Legal counseling regarding financial information provided to the lender
  • Updates throughout the short sale process
  • Negotiations.Having the bank hear from an attorney can be more authoritative.
  • Legal guidance regarding financial terms of the short sale.
  • Advise on potential occurances that could arise after closing

If you are curious if you qualify for a short sale in Shakopee because of a hardship you may have endured such as job loss, divorce, job transfer feel free to call Tom Scott of Re/Max Advantage Plus in Shakopee at 612-384-2178 or TomScott@Remax.net.

Seller Paid Closing Costs

Seller paid closing costs or seller paid loan costs as often termed, are simply that; closing costs that the seller pays. Although the seller has their own closing costs, the largest of those paying a real estate fee, the seller may often be willing to pay in full, or partially contribute to paying the buyers fees as well.

HOW MUCH ARE TYPICAL CLOSING COSTS FEES?

Closing costs fees range, maximum limits are generally 3% on conventional loans and up to 6% of FHA loans. Most FHA buyers I work with generally ask for 3.5-4.5% of the sales price for their closing costs and that generally covers everything. With that FHA up front mortgage insurance premieums are included in the loan amount as they can not be paid by the seller.

WHY WOULD THE SELLER PAY BUYER FEES?

This is probably one of the most fielded questions I receive from sellers irronically, not buyers. It does take a little explaining, but in most cases the seller does agree some instances may require contribution. Given the target market of your buyer, many buyers may need the costs paid by the seller. If you have a first time buyer scrambling to come up with their downpayment to equal the minimum down of 3.5%, any extra costs associated potentially could make it so they do not have their downpayment. Any buyer can ask for costs no matter if you are trying to come up with your 3.5% down payment, 5%, 10% or even if you are tyring to get to 20% down in order to avoid mortgage insurance.

When a buyer makes an offer on a home, the Realtor will do a net sheet so that the seller knows what their final check at closing will be, or in today’s market sometime how much money they will need to bring to closing. This is a general estimate based on title fees, real estate fees, state and county fees, and pending all payoffs the seller has for any mortgages, tax leins or judgements. If the seller is going to pay for the buyers closing costs this will be looked at on the net sheet and accounted for. If the seller is presented with two offers at the same time, a buyer may want to go above list price of the home if they are going to include closing costs. An example below depicts two offers and although the offer price of Option B is lower, the net price when closing costs are included still is higher and the seller would potentially lean toward that offer.

Option A
Sales Price $150,000
Buyer’s Closing Costs Paid $5,000
Net to Seller $145,000

Option B
Sales Price $148,000
Buyer’s Closing Costs Paid $0
Net to Seller $148,000

WILL BANKS & MN SHORT SALE LISTINGS PAY BUYER FEES?

Buyers almost assume ANY seller will pay all their fees when in fact some banks will limit the closing costs paid to 3-3.5% of the sales price. I have not had any issues with a bank not willing to pay at least some costs.

Remember, Ultimaltely YOU Are Paying The Costs!

They are called seller paid loan costs, however they are essentially rolled into your mortgage or financed over the term of the loan. I tell my buyers when negotiating that it is nice to have the seller pay the loan costs, but that is money they are paying when it comes time to sell a home.

Remember, if you purchased a home for $200,000 and the seller paid $7,000 in seller paid loan costs, they probably woud have taken a similar offer at $193,000 with NO loan costs being paid by the seller. When you go to resell, those “seller paid loan costs” magically reappear and hurt your bottom line, not to mention the extra interest you paid over the course of time you lived in the home. For example, with a 6% interest rate, if you lived in your home for 5 years and financed $7,000 of loan costs, your payments would be around $35 more per month X 60 months. That would total $2,100! Makes you think if there is a way to come up paying your own closing cost, TRY.

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Shakopee Short Sale Help

CERTIFIED DISTRESSED PROPERTY EXPERT (CDPE) and SHORT SALE FORECLOSURE SPECIALIST (SSFS)

One needs a thorough understanding of complex issues in today’s Shakopee real estatemarekt and the knowledge of foreclosure avoidance options available to homeowners. Being a CDPE has provided me and my clients a solutions for homeowners facing market hardships primarily short sales.

Homeowners regularly proceed without guidance of any kind through the often financially and emotionally devastating prospect of foreclosure. Setting up an appointment with a well-informed, licensed Shakopee real estate agent is the best course of action for a homeowner in distress.

There are thousands of licensed Realtors in the state of Minnesota and many Shakopee Realtors, but few decided to focus their efforts in helping those in need of assistance to avoid foreclosure. Through comprehensive training and experience, CDPEs have the tools to help homeowners find the best solutions for their unique situations and to avoid foreclosure through the efficient execution of a short sale.

Living through financial difficulties poses a challenge for any family, so why make the process of finding a qualified real estate professional difficult too? Select an agent with the CDPE Designation or Short Sale Foreclosure Specialist to ensure you have a trained professional to address your specific needs.

I have also teamed with an attorney to help answer any questions one may have tht goes beyond my real estate expertise.

Do I Need a Shakopee Realtor to Buy a Home?

Simple answer NO.

Surprised a Realtor told you that you do NOT need their services? I know this may seem odd and a bit confusing a real estate agent in Shakopee said you may not need a Shakopee realtor, but you as a buyer do have a choice to use someone or not.

Obviously I as a Shakopee realtor I do find it advantagous to use a real estate agent, but I do so for the following reasons:

1) Commission is Paid by the Seller. Typically the majority of the real estate commission is paid by the seller. In the state of Minnesota often times the total commission is split between both Realtors. Typically 55% of the total real estate commission going to the Realtor who has the home listed, and then 45% of the total real estate commission going to the Realtor who represents the buyer. Often the only real estate commission that is paid by the buyer is a broker administrative commission. That commission is part of the closing costs and generally around $375. It is a fee you can have the seller pay as part of seller paid loan costs.

2) Market Knowledge. I beleive if you select a good real estate agent they will have the knowledge of the area. I see this often with buyers and sellers. You can tell when a Realtor who is not familiar with the Shakopee real estate market. They come in  price homes incridibly high and those homes will sit on the market. Make sure when you have a free market analysis the agent does not just give you a price you want to hear, but backs that price up with homes that have sold recently,within the last 4 months. That also goes if you think they are pricing the home low, make them show you the comparable sales. A Shakopee realtor should be able to give you a value within 24 hours and may not even need to go to your home to give you a ballpark idea on price if they know the area well enough.

3) Contracts, contracts, contracts. No, a real estate contract is not the hardest document to disect, but having a Realtor who knows how to structure the contract to present your offer in the best light can be very helpful. Knowing the contingencies, how they are structured, timelines, how to negotie them can be very valuable.

4) Negotiations. I think many Realtors try to play the we offer A, you counter with C, and then we will meet in the middle at B. All negotiations do not have to go this way, otherwise you could easier do it yourself.  One reason in my opinion to have a Realtor is to take out the emotion of  buying a Shakopee home. Sure buying a house is one of the biggest decisin you can make and emtions run high, especially in multiple offers. We are seeing many mutltiple offer senarios with bank owned homes in Shakopee and knowing what banks are looking for and how to structure your offer can be crucial. I just heard of one accepted offer an agent in our office had that was only $200 higher than the offer that was accepted. Really $200? That was the difference between getting a home that sold over $125,000 more only a few years ago! Make sure you have a real estate agent in Shakopee who can structure your offer optimally.

5) Prelist Inventory. I can literally find out information on hundreds of homes for sale in Shakopee with networking with agents in my local office. Re/Max Advantage Plus is one of the top listing brokers in the state for bank owned homes.

6) Do You Want Representation? In my opinion this is the biggest reason to hire your own Shakopee Realtor. If you are going from open house to open house or call the agent on the signs, those agent represent the best interests of the seller. That’s right; those agent priming you for data are representing the seller and will use that infomation against you if you are trying to negotiate on the home they are standing in. If they ultimaely decide to represent you too, then you are in a dual agency representation senario in which the realtor almost needs to stay neutral.

Hopefully you found this information helpful and if you want any information on a Shakopee Realtor, I do not require my clients to sign buyer contracts with me until you are either comfortable or we eventually write an offer. I look at the process as I would, and if I were to buy a home I would not sign anything with anyone until i knew how they worked and if I knew they were going to do a great job.

Why Active Shakopee Homes Are Sold

Do you wonder why homes in Shakopee that are sold show up on many real estate agents websites?

There can be many reasons a home in Shakopee can show up this way. A few reasons are homes are sold subject to an inspection, sold subject to another home selling, or the most likely reason in todays Shakopee real estate market, sold subject to third party approval. Shakopee realtors are able to still show these homes as active because technically they could accept another offer, although that offer would be subject to a cancellation of the first offer.

The first two reasons are pretty obvious as to why a home in Shakopee is sold, but the third can be a bit more complicated. Houses in Shakopee sold subject to third party approval are essentially a short sale. They are homes that need bank approval because the owners mortgages total more than the home is worth. Still this really does not answer the question. To answer the question, Shakopee bank owned homes are getting smarter,hold your laughter because we all know that entertains us a little, but they really are. Often times a real estate agent is pressured by the bank to keep the home marketed so the bank feels they truly did receive the highest price for the home.

If you feel a little lucky and think you may have found “The One” Shakopee home out there for you, feel free to submit a back up offer, sometime banks do reject all short sale offers and yours could be net in line.

STOP before you buy a MN townhome!!!!

Don’t panic!!! MN townhomes can be great, I lived in one for five years and loved it. With almost 10 years of experience now and seeing a more depressed real estate market than in the past, competition is tough. The Shakopee Real Estate market has a large inventory of quality townhomes ripe for the picking. I walked into one MN townhome last week that was PERFECT for $95,000, built in 2006!!! Now most first time buyers tend to lean towards townhomes rather than single family for a few reasons. 1) they don’t want to do yard work 2) they don’t want to buy everything to do yardwork 3) pricing typically is lower 4) you generally can buy a newer townhomes without needed repairs.

In the aggressive market we are in with so much more buying power than in the past, I now advise clients when looking at MN townhomes to try to look for four things 1) two car garage 2) At least three bedrooms, ideally also with an additional loft space 3) at least three bathrooms. 4) basement There are many reason for looking

Private Master Bathroom

When looking at townhomes in MN, having a private bathroom may be nice for privacy, living and for resale. Townhomes in MN typically have two bathrooms, a half bath on the main level of the home and then  full bathroom shared with the bedrooms on the upper level. Usually the only exception I see to this is with many one level townhomes in Minnesota where I will usually see a full bath bath in either the master or somewhere else on the main level and then also a 3/4 bath as the reciprocal. I think finding

Three Bedrooms and an Additional Loft

I like to try and find townhomes in MN with three bedrooms for a few reasons. I see a lot of buyers grow out of townhomes a lot quicker than the anticipate, and having a third bedroom buys them more time. Obviously given the market you are buying a lot lower than most buyers did at the peak, and that buys you more flexibility as well. If for some reason you could not sell, as a lot of people can’t in the current market, you always can turn to renting the home out. Having the third bedroom would easily pocket you more money per month and make it easier to rent.

Two Car Garage

The larger the garage, the better.One garage stalls and MN townhomes don’t mix well with the current market because there is SO much inventory with a two car garage. Even with a two car garage you might not be safe. Builders will literally cram a garage that is just as wide as the 16 foot door and call it a two car garage. Especially for couples with two larger cars, this can present a problem you don’t realize until you come home from closing and try to unload things. In an ideal world, try to find a 22-24 foot wide garage. Depth & Height can also cause problems for someone with a large truck or van. I have had many clients test the garage to see if their truck can fit, only to find out it does not. When looking to resell, this just might eliminate some of your buyer pool.

Basement

Tornado!!! Hide under the…stairs??? Well, Minnesota bring us tornados every year and thankfully most do not touch down to create too much damage. Regardless it always gives us a little more peace of mind heading under ground. Another benefit to MN townhomes that have basements would be they typically feel more like a house as there is multiple living areas for different members of the family.