What challenges come with selling different Ft. Worth property types?
Different types of real estate common in Ft. Worth, TX
The most common property types are single-family homes, multi-unit homes, townhomes, and condos.
A single-family home is a structure designed for one household or family. It doesn’t share any walls with other houses and often has features like a private yard, driveway, and garage. Multi-unit homes include duplexes, triplexes, and quadplexes. A duplex is a single structure that’s divided into two units, meant to be lived in by two separate households that share a wall or a floor/ceiling. Townhomes are similar to multi-unit homes, but they usually have multiple floors in each unit and a shared wall dividing each unit. Triplexes and quadplexes are like duplexes but divided into three and four households, respectively. A condo is one unit in a community with buildings that each contain multiple living units.
You may experience some challenges when selling different types of real estate.
Difficulties of selling a single-family home in Fort Worth
A single-family home is attractive to many buyers because of the privacy it offers, but there are also many hurdles that may make it difficult to sell this property type. One factor that makes a house difficult to sell in Ft. Worth is that more people are renting instead of buying. According to a November 2023 RentCafe article, about 43% of households in Ft. Worth are rented by their occupants rather than owned, and a study by Florida Atlantic University and Florida International University showed that out of 100 of the largest US housing markets, Dallas-Fort Worth was the 11th most in favor of renting over buying.
High upfront costs like down payments and closing fees may deter some buyers, or they may need to back out of the sale if they are unable to secure financing for their home loan.
Challenges when you sell a duplex, triplex, or quadplex
When selling a duplex, triplex, or quadplex, sellers can face many of the difficulties above, but often doubled, tripled, or even quadrupled because many buyers only want to buy one part of a multi-family home. Even if they do want to buy one part, buyers may be concerned about buying a home that shares its floor, ceiling, or walls with another unit. Investors are more likely to want to purchase the whole home, but the cost could be too much for smaller investors, which may limit the pool of buyers.
Obstacles to selling a townhome in Ft. Worth
A townhome is similar to a multi-family home because buyers may only want to purchase one unit of it, doubling the challenges of selling a single house. Because townhomes are split vertically down the middle, each unit typically has a smaller amount of space on each floor, so buyers may be concerned about the lack of an open floor plan. The lack of private outdoor space can often be an issue as well.
There are two types of townhome ownership to consider—fee simple townhomes and condo townhomes. Fee simple townhome ownership is similar to owning a single-family house. The buyer will own the structure and the land that the home sits on. Condo townhome ownership only includes the interior structure, not the exterior walls or land. Both have their own downsides—a fee simple townhome has outdoor space that the buyer will need to maintain, typically without the privacy to enjoy it that would come with a single-family home. A condo townhome, on the other hand, often comes with a higher maintenance payment or HOA fee since someone else is taking care of the landscaping and external property maintenance.
Hurdles to consider when you sell a condo
When you sell a condo, you could face many challenges in addition to the ones listed above. Many buyers don’t want to deal with a condo association that may be difficult to work with. The ratio of tenants to owners in the condo complex can also make someone less likely to buy—some buyers want to know who their neighbors will be in the long term.
One of the biggest reasons a buyer may hesitate to buy a condo is the possibility of paying special assessments. Condo owners pay a monthly fee that goes toward upkeep of the condo complex, like repaving parking lots, replacing damaged roof tiles, and lawnmowing. If an unexpected cost comes up that goes over the budget covered by the usual fees, or the condo association mismanages money, condo owners have to pay a special assessment to make up the difference—an additional fee on top of their normal monthly fees. These can add up quickly if there are many upkeep costs or mismanagement.
We Buy Ugly Houses® can buy many Ft. Worth property types.
Selling with a Ft. Worth property buyer like We Buy Ugly Houses® can help you avoid many of the hassles and roadblocks for nearly any property type. Our friendly property buyers in Fort Worth are locals themselves, so they know the area and are ready to give you the best home-selling experience possible. We’ve bought over 150,000 properties nationwide and can close fast because we work with you to determine a closing date that fits your schedule. Our simple, 3-step process can give you a break from the headaches of selling different types of real estate:
- Appointment scheduling: Let us know that you’d like to schedule a time for us to come out and visit your property.
- Property walkthrough: One of our property buyers will visit your home to take a look around and answer any questions you have.
- Convenient offer: You can get a fast, convenient offer for your property “as is”—no need for repairs, renovations, home staging and photography, showings, open houses, commissions, or even cleaning! We also charge no hidden fees, pay typical closing costs, and take care of any unwanted items you want to leave behind. Our offers are usually below market value in exchange for speed and convenience.
Get in touch today to find out if We Buy Ugly Houses could be the perfect opportunity to sell your Ft. Worth property without the hassles that come with a traditional sale.
