For homeowners who are looking to downsize from a home to a smaller property with less maintenance, one option they should consider is moving to a villa. In addition to being a fruitful investment property, villas provide considerable privacy in a niche living experience.
What is a Villa?
Villas are homes located in retirement communities or vacation properties. They are one-level residences that often include patios, balconies, or gardens. As a property located in a community, they typically come with amenities like pools, clubhouses, or gymnasiums.
What are the Benefits of moving to a Villa?
- Investment Property. Like with a townhome, when a buyer purchases a villa, they are also purchasing the plot of land the property is sitting on. As this land value increases overtime, so does the villa itself, making it an ideal investment opportunity.
- Privacy & Exclusivity. With no shared walls and no shared water supply, a villa provides a similar level of privacy and exclusivity, as with owning a home. It is also typical for a villa to come with a private open space, such as a balcony or patio, which offers additional security and seclusion.
- Freedom to design. Though each community comes with its own set of design guidelines, a villa provides much more freedom to design, compared to living in an apartment.
In some communities, owners have the freedom to remodel and renovate existing rooms, or even create new additions, because they do not have to worry about answering to a housing society or neighbors with shared walls. Check with your community first, to see what your options are.
- Amenities. Like condominiums, villas provide exclusive amenities for all their residents. From 24/7 maintenance to recreational spaces, there is truly something for everyone.
To learn more about downsizing from a home to a new property and take a look at your mortgage options, contact a Loan Originator today!