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Should I go for a SFH or townhome?

I have a townhouse that I’ve owned for 8 years (since 2014). I am looking to move closer to where my kids are, so although the market is tricky right now, I am a motivated seller/buyer.

My price range is around 400-500K. I am hoping to get a SFH , but I don’t really have enough money to get any new build SFHs or 2700+ SqFt SFHs (575K+ in my area).

My strategy is to try to get a SFH home that’s older and less SqFt. I am thinking something closer to 2000 SqFt and built before 2000. I am hoping for 4 BRs or 3BR with the ability to add or repurpose for another BR. Typically these older SFHs have bigger yards too (I have a few dogs). I have seen houses in this range in good shape go for around 450-475K, and that’s what I’m hoping to capitalize on. I am hoping the spring market brings more inventory that fits this mold because inventory is low and what I’m looking for is very specific.

My “Plan B” would be to get a townhouse in a slightly lower range. I am adamant about being patient for a SFH because I feel they are better long term investments and their value will hold and increase more likely over the years (even at these inflated prices) as opposed to a townhouse. Just with my specific requirements, I might have to wait a bit to find that house in the range i mentioned.

Does this strategy seem sound, or am I over exaggerating the disparity between a SFH and townhouse?

submitted by /u/Mikwelque
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source https://www.reddit.com/r/RealEstate/comments/10kxklu/should_i_go_for_a_sfh_or_townhome/
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