I agree with Smudge. My advice on buying a townhouse or any other "real" estate: DON'T
I used to "own" a nice house that I didn't own. Now I rent a nicer house from someone who doesn't own it, either.
All the normal, common ideas about equity and long-term investment are really a bunch of nonsense. There is no such thing as equity in reality, it's made-up banker nonsense. How can a house be an investment? Oh that's right, cuz property values only go up, right? (so I've been told by everyone). Property values really don't rise but their value relative to dollars does rise due to inflation because the dollars are worth less. Sounds like a solid investment worth spending the bulk of my lifetime income on.
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