Trying to pick between a Basalt townhome and a single‑family home? You are not alone. The right choice affects your monthly costs, weekends, and how easily you can rent when you are away. In this guide, you will see how carry costs break down, what HOAs typically cover, and how lifestyle feels in Old Town and Willits so you can move forward with confidence. Let’s dive in.
Compare carry costs
Your monthly carry cost includes more than the mortgage. To compare apples to apples, add every line item:
- Mortgage principal and interest
- Property taxes
- Homeowner’s insurance
- HOA dues (if any)
- Utilities
- Maintenance and reserves
- Any special assessments or local fees
Monthly Carry ≈ (Monthly P&I) + (Monthly property tax) + (Monthly insurance) + (HOA dues) + (Average monthly utilities) + (Maintenance reserve monthly).
Convert annual figures to monthly by dividing by 12. For a maintenance reserve, a common rule of thumb for single‑family homes is about 1 percent of the home’s value per year. Townhome owners often budget less directly for exterior items, but you should weigh HOA reserve strength and the risk of special assessments.
Townhome vs single‑family: who pays what
Here is how costs often sort out in Basalt. Always confirm in the specific HOA documents and with your insurance agent.
- Insurance
- Single‑family: Typically an HO‑3 policy that covers the structure and your contents.
- Townhome: Often an HO‑6 policy for the interior and personal property, with the HOA carrying a master policy for the building shell and common areas. Check the master policy type and deductible.
- Exterior and yard
- Single‑family: You maintain the roof, siding, paint, driveway, and yard or irrigation. You handle snow removal for private drives and walks.
- Townhome: HOAs often handle roof, siding, exterior paint, common landscaping, and snow removal on common areas. Owners may have duties for limited common areas like a private patio.
- Utilities
- Single‑family: You pay all utilities directly.
- Townhome: You pay separately metered utilities; some HOAs include items like trash or water for common areas.
- HOA dues
- Single‑family: Often lower or none, unless you are in a managed subdivision.
- Townhome: Regular dues that fund exterior maintenance, insurance for common elements, landscaping, snow removal, and reserves.
HOA scope and risk
An HOA can save you time, but it adds rules and shared financial exposure. Typical inclusions in Basalt townhome HOAs include exterior maintenance, common landscaping and irrigation, snow removal for shared areas, insurance for common elements or the building shell, and reserve funds for capital projects. HOAs also enforce architectural controls and rental rules.
Watch for red flags:
- Low or no reserves and no recent reserve study
- History of frequent or large special assessments
- Unclear or restrictive rental policies
- Deferred maintenance or visible common‑area issues
- Management turnover or high owner delinquency
Ask for CC&Rs, bylaws, budgets, reserve studies, insurance declarations, recent meeting minutes, and any litigation details before you make an offer.
Old Town: walkability first
Old Town is Basalt’s historic core with quick access to shops, restaurants, and river trails.
Old Town townhomes
- Lifestyle: Strong walkability and an easier lock‑and‑leave setup. You trade a private yard for shared spaces and convenience.
- Costs: HOA dues typically cover exterior care and snow removal. Review the reserve study and what the master insurance policy covers.
- Practical notes: Parking and storage can be limited. Ask about assigned spaces and guest parking, especially for winter.
Old Town single‑family homes
- Lifestyle: You are still close to Main Street, but lots are often smaller than in newer areas. Privacy and outdoor space can be modest.
- Costs: You will likely handle roof, exterior, yard, and snow clearing. Budget for higher hands‑on maintenance, especially in older homes.
- Practical notes: Check mechanical systems, insulation, and utility history to plan for winter.
Willits: newer and amenity‑friendly
Willits features newer construction, mixed housing types, trails, and parks.
Willits townhomes
- Lifestyle: Modern finishes, low‑maintenance living, and quick access to neighborhood amenities.
- Costs: HOA often handles exterior items and common‑area upkeep. Verify what dues include and the health of reserves.
- Practical notes: Townhomes can suit a lock‑and‑leave pattern while keeping you near parks and paths.
Willits single‑family homes
- Lifestyle: More privacy, larger lots, and room for storage or a garage. This can fit full‑time living or longer stays.
- Costs: You carry exterior and yard expenses but avoid townhome‑style dues.
- Practical notes: Review lot lines, easements, and any neighborhood agreements that affect use.
Wildfire and flood: insurance reality
Western Colorado has variable wildfire exposure, and Basalt sits along the Roaring Fork River and its tributaries. For both product types:
- Ask your insurance broker about wildfire risk and coverage availability.
- Check whether a property falls within a FEMA flood zone or local floodplain map.
- Confirm what the HOA master policy covers and whether there are loss‑assessment exposures for townhomes.
Higher hazard exposure can affect premiums and insurability, so it belongs in your early budgeting.
Rental flexibility and rules
Basalt and Eagle County regulate short‑term rentals. You should expect licensing or permits, lodging taxes, and rules around advertising and safety. The details change, so verify current requirements with the town and county before you plan any rental use.
- Townhomes: Often favored for lock‑and‑leave and STR potential, but many HOAs restrict or prohibit STRs. Read the CC&Rs and rules.
- Single‑family: May face fewer HOA restrictions, but municipal rules still apply and neighbors must be considered. Longer stays can be simpler to manage.
Revenue depends on occupancy, nightly rates, and seasonality. If you are evaluating rental performance, align your underwriting with local tourism patterns and the current rule set.
Buyer checklists: townhome vs single‑family
Townhome due diligence
- HOA CC&Rs, bylaws, budget, reserve study, insurance declarations
- What dues include: exterior, roof, siding, snow removal, water, sewer, trash
- Rental policy and any STR restrictions
- Special assessment history and current reserve funding
- Parking allotments and guest parking rules
Single‑family due diligence
- Property lines, easements, and setbacks
- Snow removal responsibilities and whether roads are public or private
- Utility cost history and heating system condition
- Floodplain and wildfire exposure and insurance quotes
- Any community or HOA agreements that affect use
Verify for both
- Current Town of Basalt and Eagle County STR rules and permits
- County property tax mill levy and any recent changes
- FEMA flood maps and local floodplain guidance
- Building code or rental registration requirements that may apply
Quick decision guide
- Choose a townhome if you value walkability, a lower‑maintenance routine, and shared services. Review the HOA’s financials and rules closely.
- Choose a single‑family home if you want privacy, a yard, and flexibility to customize. Plan for higher hands‑on maintenance and winter care.
- Focus on Old Town if proximity to Main Street and community energy matter most.
- Focus on Willits if you prefer newer construction, neighborhood amenities, and larger lot options.
Next steps
Run the full carry‑cost model, read every HOA document, and confirm rental and insurance details before you write an offer. If you want help aligning lifestyle and numbers, reach out to Lindsey Lane Bush for a focused consultation.
FAQs
What costs belong in a Basalt carry‑cost model?
- Include mortgage principal and interest, property taxes, insurance, HOA dues, utilities, a maintenance reserve, and any special assessments or local fees.
How do HOA reserves affect a townhome purchase?
- Strong reserves reduce the risk of special assessments for big projects like roofs or paving. Low reserves or no study increase shared‑cost risk.
What insurance differences matter for townhomes vs houses?
- Single‑family owners often carry an HO‑3 policy on the structure and contents. Townhome owners often carry an HO‑6 policy while the HOA insures common elements. Confirm deductibles and coverage scope.
How do Old Town and Willits differ for daily life?
- Old Town emphasizes walkability and historic character with smaller lots. Willits offers newer construction, community amenities, and generally more private outdoor space.
Can I use a Basalt property for short‑term rentals?
- Possibly, but rules vary. The town, county, and your HOA may require permits, lodging taxes, and certain standards. Verify current rules before assuming STR income.
What winter factors should I plan for in Basalt?
- Expect higher heating needs, snow removal responsibilities, and the importance of good insulation and mechanical systems. Townhome HOAs may handle shared plowing, while single‑family owners clear private drives.
