If you’re considering a purchase in the near future, you may wonder what the difference is between a condo and a townhouse. While they may both seem like similar options, there are actually five key distinctions that set them apart. Keep reading to learn more!
When it comes to buying a home, it’s essential for buyers to understand the differences between condos and townhouses. There are several key distinctions that set these two types of dwellings apart.
5 Differences Between a Condo and Townhouse
Number One
The first difference is HOA (Homeowner’s Association) fees. Condos typically include HOA fees, while townhouses do not. HOA fees cover maintenance costs and building amenities and can be quite expensive, so they should be taken into consideration before purchasing a new home. When living in a condominium, your responsibility solely resides within the inside unit as the HOA fees cover exterior costs for maintenance. With a townhouse, most require the owner to cover exterior costs of maintenance for the entire building and land attached to the townhouse.
Important to note as well that condominiums are normally less expensive than townhomes, they also come with higher HOA fees on average, because the shared expenses of maintenance the HOA covers include items such as pools, elevators, the roof, and the other common property.
Number Two
Another distinction between a condo and a townhouse is ownership rights. When you buy a condo, you own the unit itself plus an undivided right in common areas such as hallways or stairwells. However, when you buy a townhouse, you own all of the land that it sits on as well as your unit and any common areas.
Townhouse residents typically don’t have as much noise from above or below them because they live on just two sides of an apartment complex; however, you’ll still likely be able to enjoy your yard space without being bothered by other people playing in it! So with a townhome you typically get a bit more freedom, however, it comes with a cost as we discussed in section one.
Number Three
One important difference in the two types of properties can be found in the form of rules, where townhomes are a bit less restrictive and condos tend to be more strict. The pros of living in condos include having more uniform rules which can make things like assigning parking spaces or maintaining property efficient; however, this means some homeowners might feel restricted when they alter their landscaping preferences because there isn’t an option on file yet–though these types often still value consistency across each lot instead!
Number Four
Fourthly, there are differences in the exterior construction of the two different types of dwellings. A condo is typically part of a larger building with shared walls between each unit while a townhouse offers more privacy with separate walls for each dwelling. In a condo, you typically have multiple floors with residents sharing common sidewalls as well as someone above, below, or both. A townhouse many times has neighbors sharing common side walls but none above or below them. The condo typically has more of an apartment feel and a condo feels more like an individual home.
Number Five
Lastly, when it comes to outdoor living space, condos generally provide less than townhouses do. Condos may have patios or balconies but they’ve often shared spaces that don’t offer much privacy. On the other hand, townhouses typically have a small yard or garden and may offer more flexibility when it comes to outdoor activities.
Conversely, the amenities of a condominium are usually much more extensive than those found in townhomes. Amenities can include pools, gyms, and lounges as well as shared service areas like clubhouses or playgrounds for children (though not always). Some new construction complexes offer resort-style features such as expanded TV channels with sports broadcasts; fitness centers equipped with weights rooms too!
Conclusion
From HOA fees to ownership rights to parking availability and outdoor living space, there are several differences between condos and townhouses that buyers should take into account before making their purchase decision. It’s important for potential homeowners to understand each type of dwelling in order to make an informed choice.
For more helpful information to help buyers make an informed choice, please visit our Blog page for further articles on a variety of topics related to Homeowners Associations.
