What’s the Difference between a Condo and a Townhouse? Well, you probably know that buying a home can be a stressful and overwhelming process, and the complicated real estate jargon is likely to make things a bit more confusing. This is especially true if you are a first-time homebuyer. With a lot of different architecture terms and kinds of homes out there, you may find it hard to know where to start your home search.
The condo versus townhouse dilemma usually begins with the question, “What’s the difference between a condo and a townhouse?” When it comes to purchasing a home, condos and townhouses throw a unique curveball to the equation. In addition, the definitions of each can seem to blur on the first look.
Did you know that townhouses and condos have subtle yet unique distinctions that can mean the difference between your dream home and an in-between home? While condos and townhouses are both excellent types of homes, some main distinctions may make one of these homes better suit your lifestyle than the other.
We will start by defining what the key architectural differences between a townhouse and a condo are so that you can make the right decision.
Condominium vs Townhouse – What’s the Difference between a Condo and a Townhouse?
What is a Condo?
We can define a condo or condominium by the type of ownership. In simple words, a condo is a single unit, and you only own the interior of that space. A condo varies in size or style, and can range from individual homes to high-rises; however, keep in mind that condominiums usually share walls with adjacent units.
It is typically in a building with many similar units side by side, and all have different owners.
As condos usually have more residents per building compared to townhouse communities, they often have amenities, such as a clubhouse, pool, library, gym, and even special services, such as a concierge. You will find them anywhere, from residential buildings in suburban areas to luxury high-rises in urban areas.
What is a Townhouse?
A townhome or townhouse is a single-family home, and it shares one or multiple walls with several other independently-owned units. Note that if you own your townhouse, you are the owner of the interior, exterior as well as land on which your home sits. Townhouses are typically rows of uniform homes, at least two stories tall. Also, keep in mind that townhomes typically come with HOA fees.
A townhouse community often gives you a hybrid experience of living in your own house while enjoying some of the fantastic perks of community membership. Note that the defining feature of townhouses is ownership.
If you buy a townhouse, you will usually own the land on which your house is situated, and this includes any front- and backyard area which goes with the residence, regardless of how small.
Condo vs Townhouse – Which Option Should You Go For?
A condo can be ideal for you if you do not mind living with other residents on the floors below, above, and next to you. A condo is also a smart and suitable buy for you if you value having all of your living space on a single floor. On the other hand, townhouses are best for you if you are looking for more space compared to a condo and multiple floors.
