Are you trying to decide between a condo and a townhome?
Understanding the difference between these two types of housing can help you make an informed decision. Both types of homes have their own unique set of pros and cons, so it's important to do your research before making a decision.
Let’s take a look at what each type of home offers. One of the most important differences between a condo and a townhome is what you actually own.
In a condo, you have possession over the inside of the unit, while in a townhouse you control the interior, exterior, and the land the structure sits on.
Condos tend to be units within a single, large building. There’s typically a common entrance and sometimes a shared garage. These homes are usually on one level, like traditional apartments.
Townhouses are individual structures with multiple levels built side-by-side, sharing exterior walls with neighbors. They may have an attached garage and a small patio or deck.
Let's break down the key differences between condos and townhomes.
CONDOS
➕Pros:
- condos are typically more affordable than townhomes
- they require less maintenance than townhomes
- they often have amenities like pools and gyms that are available for residents to use
➖Cons:
- you may have less privacy than you would in a townhome since you'll be living in close proximity to your neighbors
- some condo associations have rules that can be restrictive (for example, you might not be able to make changes to the exterior of your unit)
- monthly HOA fees are higher.
TOWNHOMES:
➕Pros:
- You'll have more privacy than you would in a condo since each unit is its own separate structure
- you'll often have your own yard or patio space
- townhomes tend to have more square footage than condos.
➖Cons:
- townhomes are typically more expensive than condos
- they require more maintenance than condos
Ultimately, the decision between a condo and a townhome comes down to personal preferences.
If you're looking for an affordable home with minimal maintenance requirements, then a condo might be the right choice for you. But if you're looking for more privacy and extra space, then a townhome could be the better option. Whichever type of home you choose, make sure to do your research ahead of time so that you know what to expect from your new home.
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