Townhouse Vs Condo

Dated: 01/09/2020

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Townhouse Vs Condo

TOWNHOUSE VS. CONDO: WHICH SHOULD YOU BUY?

Whether it’s your first time buying or you just want to purchase something smaller, townhouses

and condos are both great options. Check out the differences between the two to help aid you in

your search!

Condominiums

Condominiums are similar to apartments in that you purchase an individual unit inside of a larger

building, but not the property it sits on. This generally includes access to the building’s amenities,

such as the clubhouse, pool, and gym. However, condo owners are not responsible for the upkeep

and repair of these common areas. Because of the number of shared spaces, living in a condo often

allows for meeting new people and building a strong sense of community. There is a fairly similar

vetting process for loan approval as for a full-sized home; however, the lender will also look at the

health of the condo association.

Townhouses

Those who purchase a townhome are generally purchasing the complete unit, both inside and out,

including the land it sits on. This might also include the driveway, yard, or roof. Traditionally, these

units are two- or three-stories tall and may also include common areas like pools and parks.

Townhome owners pay a fee to a homeowners association every month and the loan process is the

same as buying a full-sized home.

Which is the best choice?

Both townhomes and condos offer less maintenance than a traditional home and generally offer great

shared areas. Your decision ultimately comes down to you and your family’s needs and wants. Things

you’ll want to take into consideration include location, lifestyle, family growth, and price.

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Terrel D. Terrell

I'm here to provide you with the best service possible to meet all of your needs. If you are in the process of buying, selling or renting a property, my team and I can make it happen for you. We're ....

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Townhouse Vs Condo

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Read More