What’s the Difference Between a Condo and a Townhouse
There’s so many different types of properties on the market and being built these days, that I thought I would do a focus on what the difference is between some of the real estate out there – beginning with Condominiums and Townhomes.
First of all, “condo” is a type of ownership. It applies to both a Condo (as you think of it as an apartment style living, described below) and a townhouse. If there’s a Home Owners Association, or any kind of monthly fee, it’s generally condo ownership for both types of property. A townhouse is a description of the property, much like you’d call a house a bungalow, rambler, colonial, etc.
Condominiums, i.e. Condos
Similar to the layout of an apartment, a condominium is a “suite” of rooms designed for living. It may be part of a high-rise, or just a single unit in a smaller building. Buying a condo will also offer a different type of ownership (this is really getting into the details of things….with condo ownership, you own your unit outright, but the common areas of the condo building you own ‘in tenancy’ with the other condo owners in the building)
Townhomes, i.e. Townhouse
A townhouse is a single-family residential unit that is generally part of a group of attached units, all with individual property rights. Ownership of such units is similar to single-family homes where you’re responsible for the exterior and landscaping.