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7 Interesting Facts Whats The Difference Between A Townhouse And A Condo | what’s the difference between a townhouse and a condo
- In terms of ownership, in most townhouse communities, owners own their unit’s interiors and exteriors, in the inclusion of the roof, driveway, and lawn, but not communal areas. Structure quality, townhouses are designed in rows, so tenants usually share at least one common wall. It’s common for townhouses to have two or more stories. Some townhouse communities offer the same types of amenities as condos, but others are more exclusive than others. - Source: Internet
- Less experienced first-time homebuyers may want to know what makes a residence a townhouse. The physical description alone is a tapered, multilevel residence attached to other residences on a street is not always a clear giveaway because some areas have condominium communities featuring two-three attached residences. The defining feature of a townhouse is ownership. Townhouse owners usually own the land on which the house is situated, including any front and backyard area that goes with the residence, no matter how small. - Source: Internet
- Monthly costs and maintenance are the defining features of condominiums. Like townhouse owners, a condo owner pays monthly condo association dues, though their fees may be significantly higher. Condo community home owners association fees cover the asking price of the unit exterior maintenance, and the security required to cover pricey items such as parking structures, pool maintenance, roofs, elevators, etc. A condominium works well for first-time homeowners that have intent on owning real estate at a reasonable price and close to where they work, play, or for investment purposes. - Source: Internet
- Housing choices are a handful, especially in urban areas, leaving many first-time homebuyers wondering which type of residence to buy. Each style of townhouse, condominium, and detached home, has its pros and cons. Buyers should consider their lifestyles and budgets, as well as how much they would want to be involved with home maintenance when deciding which option works best for them. Enough of that today. We will be talking about the difference between condominiums and townhouses and which is best suited for you. - Source: Internet
- Condominiums contribute the most hands-off approach to homeownership. Many of these types of residences are physically identical to rental apartments, though some developers build condos that look like multilevel townhouses. Condos are often cheaper than townhouses, in part because they come with no land. The outer part of the condo units, plus the land around them, is considered a common area and owned collectively by all the condo owners in the community. - Source: Internet
- They also own their home’s exterior. Additionally, townhouse communities generally have homeowner association dues. Owners pay monthly fees to cover insurance and maintenance of the community’s areas, as well as for garbage pickups and leave removal. Some HOA’s enforce community aesthetic rules, such as the colors of exterior paint authorized and the types of fencing owners can place. - Source: Internet
- Townhome owners pay lower monthly HOA dues because they pay for much of their own upkeep. Certain types of maintenance and trash removal are still handled by the HOA, condominiums may be higher but they reap the reward in terms of amenities. In terms of size, Townhouses can be quite large and often feature multiple stories and they have more private outdoor space. As with HOA fees, townhouse owners typically have lower monthly maintenance fees but pay more out of pocket for exterior and interior care. Townhouses share one or two walls with neighboring units, but don’t have units above or below them. - Source: Internet
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