“What is the difference between a condo, and a townhouse?” is one of the most common questions that real estate professionals hear. When you are ready to become a homeowner or rent a home, you may consider a variety of home styles. The most popular types of housing for first-time homebuyers and home renters include single-family houses, condominiums, and townhouses. If you are ready to consider a new home for yourself, and your family, a condo vs townhouse conversation is a good thing to have with a real estate professional. Once you can consider the small and large differences between these two housing styles it will be easier to know which is the right home for you.
When you talk to a real estate professional dedicated to maintaining your interests, you can discuss all of your needs for housing together. If you have decided that you want either a townhouse vs condo there are some things to consider in order to make that final choice. First, ask your RealtorⓇ about the neighborhood, schools, and workplace commute as well as any other questions that may affect the property value of the townhouse or condominium you are dreaming of. If you aren’t quite sure if a townhouse or a condo is the right fit for you, take a look at how the top two options for single-family housing stack up against each other.
A Condominium vs Townhouse: What Are The Main Differences?
If you are ready to narrow down the options for your home search consider the differences between condominiums vs townhouses. A side-by-side comparison of their five main features can help you.
Usually, there is a clear difference between the price of a condo vs townhouse. Typically, you will see a higher cost for townhouses simply because they offer more space, and thus will require HOA dues in addition to the robust amenities they include.
Overall, the maintenance cost of single-family housing is low, but out of all the types of these homes, condos require the least amount of upkeep. If you desire a townhouse prepare yourself for the cost of exterior features, outdoor spaces, and gardens.
There are specific property features that are more important to some renters, or homeowners than others. Consider the types of amenities that are a “must-have,” on your homebuyer’s to-do list. Property features to consider include security services, pool, sauna, gym, playground, dog park, laundry, smart home technology, fireplaces, and more.
If you are a working-class person, your home location may be one of the most important factors in your home search. Children may also play a role in your decision between a condo vs townhouse. Remember that condos are typically more centrally located within city centers than townhouses which tend to be found in residential neighborhoods.
Homeowners Association (HOA) rules are unique to each property. You will need to ask about the HOA rules for residents to find out about trash collection times, exterior decorations, patios, and other restrictions within the community.
Condo vs Townhouse: Which is Best For Me?
In the condo vs townhouse debate, you must consider the best aspects of each option before you know which is the right style of home for you.
What is a Condo Best For?
Ideally, condos are for residents who enjoy apartment-style housing with common areas and shared outdoor spaces. If you are someone who anticipates living in apartment-style housing with a neighbor above, below, or next to them, then a condominium might be best for you. A condo is best for someone with the ability to climb stairs, live communally, and enjoy nearby attractions like restaurants, shopping, and businesses.
The bottom line: Condos are best for people who desire an economical building, shared outdoor areas, and a communal lifestyle.
What is Townhouse Best For?
Considering a single-family home means that you can include condos, townhouses, and houses in your search. However, townhouses offer unique features making them ideal for a middle-ground option within the community property categories. The perks of this type of home include community living, more space than a condo, and multiple floors which can be the ideal layout for families who need multi-level living space. Some townhouses include small outdoor spaces ideal for gardening, pets, and even a garage for your automobiles. If you are prepared for the additional maintenance responsibilities of a single-family home, a townhouse is a good option.
The bottom line: Townhouses are best for people who require a single-family home, but desire more space within a community property.
Community properties including apartments, condominiums, and townhouses are ideal for people with independent lifestyles. Comfortable and cozy, these types of communal homes are appealing for some people. However, over time you may outgrow these types of properties, and desire a single-family home.
Before you make your final decision complete this comparison of condos vs townhouses. This step is an essential consideration before you rent, or purchase a new home. While condominiums are convenient, if you are ready to take responsibility for more property upkeep, and you have room in your budget for it, a townhouse could be the right choice for you. Call Jeff Barchi today to talk about your options.