Condos vs. Townhomes

When you are buying your first piece of real estate it is not uncommon at all to realize there can be subtle differences between types of properties. One such comparison is between a townhome and a condominium. Buyers will ask what is the difference between a condo and a townhouse? There must be a difference otherwise why would they have two different names.

Real Estate agents are often left to answer the buyers question. What's funny about this is many real estate agents don't know the answer themselves. Quite a few agents I know are always surprised when they realize there are differences.

The article at Maximum Real Estate Exposure does an excellent job of explaining how these two property types are different. The two most significant differences between a condo and a townhouse is how ownership works and the responsibilities.

With a townhouse you are responsible for the interior, the exterior walls, the yard and the roof. With townhomes you have ownership of the land that the property sits on.

Condos on the other hand there is no individual land ownership. Each condo owner has a fractional ownership of the land. Since townhome owners are responsible for yard maintenance including snow removal and cutting the grass, the costs tend to similar to single family homes.

From a visual standpoint condos and townhouse could look similar of they may look very different. For example, you often see condos in high rise buildings that would like identical to apartments.

It is not uncommon to see townhouse developments in suburban setting where there is some land associated with the property. In other words it may have much more of a neighborhood feel to it.

If you have any unanswered questions about comparing condos to townhouses take a look at the article referenced above. It should answer any questions you may have.