Many new homebuyers assume the terms “condo” and “townhouse” are interchangeable. In reality, there are some important differences that can affect your home ownership experience.
To help you decide, we have created this helpful article that will point out some of the major differences between condos and townhouses. Let’s look at some definitions first:
What is a condominium?
A condominium is a building or community of buildings in which units are owned by individuals, yet there is a neighborhood organization that handles basic maintenance and landscaping.
What is a townhome?
Townhomes are conjoined units that are owned by individual tenants and are architecturally similar to row houses. Townhouse owners usually share at least one or more walls.
When choosing between the two, homebuyers have many factors to consider. Here are some of the major differences between condos and townhouses:
Townhouse vs. Condo
Condo Ownership: To simplify, condo owners own the airspace inside of their home. Everything else is owned by a home owners association.
Townhome Ownership: In townhomes, the homeowner owns both the interior and the exterior of their home. Communal areas are owned and maintained by a home owners association.
Privacy: While both condos and townhomes do offer homeowners privacy, townhouses are typically more private as many communities offer detached home units while condos are usually apartment-style units with someone living above or below them.
Size: There is not much difference in size between a condo and a townhouse, but a townhouse is generally larger and it can be multistory.
Fees: Both condominium owners and townhouse owners pay homeowners fees, but condo fees are often much higher as they include factors such as lawn care, trash removal and pest control. Much of the upkeep in a townhome community is paid for by the homeowners but trash removal and some other maintenance factors might be covered by the HOA.
Community: Condominium communities are often more community oriented with a pool, club house, golf course or other amenities, where a townhome community is often more private.
To learn more about the benefits of owning a condominium or townhouse in Massachusetts, contact Sovereign Realty Advisors today for a no-obligation consultation with one of our Massachusetts commercial property experts today.
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