We explain the departure , along with advice from real estate experts on how to pick between the two when shopping for a home .
When it come to await for a home to buy , there are many things to consider beyond size of it and AMEX appealingness . The type of trapping itself is authoritative and sometimes puzzling : take a townhouse vs condominium . When you live in a condominium , you own everything from the walls in . When youown a townhouse , you own not only the structure but also the land it sits on . Townhouses are unremarkably smaller and more affordable thansingle - syndicate homesand are typically part of a homeowners association .
Kate Wollman - Mahan is an agentive role in New York CIty atColdwell Banker Warburg .
Credit: Grace Cary / Getty Images
Jeff Benach uprise townhome and unmarried - house rowhome projects as school principal of Chicago - basedLexington Homes .
Mike Fabbri is a licensed literal acres salesperson withThe Agencyin New York City .
“ Condos are swell for buyers who are happy to pay a maintenance fee to the condo panel in central for the management of the place , ” read Kate Wollman - Mahan , an agent at Coldwell Banker Warburg . “ In my experience , a townhouse purchaser is typically someone willing to forgo the peace of mind of mind that comes with having others manage the dimension for them because they crave the privacy that come with their own home . ”
Get light on your wants and needs to narrow down down your hunt when you are shopping for a new house .
“ Buyers should moot how they want to exist , ” says Jeff Benach , principal of Chicago - free-base Lexington Homes . “ seldom do prospective buyers go out look for either a condo or a townhome , as buyers typically know the general lodging type that will work for them from the beginning of their search . ”
The Differences Between Townhouses and Condos
Townhouses and condos are different for several reasons , but the biggest is the ownership complex body part .
“ Homebuyers are often confused by the term condo , ” Benach says . “ condo is actually a form of ownership or title rather than a building eccentric . ”
A townhome can lock under two eccentric of ownership , he explicate . It can have a condominium possession arrangement or fee - simple-minded possession , like a single - family home . In the first case , you own just the building block itself from the walls in . In the latter , you own both the townhome and the country it ’s on . " Fee mere " cite to a all over type of ownership , where you pay to purchase a property instantaneously and do n’t share common areas or portions of the property with other owners .
“ It ’s for this cause that in any multi - unit building , whether it is two stories marvellous or a 75 - flooring high - rise , it has to be deeded as a condominium if the units are have by different masses or entity , ” Benach excuse . When multiple unit are built vertically , you have to partake the land and rights with other individuals .
What Is a Townhouse?
Unlike condos , townhouses are similar to individual - family homes .
“ Townhouse owner have full ownership of their units , including the terra firma , ” says Mike Fabbri , certify real demesne sales rep with The Agency in NYC . “ Owners generally have dominance over the exterior appearance and landscaping of their home . ”
When you hold up in a townhouse , you own the construction and the land;maintenance of both is your responsibility .
Townhouses are homes built in quarrel or clustering , often with partake walls . “ Townhouses share walls with neighboring properties unless fix on a corner caboodle . recess circle are covet as they offer more windows and sometimesside yards , ” Fabbri say .
“ For a townhouse , if something goes wrong , the care cost falls squarely on the shoulders of the owner of that townhouse , ” says agentDavid Harrisof Coldwell Banker Warburg . “ So , when the roof go ora pipe burstsin the basement , it ’s solely the owner ’s responsibility . If the roof of a condo building needs repair , it ’s a shared cost among all of the owners of units within the building . ”
“ Townhouses provide more privacy and space than flat and are generally easier to hold than detached single - family homes , ” Fabbri add .
Townhouses are typically part of a homeowners association , much like condominium . Single - family dwelling house can be part of an HOA , but it ’s not a requirement for that type of property .
Townhouses tend to be more expensive than condos but less expensive than undivided - family homes due to their size .
“ A townhouse is typically governed by an HOA , ” enjoin Opendoor factor Jennifer Patchen . “ There are monthly fee and restrictions involved here , too , so those expense need to be regard . ”
Living in a townhouse allow you enjoy the best of both exclusive - household living and condominium animation in that you have some controller over your blank space but still benefit from shared amenities at a reduced toll .
“ Townhouses are often historic and arranged in rows , ” sound out Patchen . “ For those search for a living arrangement somewhere between an apartment and a house , a townhouse might be just the thing for them . ”
Because they are sometimes historical buildings , you might confront some regulations around how you’re able to alter their coming into court or structure . If you do n’t like the musical theme of following an HOA ’s pattern and desire more privacy , a townhouse might not be right for you .
What Is a Condo?
Condos are individual unit that often have divvy up walls in part of a larger building . They can be large and encompass intact floor or grouped tightly , like apartment .
“ A condominium , or condo , is a whole within a construction or a community own by an someone or an entity , ” Fabbri suppose . “ This ownership structure is more common in metropolis and urban surface area but can also be found in the suburbia . comforts and all common area , such as lobby , elevators , fitness gist , and hallways , are owned jointly by the condo owner and are governed by the association , which enforce normal and regulations . ”
When you live in a condominium , you own the attribute from the wall in . The prop the condominium pose on is owned by the HOA , which oversees landscape gardening and alimony of shared amenities .
“ Monthly or one-year fees are paid to the association for the maintenance of the common areas and building exterior , ” Fabbri bestow . “ Association principle alter widely and must be carefully reviewed before purchasing as they impact your activities and mandate certain upkeep . ”
condo incline to be less expensive than townhomes , give they are a bit smaller in oecumenical , but fees for associated HOAs can vary greatly .
“ In improver to the purchase price and monthly payments , there are special assessments that can come up at any give metre — and cost a pretty cent depending on the project that need the monetary fund , ” Patchen says . “ From limited exterior renovations to interior upgrade , condo owners call for store available in guild to be prepared for assessments . ”
Condos are commonly part of an HOA or managed by a condo board or dimension management company , much like townhomes , meaning there are rules you must follow .
“ HOA rules and restrictions can be a major disadvantage because they govern life style selection , include pet ownership , entertaining ability , andnoise restrictions . ”
Mike Fabbri , tangible estate of the realm sales representative , The Agency in NYC
Living in a condo lets you enjoy the good of both undivided - family living andapartment livingin that you have a more stable living arrangement in full term of your monthly payment , but you still benefit from partake in amenities such as a pool or gym but at a reduced price . There are also tons of service - related perks you might not think of in condo mount .
“ feature someone launch the door as you approach the building , receive your packages or teetotal cleanup , modify your HVAC filtersor lightbulbs , and service your convenience are aspect of convenience and luxury enjoyed by condo owners , ” Harris add .
If you ’re search for more ascendancy over your property or require a little more concealment , a condo might not be the best option for you .
Deciding Between the Two
When it issue forth down to it , deciding between atownhouse and a condodepends principally on your modus vivendi and the amount of control you want over your property .
“ Townhouse buyers oftenvalue privacy and security , but ironically , after researching the mart , many end up purchasing a condo because of the privacy and security measures they provide from doormen to staff to concierges , ” Fabbri says .
Condos offer convenience and shared amenity but often at the cost of autonomy .
“ Assess whether the amenities at a construction you are consider align with what you like , if you would really apply them , and then gauge your appetency to pay for said amenities through HOA fees , ” Fabbri says .
On the other bridge player , townhouses give you more freedom and restraint over your place but require more sustainment from the owner .
“ A townhome offers more privacy than a condo — buyer have a service department with direct entree from the house and do n’t have to deal an elevator . ”
Jeff Benach , head teacher , Lexington Homes , Chicago
“ A townhome provide a single - family unit dwelling experience due to its bigger floor plan and multiple levels of hold out space as compared with a condo without the buyer have to maintain an entire home and thousand , ” Benach tell .
Something else to consider is the standard condo layout , which Fabbri says offersless light due to shared walls and few overall windows .
“ mostly , if someone has a preference for light and view , they assay out condominium ownership , ” he sound out . “ By the nature of its belongings type , townhouses can be dark and generally offer street views as they are only a few tarradiddle above the dry land . ”
Evaluate Your Finances and Lifestyle Preferences
“ It ’s significant to appraise the financial facet of owning a condo or townhouse , ” enjoin Dana Hall - Bradley , Realtor and Owner at Better Homes and Gardens Real Estate Fine Living . “ A buyer should think about prospicient - terminus plans and whether expenses colligate with own a condo or townhome are deserving it in the longsighted run . Will the family appreciate like a single - family home ? Is it good for resale ? What if there are assessments in the time to come ? Can I afford them ? ”
Hall - Bradley also find that your point in life might dictate the style of home you opt .
“ In my real - lifespan experience , purchaser with families are angle more toward the townhome lifestyle versus the condo lifestyle , ” she say . “ Thecondo buyers are retiredand looking for a maintenance - free lifestyle with comforts . They are looking for a more concern - free livelihood experience . ”
If you ’re looking to bribe one or the other , finding a commit real the three estates agentive role first is important .
