Difference Between Condo and Townhouse

Condo vs Townhouse

Condo (condominium) and townhouse are the specific terms often used by state agents, property owners and all those landlords or people who are thinking to own, rent, or lease land. Other terms which co-exist along with these might include family-homes, town-homes, apartments, row house etc. while getting to know the difference between a condo and a townhouse, we need to first understand that along with the difference in the building, there is a difference in the legal procedure of owning a piece of land. Let’s not be confused and understand both the terms separately so the difference becomes clearer and easier to understand.

What is Condo?

Beginning with a condo, actually it’s kind of a place which is partly owned by the person living inside and partly owned by all those people who have a joint ownership of that whole place or area. For example if we consider an apartment or a flat which is owned by that individual person who is living inside it, there are some parts such as the lifts, the elevators, the parking lot and other area which is a joint ownership of everybody living in all those apartments so we will consider that to be a condo or better known as a condominium. Usually people consider a condominium to be a small or a single unit which is a part of a lot of other units joined together. Mostly in a condo system, the people living in those apartments share a common wall. But this is not always the case since the trend is now hanging and a lot of people are now going for condominiums which are not attached to one big unit which is split into smaller units, but they are rather separate and detached.

What is a Townhouse?

A townhouse, as opposed to a condo is that sort of a land where you find a series of similar-looking small houses which separate from each other even if they share common walls. Another thing to note here is the fact that owning a townhouse would mean owning it completely. There is no sharing and you are the sole care taker of that townhouse.

Difference between Condo and Townhouse

It is always very important to keep in mind this difference whenever you are thinking to buy or sell property. If a condo is being sold to you, you should be aware of that and if it’s a townhouse, townhome, even then you should be aware of that because sometimes, when people are not aware of these differences, a lot of problems arise later only because you did not realize it before. Considering a condominium apartment, it is always partly owned by an individual and there are some commonly shared places which you should be told beforehand. On the other hand, a townhouse is one which is completely owned by the person living inside including the entire interior, exterior, backyard, front side and all. Before considering t buy any of these, make sure you are made aware of each and every single detail about that piece of land in advance.

  • http://twitter.com/intercommassoc Inter Comm Assoc ICA

    Your readers should note that a Townhouse can be formed in a condominium structure as well as a home owners association. This seems often to be a whimsical choice made by the developers.

    The main difference besides the type of law or regulations that govern them will be the assessments, condos tend to be more. The insurance that you as a unit owners must acquire and the community themselves faces are different depending upon it being a Townhouse Condo or Townhouse Condo.

    To be sure they should make sure that they ask for a complete set of valid community documents which can be purchased via sites like CondoHoaDocs.com