What is the difference between a condo and a townhouse?
The main difference between a condo and a townhouse is the type of ownership and the responsibilities of the owner.
A condo is a type of property ownership in which the individual unit owner has ownership rights to the inside of their unit, but the common areas, such as hallways, elevators, and amenities, are owned and maintained by a homeowners association or a corporation. The association is usually made up of all the unit owners, and it is responsible for maintaining the common areas and enforcing the rules and regulations of the complex. Condo owners are usually required to pay a monthly or annual fee to the association to cover these costs.
On the other hand, a townhouse is a type of property that is similar to a single-family home, but it is attached to one or more other units in a row. Townhouses are typically two or three stories, and they usually have small outdoor spaces, such as a front or back yard. Townhouse owners have full ownership of their property, including the land and the structure, and they are also responsible for maintaining the exterior and yard of their unit. They are not usually part of a homeowners association and don't usually pay monthly or annual fees to cover the cost of common areas.
Both condos and townhouses can offer a low-maintenance lifestyle, and both can be a good option for people who are looking for a more compact living space. However, condos are typically smaller than townhouses, they can be found in both urban and suburban areas, and they often offer amenities such as swimming pools and fitness centers. Townhouses are typically larger than condos, they are often found in suburban areas, and they usually offer more privacy and outdoor space.
It's always a good idea to work with a real estate agent, they can help you understand the difference between a condo and a townhouse and also help you make an informed decision.
Learn more about condos and townhouses here.
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