Townhouse or Condo: What is the Difference?

by Zoryana Rawlins 02/20/2019

 

Are you thinking about buying a townhouse or condominium? There are some notable differences between a townhouse and a condo that you must know before choosing. Understanding them will enable you to decide on the one to go for, whether a condominium or a townhouse. 

Townhouse 

A townhouse is a tenant-owned conjoined unit. They are structured architecturally like row houses where owners share one or more walls. 

Condominium 

A condominium is also known as a condo. It is a building or collection of buildings in which individuals own different units instead of a landlord. 

Having defined a condominium and a townhouse, let’s take a look at some factors you need to take into consideration when selecting one between the two. Here are the differences between a condo and a townhouse. 

Ownership

When it comes to ownership, condo owners own the unit’s interior only. All other areas of the building belong to the Homeowners Association (HOA). On the other hand, most townhouse owners own both the interior and the exteriors of their units. The exterior includes the lawn and driveway. 

Architecture 

Architecturally, condominiums are versatile. They come in diverse styles. Condo may be part of a cul-de-sac of cottages or part of a high-rise. Townhomes exist in rows; therefore, tenants usually share at least a wall. Townhouses can have two or more stories. 

Community

Condominiums have a focus on communal living facilities like a pool, golf course, clubhouse, and other similar amenities. Some townhouses feature the same kind of amenities as condominiums while others do not. 

Size

Condos come in diverse sizes and styles, and they are generally smaller when compared with townhouses. Townhouses are usually much more substantial than condos.

Maintenance Fees 

Condo owners pay a maintenance fee that is higher than of townhouses. The charges go towards repairing the exterior and community space. Townhouse owners pay an owner maintenance fee monthly. 

Privacy

Condominium could be an apartment-style unit or individual private homes depending on the styles while townhomes share at least one wall with adjacent units. Townhouse does not have units below or above them. 

Home Insurance 

Rates for condominium owners are lower since the owners insure the interior of their units only. Insurance rates may be higher in townhouses because the insurance must cover both the interior and exterior of the units.

Choosing which is right for you between a condo and townhouse depends on your family, budget and long-term plans. Contact your realtor today to discuss what option suits you best and how to prepare for it.

About the Author

Author
Zoryana Rawlins
Zoryana Rawlins is a highly motivated and self-driven REALTOR® who combines a love of the industry with a passion for constant learning and self-improvement. Before getting into the real estate business, Zoryana previously taught at ICA Language School and Foreign Service Institute of U.S. Department of State. She was a very responsible instructor and very attentive to the needs of her students. Her hard work and listening skills helped her students achieve high-level positions. As your real estate agent, Zoryana utilizes up-to-date technology tools to market your property, hosts your Open Houses, uses her negotiation skills to secure the best deal for you as well as smooth and flawless transactions that will ultimately achieve your satisfaction. Zoryana is active with Northern Virginia Association of REALTORS® and the National Association of REALTORS®. A lover of all things Virginia, Zoryana lives in Falls Church, Virginia, with her husband Michael, their son Roman and two adorable dogs Tuzik and Michiko.