Condos and townhomes are both types of attached housing, but there are some key differences between the two.
- Ownership: In a condo, the homeowner owns the interior of their unit, but the common areas and amenities are owned and maintained by a homeowner’s association. In a townhome, the homeowner typically owns both the interior and exterior of their unit, as well as the land it sits on.
- Maintenance: In a condo, the homeowner’s association is responsible for the maintenance of the common areas and amenities, while in a townhome, the homeowner is responsible for the maintenance of their unit and the exterior.
- Space: Condos are typically smaller and have less outdoor space compared to townhomes, which often have a small yard or outdoor patio area.
- Cost: Condos are often less expensive than townhomes, as the homeowner’s association is responsible for the maintenance of the common areas and amenities. However, townhomes may offer more space and privacy, and still have a maintenance fee for lawn care, snow removal, and amenities, which could increase their overall cost.
- Location: Condos are often found in urban areas and townhomes are often found in suburban areas, but both can be found in either setting.
Both condos and townhomes have their own unique advantages and disadvantages, and the choice between the two will depend on the buyer’s specific needs and preferences, such as budget, space requirements, and maintenance responsibilities.