Townhomes or condos, two residential choices, are now becoming appealing to many individuals who`ve by no means thought of living like this in the olden days. They provide a variety of benefits which include many pricing options ranging from inexpensive entry-level selling prices for first-time home buyers to far more expensive choices for older and more affluent homebuyers. The 2 terms are typically used synonymously or interchangeably although they`re in fact two completely different types of homes.
The townhome is a single family house that is part of a group of attached homes with separate lines demarcating every separate property. The condo is very similar to an apartment and the name really means the kind of ownership. Not like regular apartments which may be rented, a condominium is generally occupied by the proprietor. Townhomes are constructed as single story or multi-story structures with not less than one different entrance for every dwelling unit. Condos are dwelling units housed in a single building that is commonly multistoried and the doorway is generally in a single shared area.
So far as ownership is concerned, the proprietor of a condominium has possession of his dwelling unit, but shares the common areas with the other residents of the condominium. The common areas include parking lots, the driveway, gardens and recreational spaces. Many states have properly-defined laws regarding condominium ownership. However, like a single-household residential unit, the owner of the townhouse owns both the dwelling and the land on which it is located. Since the land isn`t a separate piece of property, the ownership is restricted to the front yard and the backyard. It is also possible for you to purchase what is known as a patio house (also called a detached townhouse) which forms part of this category but is actually a freestanding single unit. They offer identical attributes as a townhome or a condo.
A townhouse or a condo is a great choice if you do not want to take the time and trouble to keep a backyard or to mow the lawn. Minimal or zero maintenance is required and this involves taking care of the common areas. Townhomes and condominiums are usually smaller and cheaper than single-family houses. However, all residents have access to common facilities and amenities such as a swimming pool or a gymnasium. You`ll have to pay the price by giving up some of your privacy.
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