“What is the main difference between a condo and a townhome?” This is one of the most frequently asked questions we get from prospective homeowners exploring which option will work best for them and their lifestyle.
The biggest difference between a condo and townhome has to do with how ownership is defined.
A condo is a single unit situated in a complex that can appear like an apartment building or can be simply be units side-by-side. Sometimes it can even be a combination of both, where you have neighbors upstairs, downstairs, and/or next to you. When you purchase a condo you will only own the interior of that space. As a resident and owner of the complex you share and contribute to a homeowner’s association (HOA). The HOA covers necessary maintenance, upkeep and insurance for anything outside your unit, including landscaping, upkeep of amenities, and often roof maintenance as well.
A townhome mainly refers to a type of architecture. Townhomes are usually multi-level homes placed side by side so that they share at least one wall. When you purchase a townhome, you own the interior, exterior, and land that it sits on including the driveway, lawn, or patio if it has one. Just like with condos, townhomes also have HOA fees.
Does that help? Hope that explains it for you! If you have any other related questions let us know and we’ll be happy to answer them for you!
Looking for more?
