What is the Difference Between a Condo and a Townhouse?

Property Management

December 12, 2024•4 min read

Are you ready to buy your next home but torn between purchasing a condo or a townhouse? You're not alone. Over 40 million Americans live in communities governed by homeowner associations, and many prospective buyers face the same dilemma.

Here's a surprising fact: the difference between a condo and a townhouse lies in what you own. In a "condo," you only own the interior of your unit, while exterior spaces and land are shared and managed by the homeowners' association (HOA). In a "townhouse," you typically own both the interior and exterior, including the land on which the structure is built.

This distinction can significantly impact your lifestyle and finances, so understanding it is crucial for making the right choice. Let's dive deeper into the condo vs. townhouse debate to help you make an informed decision!

What is a Townhouse?

Let's start with townhouses. Picture a row of connected homes that look like they belong in a charming European neighborhood. Townhouses are multi-story, attached homes that share one or two walls with neighbors, providing more privacy than apartments or condos.

Each unit typically has its own private entrance, and the homeowner fully owns the interior and exterior space, including the land on which the house is built. One of the best parts of living in a townhouse is that many come with personal outdoor spaces, like backyards or patios, offering homeowners a slice of the outdoors right outside their door.

However, townhouses come with HOA fees, similar to condos, which help maintain common areas and amenities.

What is a Condo?

So, is a townhouse a condo? Not quite! A condo, short for condominium, is a type of ownership rather than a style of building. Unlike townhouses, condos are typically part of a larger building or community where you only own the inside of your unit—the walls, floors, and everything within.

The exterior, roof, and common areas are shared among all building owners, and the homeowner's association (HOA) manages these spaces' maintenance.

Condos are often more affordable than townhouses, especially in urban areas. They usually come with community amenities such as gyms, pools, or recreational spaces, making them a popular choice for city dwellers.

Condo Vs. Townhouse: A Side-by-Side Comparison

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How Do You Tell If a Property is a Condo or a Townhouse?

Are you standing in front of a property and wondering if this is a townhouse or a condo? Here are a few clues:

Ownership Structure: If the homeowner owns both the unit and the land beneath, it's a townhouse. In contrast, if the owner only has rights to the home's interior and shares common spaces with other residents, it's a condo.
HOA Fees: Both condos and townhouses usually have HOAs, but condo fees tend to be higher since they cover more services, such as exterior maintenance, landscaping, and shared utilities.
Outdoor Space: Townhouses often have private outdoor spaces, like a backyard or rooftop deck, while condos share communal areas.
Building Style: Townhouses are typically multi-level homes in a row, while condos are usually single-level units in a larger building or complex.

Pros and Cons of Townhouses

Pros:

More privacy: Sharing fewer walls means quieter living.
More space: Townhouses are often larger, making them an excellent option for families.
Private outdoor areas: A private yard, deck, or garden.

Cons:

Higher maintenance: Since you own the exterior, you're responsible for maintaining it.
HOA fees: These can add to your monthly expenses, especially in more luxurious communities.

Pros and Cons of Condos

Pros:

Low maintenance: The HOA handles exterior upkeep, making condos ideal for busy individuals.
Affordable: Condos are often more budget-friendly than townhouses.
Amenities: Many condos have built-in perks like gyms, pools, and community centers.

Cons:

Less privacy: With shared walls and spaces, noise can be an issue.
Higher HOA fees: Due to the included services and amenities, condo fees are generally more expensive than townhouse HOAs.

Which Is Right for You?

If you're still torn between a condo and a townhouse, here's a quick breakdown:

Choose a condo if you prefer low-maintenance living, enjoy shared amenities, and prefer to live in a denser community.
Choose a townhouse if you value more space, want private outdoor areas, and are willing to take on more responsibilities, such as exterior maintenance.

Make Your Move with Mosaic Services

Now that you know the difference between a condo and a townhouse, the next step is finding the right property for you. Whether you're looking for a cozy condo in the city or a spacious townhouse in the suburbs, Mosaic Services is here to help. Our team of property management experts can guide you through every step of the process, ensuring you find a place that perfectly suits your lifestyle.

Ready to get started? Contact Mosaic Services today and let us help you find your dream home—whether it's a condo, townhouse, or anything in between!

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