Are you buying a house and can’t choose between a condo and a townhouse? Plenty of other home buyers understand your plight. These are two outstanding types of residential real estate that bring a lot to the table depending on your needs and lifestyle.
To help you choose which one is perfect for you, it is highly recommended you look at the most important aspects of condo and townhouse living, their similarities, and where they differ.
The building
The first thing to look at is the structure. One of the most significant differences between condos and townhouses lies here.
A condo is essentially a housing structure divided into many residential units. In home buying, you don’t purchase the entire condo. Rather, you are buying an individual unit which can come in different sizes and configurations.
Meanwhile, a townhouse is similar to a single-family home. The major difference is that it shares a wall or two with other townhouses. In that sense, they are laid out as a row, but each townhouse is its own independent house.
Ownership
As mentioned earlier, your ownership in a condo only extends to the respective unit you purchased. Everything within its walls are exclusively yours. Depending on the contract and the association, you might share ownership with other residents in regards to shared amenities and other common areas. You don’t share ownership on the land the condo building stands on.
In a condo, you will have to pay monthly dues that may or may not include the maintenance of these shared amenities and common areas. You are also beholden to follow the rules and regulations of the HOA.
As for a townhouse, you own the entire building as well as the plot of land it stands on. This includes the front and back yards (if there are any). There might also be an HOA in a row or development of townhouses, but it depends on the residents. It’s safe to assume that you’ll be largely responsible for the upkeep of the townhouse.
Privacy
A condo is a flexible housing option but you will have to sacrifice some of your privacy. Expect noise from your neighbors carrying over to your unit. You might also have to deal with a regular change in the quality of your neighbors in such a close-quartered living situation.
The condo association might also control who can visit you and what times they’re allowed to do so. They might also enforce other rules in regards to pets, parties, and even interior decorations.
With a townhouse, you might have more breathing space. You might still have to deal with changes in the quality of your neighbors, as well as other security and privacy issues.
All things considered, it is best to check with the condo or homeowners association about their rules and regulations to gauge the level of freedom and privacy you can enjoy within the comforts of your condo unit or townhouse.
Explore your housing options more with Cindy Pagnotta. Connect with her team today at 908.436.7947 or info(at)pagnottahomes(dotted)com to search condos and townhouses for sale in Bridgewater and Basking Ridge, NJ.