It can be challenging to choose between a house, townhouse, or condominium. You can choose which housing type is best for you by discussing with your realtor how the qualities of each fit with your financial situation and life goals. Read on to learn the main differences between homes, condos, and townhomes. Then contact Berkshire Hathaway HomeServices at (310) 373-0021 if you need help buying the perfect home.
What exactly is a “house”?
Detached single-family homes provide the most independence and privacy of the three housing alternatives, but they are also often more expensive than a condo or townhouse. With the exception of local zoning regulations, they offer the chance to customize your house and make renovations as requested.
Unlike townhouses and condos, houses typically have individual outside spaces and do not share walls. Owning a home places the duty of upkeep and improvement in the hands of the homeowner as all houses are built on their own lots.
What distinguishes a townhouse from a condominium?
Townhouse owners have the freedom to customize and renovate their properties (within limits), as they are responsible for the home’s exterior, outside spaces, and yard. However, exterior modifications and/or extensions to the house are not allowed. The trade-off with condominiums is that they normally require less care even if you typically have less influence over things like upgrades and external spaces.
What to expect with a townhouse
A townhouse is a modest, multi-story building that typically has a small plot of land in front or behind it. Townhouses may be grouped across a development and may not have a constant roofline with the other units, unlike row houses which have a common façade along a street. For some homeowners, townhouses may offer the best of both worlds as they fall somewhere between a house and a condominium.
Townhouse owners are in charge of exterior (roof and siding) upkeep and repairs, much like with a home. Due to a decreased emphasis on shared amenities, townhouses typically have a smaller footprint and modern renovations. They may also have lower Homeowners Association (HOA) costs than condominiums.
What to expect with a condo
Condominiums are separated, separately owned sections of a single, bigger structure. Condominiums are typically more affordable than townhouses or single-family homes because of their lower size and lack of land ownership.
Nevertheless, depending on the amenities provided in a building, adding HOA fees to a monthly mortgage payment might raise the expense of condominium living. Condominiums have the unusual feature that the exteriors of the apartments are regarded as common areas, with ownership divided among the building’s occupants.
As a condominium owner, you are only accountable for the interior of your unit, unlike townhouse owners. Residents share advantages including access to the gym and pool, laundry facilities, and other services because they live close to one another.
If you need help deciding what type of home is right for you, and other useful tips for home buyers, contact Berkshire Hathaway HomeServices at (310) 373-0021 and let us help you today.