Home Buying in Hillsborough>Question Details

Alice, Home Buyer in North Carolina

waht is the diffrence between condos and townhouses

Asked by Alice, North Carolina Sat Mar 13, 2010

Help the community by answering this question:

Answers

4
Condo owners own the inside of their units and a percentage of exterior surfaces and land based upon the units’ ratios to the realty. Townhouse owners own the complete unit including the exterior surfaces and the land on which the unit is buil--you decide which is best for your needs.
0 votes Thank Flag Link Sat Mar 13, 2010
Good information has been provided already let me add that I have owned both and still own two condos. There are advantages to each depending your needs. There are also what looks like a townhouse with front and back yards however its ownership is consistent to a condo. Let me know if I can help you further.
Deborah Rigsbee Miller EcoBroker,REALTOR
Coldwell Banker HPW
919-491-2826
Web Reference: http://YourAgentDeborah.com
0 votes Thank Flag Link Sat Mar 13, 2010
They're two entirely different things. Same as: "What's the difference between a Toyota and a brick?" (Umm, maybe a poor example!)

Really: A condo is a form of ownership. In a condo, you own everything inside the 4 walls of your unit. Everything else is commonly owned by the condo association. That's in contrast to, say, a coop, where you don't own anything individually--you own shares entitling you to ownership of a unit. And those are in contrast to what you'd think of as ownership--where you own both the inside and the outside of a structure. Also, you own the ground and the lot it's on.

A townhouse, on the other hand, is a type of structure--typically a unit with one or two shared walls. That's in contrast to a single-family home, which is a stand-alone structure.

You can have condos that look like apartment units. Or you can have condo townhouses. You can also have coops that look like apartment units or coop townhouses. And technically you can also have condo (and coop) single-family homes.

So, condo describes how you own a place. Townhouse describes the physical structure of the place.

Hope that helps.
0 votes Thank Flag Link Sat Mar 13, 2010
Don Tepper, Real Estate Pro in Burke, VA
MVP'08
Contact
Hi Alice,

The difference is that in a condo, you do not own the land that it sits on or the exterior of the building. It's basically like buying the interior of an apartment. In a townhome situation, you actually own the land it sits on and usually a stip of land front and back (although quite small). You also own the exteriors of the townhome and a portion between side by side units. HOA's typically take care of exterior maintenance & yard work on both types of properties.

Please let me know if I can help you further.

Susan Crawford, ABR, Broker, e-PRO
Triangle Home Crew Team Leader
Keller Williams Realty
919-491-4663
0 votes Thank Flag Link Sat Mar 13, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer