Condominium ownership means that you own something out right and something in common with others. How much depends on structure. A single house may be owned along with its immediate land but the common lands and recreation facilities may be held in a condominium association, with dues and rights of use. Each condominium is governed by by-laws, so you have to get them to figure out exactly what you are getting.
Some sloppy definitions of condo refer only to apartments that take a single floor as opposed to a "townhouse" that takes up all floors in one slot of a row of similar buildings. While this may be useful, technically it is not correct. A townhouse can be as much a condominium as anything else.
Jillian Mason-Sales Associate
All will depend on your particular needs:
With a condo, you typically have no yard maintenance to be concerned with, any exterior items that need addressing would be covered by your condo fee and in some cases the condo fee includes your water consumption and your Hazard Insurance.
It is a great purchase for someone that doesn't have a lot of time on their hands for home maintenance. in many cases you will also find condo communities have a greater walkability score over other home types. I've referenced a site below to figure out how walkable your home of choice is.
With a townhome; great for a first time home buyer.
Single Family is great for a larger family and someone looking for more privacy. Additionally, some purchase single families out side of an HOA to avoid the dictatorship issues like parking of work vehicles, boats, RV's.
and avoiding approvals for fencing and additions, exterior color changes to their home. Also avoiding the fee for the HOA.
The flip side of no HOA is, depending on where you are looking; cars parked in the front yard, chickens in the yard; home not being maintained properly, so on and so on....