If you have asked around and done some research, you might find that yourself hearing a lot of mixed opinions about townhouses. However, these properties are not governed by die hard homeowner associations (HOA) that will make you conform ‘or else’. In fact, townhouses are neither apartments nor houses. Not even exactly condominiums, in the traditional sense.
Condo vs townhouse
A condo is a purchased dwelling where the owner possesses the inside airspace. Everything on the outside is owned by the condo community. Condominiums may be an apartment type, a townhome style or a collection of small houses. However, a townhouse isn’t automatically a condo.
What is a townhouse?
‘Townhouse living’ is different in a number of ways. Mainly, when a townhouse is purchased, so is the plot of land that the dwelling was built upon. There is more property involved. Basically, townhouse owners are also landowners, well partially. You may have a patch of land in front of your home or an area along your walkway for flowers. The only thing condo owners own is inside space.
Living in a townhouse
Living in a townhouse has its perks. You won’t have to worry about ever replacing a deck or a roof, there will be no exterior painting. You won’t even need to maintain that small patch of land. That is where you see your monthly HOA fees in action. The leaves will be blown, the grass mowed, and the snow hauled away. All you need to do is maintain everything inside of your home.
Townhouses come with communities and sometimes amenities. Some estates offer a pool, rec room, a gym, or other extras. Since all the owners collectively own a percentage of all the amenities, it is common for residents to vote to make changes or additions by pooling their money together.
Townhouse vs. house
Typically, it is cheaper to buy a townhouse as opposed to a single family residence. Although you will have a mortgage plus HOA fees. Traditional homeowners have a mortgage and all the other bills that go along with managing a house, minus the luxury of having all of the major outside chores taken care of for them.
Like a house, townhouses generally have a multilevel design, and share one or two sidewalls with another townhouse. They will provide as many bathrooms and bedrooms that will fit in the floor plan. Decorative dwellings may be located in popular city areas or off in the suburbs. Many are brand new, and include fashionable upgrades like stainless steel appliances, granite counters and hardwood floors.
Townhouse vs. apartment
Regardless of where they are built, a townhouse will offer almost the same atmosphere as a single standing house for a lesser price. The close units and shared investment in the community creates a more secure environment for townhouse owners. Neighbors are likely to recognize a stranger on the property and hear unusual noises. Another advantage, townhouse living can provide a quieter setting because there are no residents living above or below.