![]() TOWNHOUSE VS. CONDO: WHICH SHOULD YOU BUY? Whether it’s your first time buying or you just want to purchase something smaller, townhouses and condos are both great options. Check out the differences between the two to help aid you in your search! Condominiums Condominiums are similar to apartments in that you purchase an individual unit inside of a larger building, but not the property it sits on. This generally includes access to the building’s amenities, such as the clubhouse, pool, and gym. However, condo owners are not responsible for the upkeep and repair of these common areas. Because of the number of shared spaces, living in a condo often allows for meeting new people and building a strong sense of community. There is a fairly similar vetting process for loan approval as for a full-sized home; however, the lender will also look at the health of the condo association. Townhouses Those who purchase a townhome are generally purchasing the complete unit, both inside and out, including the land it sits on. This might also include the driveway, yard, or roof. Traditionally, these units are two- or three-stories tall and may also include common areas like pools and parks. Townhome owners pay a fee to a homeowners association every month and the loan process is the same as buying a full-sized home. Which is the best choice? Both townhomes and condos offer less maintenance than a traditional home and generally offer great shared areas. Your decision ultimately comes down to you and your family’s needs and wants. Things you’ll want to take into consideration include location, lifestyle, family growth, and price.
7 Comments
Thanks for pointing out that condominiums would be similar to apartments since it is a unit inside a building. I just needed to know about this since I plan to buy a waterfront property this year. I might choose a condominium for this investment if that is the case.
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11/9/2021 07:44:31 pm
Hi,
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12/23/2021 12:57:31 am
I agree. Whatever decision you come up with, it should be based on your current needs, budget and overall lifestyle. There may be some adjustments you see fit for each type of <a href="https://www.goldensphere.com.ph">property</a>
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2/27/2022 10:19:31 pm
I didn't know that a condominium is a living space within a building, which gives the tenant access to the building's amenities! My friend is looking for a place that's near his office and university. I think he should consider investing in one of these since he'll be free of any maintenance concerns in the future!
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2/28/2022 09:04:40 am
I want to make sure that I get the right place to stay. It makes sense that I would want to get a townhome! I can see how that would be a good way to ensure that I have a comfortable place to stay.
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1/27/2023 07:36:02 am
I like how you mentioned that you should consider the maintenance of every property for proper property management. My close friend mentioned last night that he was looking for a luxury apartment that could offer superior comfort and privacy. He asked if I had any idea where would be the best option to find one. Thanks to this informative article. I'll tell him it will be much better if he consults the apartment community as they can help provide information about the apartment layout.
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