Difference between Townhouse and Condo
Townhouses and condos are both types of homes. But there are some key differences between townhouses and condos. Being an owner of a condo, you are responsible for the maintenance of the inside of your unit. A condo is similar to an apartment while a townhouse is an attached home also owned by its resident. Townhouses and condos are found in urban, suburban, and rural areas. When you purchase a condo, you own a unit and share joint ownership of the building with the other owner tenants. Townhouse ownership is more in line with the ownership of a detached single-family home. You own the structure as well as the land on which it is constructed. Condo and townhouse are the terms of ownership more than they are the terms of architecture. You can live in a structure that looks like a townhouse but actually, it’s a condo in your ownership rights. There is no real winner, both have their pros and cons and both have a fair amount in common with each other.
A condo is a single residential unit. Condo layouts vary in buildings but most buildings have several units per floor. They can be found anywhere from luxury high rises in urban areas to residential buildings in suburban areas. Residents are responsible for their homeowner insurance.
On the other hand, a townhouse is a cross between a single-family house and a condo. They are typically two or three-story-tall and share walls with the next-door properties. There are two types of ownerships for townhouses. These are fee simple and condominium. The townhouse structure shares a wall with another structure.
|Size||Occupies a larger area||Occupies smaller area|
|Storey||Could have multiple storey||A single unit|
|Privacy||Less private||More private|