If you are interested in renting a home but aren’t ready to commit to a house, other options are available. Condos and townhouses are also properties that are available to rent or buy, but do you know the difference between them?
At Anderson Communities, we have helped many people find their perfect home, so we are very familiar with the different types of properties available. There are similarities between townhouses and condos, as well as important differences. Walk with us through the details.
What is a Condo?
A condo is an owned residential unit within a larger building, unlike a rented apartment. The owner of the condo purchases only the living space, while the property owner retains ownership of the building, common areas, and land where the building is situated.
People sometimes choose to buy a condo rather than rent an apartment, but they often find that their purchase doesn’t leave them room to grow financially and in living space.
What is a Townhouse?
A townhouse can either be a rental or a privately-owned property, typically situated in a building along with other units. Unlike condos, townhouses only share side walls and do not have any other residents living above or below. These types of homes generally come with their own entryway and a yard or patio.
Key Differences Between Condos and Townhouses
If there seem to be many similarities between the two types of homes, you are right. After all, they are both residences found inside larger buildings. But when you dig into the details, there are also important differences. Townhouses and condos may be alike in some ways, but each has unique qualities.
In general, condos offer more amenities than townhouses because they are essentially apartments. You’ll likely find certain benefits such as doormen, security staff, fitness centers, pools, and event spaces in condo communities.
Townhouses traditionally offer fewer amenities, such as a playground, pool, and clubhouse. However, newer townhouse communities are offering more varied and luxurious spaces for residents.
Townhouses have more privacy, as they only share side walls with other units. In a condo, you probably have neighbors above and below you and on either side. Many townhouse residents report that their separate entrances allow them to interact with their neighbors or not.
Neither type of home offers as much privacy as single-family homes, but they have other benefits, such as less upkeep and maintenance. Because both townhouses and condos have Home Owner’s Associations (HOAs), much of the maintenance is taken care of.
Condos are almost always smaller than townhomes. On the other hand, a townhouse often has multiple stories, whereas a condo is confined to a single floor. It’s also important that townhomes usually have their own entrance and a yard or patio. This personal outdoor area extends the living space in a meaningful way.
The Top Reasons to Choose a Townhouse
A condo may meet your needs for a while, but most people find living in a townhome more comfortable and flexible in the long run. Ultimately, the right home for you depends on your needs. Here are some of the things residents appreciate about townhomes.
- They offer more privacy and personal space.
- Most townhomes have a private outdoor area to relax, let the kids play, grow a few plants, or allow pets to stretch their legs.
- Condo owners have far more (HOA) requirements to adhere to.
- The HOA fees are typically higher for condo owners as well.
Anderson Communities is Here to Help Your Find Your Next Home in Kentucky!
If a townhome sounds right for you, and you’re ready to find your new home in Lexington, Georgetown, or Versailles, we invite you to take a look at the properties we have that are available to rent at Anderson Communities. We proudly offer homes in beautiful, vibrant communities with walkable neighborhoods and lush green open spaces.
We also pride ourselves on our customer service. We always offer full transparency throughout the process of finding a home for you, and we will never spring any hidden fees on you. For more information on how we can help you find the townhouse of your dreams, we invite you to contact us today.
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