Main Difference – Condo vs Townhouse
Condo and townhouse are two types of residences. A condo is a single housing unit that is owned individually. Condo or condominiums come in different sizes and styles. A townhouse is a housing unit that is part of a row of houses joined by common sidewalls. The main difference between condo and townhouse is that a condo owner only owns the interior of the apartment whereas a townhouse owner owns the house as well as the land on which the house is affixed.
This article explains,
1. What is a Condo? – Ownership, Management, and Features
2. What is an Apartment? – Ownership, Management, and Features
3. What is the difference between Condo and Apartment?
What is a Condo
A condo, also known as a condominium, is a housing unit that is owned individually. Condos come in a variety of styles and sizes. A condo can be a part of a large high rise, a cul-de-sac of cottages or anything in between. While a single housing unit in a condominium is owned individually, the common areas of the building are owned equally by all the condo owners. The condo owners form a group called homeowner association (HOA) to manage and maintain the building. All the members are expected to pay a monthly fee.
Buying a condo is relatively cheaper than buying a house. The condo owner can also rent out the condo. In such an instance, the condo owner is the landlord of the renter.
What is a Townhouse
The term townhouse usually refers to a one of a row of houses joined by common sidewalls. A townhouse refers to multiple physical houses that are combined into a single architectural building. Each townhouse owner owns an identified plot of land and the house attached to it, but the house is physically a part of the larger building that combines all the houses. In most townhouse complex’s the owner owns the exterior areas such as lawn and driveway. A row of townhouses may consist of a continuous roof and foundation. A townhouse is similar to a semi-detached house.
Townhouse complexes often require a homeowner’s association since interests of the community are interwoven in a single architectural building. However, the townhouse complex’s HOA owns none of the building or the land under it, unlike in a condominium where the common areas are jointly owned.
Difference Between Condo and Townhouse
Condo: Condo is an apartment owned by an individual.
Townhouse: Townhouse is one of a row of houses joined by common sidewalls.
Condo: Condos come in many sizes and styles.
Townhouse: Townhouses have a continuous roof and foundation, and individual units are divided by a single wall.
Condo: The owner only owns the interior of the apartment.
Townhouse: The owner owns an identifiable plot of land and the house attached to it.
Condo: The unit owners (HOA) jointly own the building.
Townhouse: The unit owners don’t own the building or land.