Difference Between Condo and Townhouse

Owning a house of his own is a proud feeling that every person dreams about. Every person tries to buy their own house, as per his requirements and budget. However, real estate is a pretty complicated sector. With the legal terminology and housing specifications of different types of houses, a layman is surely in for a great surprise and confusion. It is the reason why understanding differences and similarities between housing structures and their legal meanings is extremely important for anyone, who is wishing to buy that sought after dream house. In our today's discussion, we will try to find out the difference between condo and townhouse. All of us are aware of the condominium (condo) and townhome (townhouse)! But not many of us are aware of the exact differences and similarities between the two. If you are one of those, then keep reading and find out more.

What is a Townhouse?

Before learning more about condo and townhouse differences and similarities, let's get to know both these terms separately. Townhouse or townhome is a diverse concept. In the historic UK and Ireland, townhouse was described as - house of aristocrats or peers that was located in the capital or city. These people used townhouses only during social functions and when they had to attend parliament sessions. Apart from the same usage, modern-day townhouse plans are more of the terraced houses or row houses that are set in almost similar size and shape. Most of the time, row houses share common walls. Townhouses are single family residences and hence each of them has a separate opening. When you purchase a townhouse, you purchase a special unit from a long chain of similar properties.

What is a Condo?

A condo or condominium is basically a type of housing tenure, which also means 'common ownership'. In this housing tenure, a specific part of an estate is given away on lease or sale to a tenant by owner of the entire estate. Today however, the term condo is used as a substitute for apartment (or the special unit), which is rented or purchased by the new owner. As a result, a layman can assume a condo as an apartment, which is owned by its resident. While in condo plans, people own everything inside the interior walls, but things outside the exterior walls like hallways, heating system, elevators, garage, swimming pool, etc. belong to the owner of that entire estate. Now that we are clear about the basic concept of a condo and a townhouse, let's find out other things that completely separate both these housing structures from each other.

Difference Between Condo and Townhouse

Major difference between townhouse and condo is the ownership specifications. When a person owns a condo, he is the legal owner of everything which is inside the interior walls of the housing structure. It means, that if he/she wants to enjoy/use the rest of the amenities and facilities, then he/she is needed to pay a specific amount of monthly fee to the condominium association. The condominium association is formed by all the members of that estate who own a condo. On the other hand, a townhouse resident is the owner of his/her own living unit as well as the ground area surrounding that unit. It means, if a person purchases a townhouse, then he also has to pay for the outdoor areas like backyards, garage and everything that comes in specifications of that housing structure.

There is also a major difference between condo and townhouse, when it comes to paying the property taxes. Along with paying maintenance and usage charges to the homeowners' association, a condo owner has to pay property tax for only the individual unit. A townhouse owner on the other hand, has to pay property tax for his individual unit as well as the ground area, on which his house is set. It also means, that cost of a townhouse might be higher than a condo. However, it is also needed to be understood that a townhouse owner needs to pay a particular sum to the homeowners' association for overall maintenance of that complex.

Another basic difference between a condo and a townhouse is the structure of the house. No matter what the size is, a townhouse is located on ground level and there are no more floors on top of it except for a terrace or if the house is built in some different architectural styles like Cape Cod or Victorian, etc. A condo on the other hand is located in a general two or three floor complex or a high-end and luxurious, multistory building with exotic views to go with. If we discuss the safety and privacy levels of both these housing types, then one may have to admit that since they are surrounded by a close neighborhood, condos are safer. Townhouses offer better privacy than the condos, since in condos, you are always surrounded by many neighbors.

Well, as a parting note, I would like to state that a condo is always a cheaper option than an exquisite and expensive townhouse. This is where I conclude this article about the difference between a condo and townhouse. I hope it was comprehensive! All the best.