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Condos and Townhouses – What’s the difference?

There is a lot of confusion about the differences between condominiums and townhouses. They share many similarities, and this seems to be the source of this confusion. Even among real estate professionals, we often hear more opinions than facts.

So let’s start by clarifying, condominiums or condominiums are a type of real estate. A row house is a royal style of construction.

A condominium is best described as “the concept of ownership of a single unit of airspace within a multi-unit dwelling, along with co-ownership of any common amenities (recreation centers, swimming pools, etc.) and common areas of the structures and land among all unit owners.

Townhomes are typically 2-story or higher-tier structures with common walls. These are a version of the old “Brownstones” or “Row Houses” that became popular on the East Coast.

similarities:
Ownership of the townhouse means that you own the structure along with any associated land. So the owner of a row house can own outright, like a single-family house.

This is where things get a bit confusing. It is not unusual to have “condo ownership” of a townhouse. In other words, the structure is a “townhome” while the property is a “condominium.”

Differences:
The property and common areas are the main differences between condominiums and townhouses. In fact, you can own a townhome outright, as well as the land (yard) associated with it. In a condo, you only own the “airspace” within your particular unit.

The owners of a condominium development each own an equal share of the “General Common Elements.” This includes the structural elements of the building’s roof, walls, walkways, clubhouse, pool, etc…

In a townhome community, all common elements are turned over to the Home Owners Association (HOA). Townhome owners are part of the HOA but have no interest in these items.

“Limited common elements” is where we see a difference between townhomes and condos. Limited common elements are only seen on the condominium property. These are things that are intended for the use of individual unit owners. Parking lots, garages, balconies, and patios are examples of Limited Common Features. Although these are owned by all unit owners, they are limited to use by specific owners.

In a semi-detached house, the balcony and garage are owned by the owner of the semi-detached house. The exception to this would be if a “townhouse” style home is owned by a “condominium”.

Summary:
Both condominiums and townhomes are what are known as “Common Interest Communities.” A “Common Interest Community” is one in which common real estate is held through appraisals and expirations.

Because of the Community of Common Interest designation, we see a lot of confusion. The easiest way to remember the differences is this: a condo is a form of real estate and a townhouse is an architectural style.

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