Deciding between a condo and a townhouse? Both offer attractive alternatives to single-family homes, but understanding their key differences is crucial.
Think of a condo as apartment-style living where you own your individual unit, but share common areas like hallways, pools, and gyms. You'll pay monthly HOA fees for maintenance and upkeep of these shared spaces. Decisions are often made collectively by a condo board.
A townhouse, on the other hand, usually involves owning both the interior and exterior of your unit, including the land it sits on (or a portion of it). They typically feature multiple stories and attached walls to neighboring units. While HOA fees may still exist, they're generally lower than condo fees. You'll also likely have more control over renovations and landscaping within your property lines.
Ultimately, the best choice depends on your lifestyle, budget, and preferences. Consider factors like desired level of responsibility, privacy needs, and long-term investment goals.
