Townhome vs. Condo: Which one is Right for You?
Trying to decide between a townhouse and a condo for your next home? There are definite advantages and disadvantages to both. Determining which one is right for you comes down to your own personal preferences about how you wish to live. You’ll have no problem finding either condos or luxury townhomes in Greensboro, NC, so consider these different factors to help you choose.
Maintenance
When it comes to maintenance, to what extent maintenance is included tends to differ between condos and townhomes, but it will also differ between communities. Typically condos are individual apartments within an apartment building, so the upkeep of the building itself, land, and common areas is usually handled by the condo association. Repairs to the inside of the individual condo are typically included. In a townhome some maintenance to the lawn and home itself may be included, but not always. This depends on the homeowners association for the townhome community.
Cost
The cost of a condo vs. a townhome tends to differ based on the price of real estate in the area. However, townhomes typically cost more to purchase because they have some land included.
Associations
Condos will typically have a condo association and the townhome community will have homeowner’s association. These associations are typically made up of residents and govern the community, building, and grounds. The association establishes guidelines and votes to make changes in regulations. As a resident of the community, you will be required to pay dues to the association on a yearly, quarterly, or monthly basis.
Taxes
Owners of both townhomes and condos are required to pay property tax because the home is actually owned rather than rented.
Privacy
A townhome will offer slightly more privacy than a condo, in that the home shares a wall with either one or two other homes. A condo may have neighbors that share walls on all sides as well as above and below.
Land
A townhome owner will actually own the home itself and the land it sits on, whereas a condo owner does not own any individual land. A condo owner does have access to the common areas of land owned and maintained by the condo association.
Safety
A condo tends to offer a higher level of security. In order to access a condo, it is usually necessary to enter a condominium building from one or a few available entrances. These entrances may require a key, electronic card, or have a doorman or security guard. In a townhome security is up to you as the entrance to your home can be publicly accessed the same as any single-family home.
Still Trying to Decide Between Condos or Luxury Townhomes in Greensboro, NC? Take a Tour
Touring these two different types of homes in person may be the best way to decide which one you’d be happier living in. Smith Marketing and Allen Tate Realtors® can show you condos and luxury townhomes in Greensboro, NC so that you can get a feel for the difference in size and style. Call (336) 215-7880 to speak with an agent today and take tours of condos and townhomes in the area’s most popular communities.