What is the Difference Between a Condo and a Townhouse?

Minneapolis High Rise Condos

Condo

A condominium (condo) development is a building with multiple units where each unit is owned by an individual. The building usually has common elements and/or shared amenities which may include the following; exterior courtyards, rooftop decks, exercise rooms, amusement/party rooms, etc… Condo buildings can range from low-to-mid-to high-rise buildings. 

If you buy a condo, you own only the interior of the unit while the building owner owns the rest of the building area and property. 

Condo Living

Townhouse 

A townhouse is a single to multi floor residence with their own entrance. The townhomes usually will have anywhere from three to five units in a section.

If you buy a townhouse, you own both the interior and exterior of the individual townhome unit. That will include the driveway, the front and the backyard of the unit. The interior will have at least one to two shared common walls (unless the townhome is detached).

Maintenance 

The Homeowners Association (HOA) monthly fees usually covers common areas and also the outside maintenance. Such as; snow removal & lawn care, landscaping, etc..

A condo and a townhouse both have their pros and cons. Deciding between a condo and a townhouse greatly depends on your preferences.

If you have additional questions or looking to buy and/or sell a condo or a townhome, please feel free to contact RE/MAX Results – Shannon Lindstrom, Realtor at 612-616-9714 or visit www.ShannonLindstromRealtor.com today.

 

The Benefits of Buying a New Construction Townhome in the Twin Cities

Anoka Townhome

Along with condos, townhomes have become some of the most popular properties for real estate buyers in Minneapolis,St. Paul and the surrounding suburbs. New construction townhomes are selling like hotcakes in the real estate market, and if you want to know some of the benefits you’d enjoy if you invested in one, read on.

Townhome communities are peaceful

Typically, townhome communities across the USA tend to be located in the city and also in the suburbs. As Minneapolis and St. Paul’s urban areas are always bustling, a lot of buyers are looking towards the fringes and outskirts, where most townhome communities are located.

Low costs associated with purchase and maintenance

If you want a property for yourself and your family but don’t want to spend a fortune, townhomes might be an option. As townhomes involve sharing walls with neighbors unless they’re detached. In some cases, the costs of a townhome can be lower than single-family properties.

Space-wise, single-family home definitely have more to offer, but with more space comes the need for more maintenance. However, maintaining a townhome in the Twin Cities is going to be far easier on your finances.

The benefits of living in a thriving region

The biggest benefit of buying a townhome in Minneapolis, St. Paul and the surround areas are that you’ll get to stay in a region that is thriving economically and culturally. The Twin Cities are top-notch when it comes to the arts, sports, and the food & lifestyle scene, and also the people of the region are extremely friendly and welcoming as well.

Minneapolis St Paul Brownstone Townhomes

The Difference Between a Twin Cities Condo and a Townhouse

Minneapolis St Paul High Rise Condos

The Twin Cities, Minneapolis – St.Paul structured around the rivers, namely, The Minnesota River, the St. Croix River, and the Mississippi River. The cities fall in the state of Minnesota and are called as such because they are both major cities of the state and are neighboring each other. The city of Minneapolis is the most populated in the state, and St. Paul is the capital of the state of Minnesota. Both townhouses and condos are a great choice of the residents if they’re looking for a residence with outside maintenance.

Condos

A condo or a condominium is a large building containing units. You may think of it as a huge complex of, say, anywhere from four to a few hundred units, maybe more, in which people may purchase a unit, or two. Typically, these complexes, especially the more enormous ones, have common facilities, such as a gym, indoor and outdoor pools, a sauna, party areas, roof top deck, tennis courts, etc… The smaller complexes obviously have minimal amenities, either owing to a lack of space or because these are lower in cost and also lower HOA fee. Condos typically have a security entry point, which is common. This is where mailboxes of individual owners are located as well. The type of accommodation that a condo affords is known as association living.

Townhouses

In cities like San Francisco, townhouses or townhomes are the staples where residences are concerned. This is more like a row house, as the structure is common to individual units, but the entrances are independent for each house. The garage is also separate and unique to each house. These normally include two or three-story buildings and can vary from four to twelve houses per structure.

Differences

The main way that townhouses differ from condos is in terms of the official definition of each kind of home. Regarding a condo, the owner owns the unit only and has a share in the use of common areas. In terms of a townhouse, the owner gets to own the land that the house is built on, as well as the land which occupies the garage, etc. Where amenities are concerned, a townhouse may have facilities of a shared guesthouse with its own swimming pool and gym, whereas condos have a common swimming pool, gym, tennis courts, etc. Indoors, there are differences as well – condos may have a shared heating system, but each townhouse will have its own furnace. High-rise condos have elevators due to their structure, but townhouses, built on two or three levels only, never do.

RE/MAX Results
Shannon Lindstrom, Realtor®, AHWD, GREEN, NCS
13784 83rd Way No, Ste. 200
Maple Grove, MN 55369
Direct: 612-616-9714
Lindstrom_S@msn.com
Shannon@ShannonLindstromRealtor.com
www.ShannonLindstromRealtor.com
www.ShannonLindstrom.info