The fundamental contrast between living in a townhouse or a condo is space and common elements. Townhomes typically have more rooms. They frequently incorporate yards that provide additional outdoor space for you and your pets.
Here are details in regard to the differences.
1. You’ll Experience More Community in Condo Living
In a condominium, running into your neighbors is a characteristic part of life. You’ll probably pass each other as you venture to and from your condo unit and/or use the common shared amenities.
Pro: It’s a great way to meet people in the building
Con: Privacy. More people less privacy.
2. You’ll Have More Privacy in a Townhome.
Do you feel like you’re living in your own home, not directly down the corridor from numerous neighbors? You prefer to enter and leave your home without elevators and with fewer neighborhoods coming and going. You may favor townhome living.
Additionally, a townhome might be a better choice if you prefer more square footage than a condo. However, you might not have any desire to deal with the upkeep of a larger property; a condo might be a better alternative.
Pro: Less neighbors. More Privacy.
Con: You may feel less associated with your neighbors, since there are less units which means less people.
3. Condominium HOA Monthly Fees Verify Depending on Shared Amenities
The HOA monthly fees may be higher for a condominium than a townhome. Especially if the condo development has more shared common elements, which can make a difference pertaining to the HOA’s upkeep. In some cases, maintaining more shared amenities can result in a higher HOA monthly fee.
Townhomes typically have less shared amenities than condominiums.
Pro: More shared amenities.
Con: An increase of shared amenities means possibly higher HOA monthly fees for the maintenance, etc..
4. You’ll Have to Meet Certain HOA Standards if You Live in a Townhome
If you live in a townhome, you may not interact with your HOA as much as you would in a condo, but you’re not completely off the hook. A townhome HOA’s primary role is to preserve and increase the market value of the development, such as by maintaining the yards, roads, etc.
As a result, they have rules and regulations about landscaping, decorations, paint color, upkeep, and anything else that might affect the desirability of the townhome development. While they won’t have much say pertaining to inside of the townhome, they will care about anything you do outside your walls. However, if you modify the structure walls in the townhome, the HOA may require an architectural approval from the management board.
For example, let’s say you want to switch out your mailbox for one that better fits your unique style. Better check with the HOA!
A reasonable HOA won’t try to control your life. They’ll just work to avoid situations in which one person’s unusual taste diminishes their neighbors’ home values.
There has been few HOAs that did have some issues with management, etc. Before buying, ask people who live there if they’re happy with the HOA. Also, look into what services the townhome HOA provides and the cost of the HOA as compared to other neighboring developments in the area. The last thing you may want to do is put your hard-earned money toward an organization that doesn’t use it well. Remember, the HOA is supposed to assist with maintaining/managing the townhouse development.
Pro: An HOA can increase the value of your investment.
Con: You might have to put up with ridiculous rules and pay for services you don’t really need.
If you’re looking to buy or sell a condo, a townhome, or a single-family home in the Twin Cities, or the surrounding areas, please feel free to call, text, or email Shannon at your earliest convenience. Search properties listings @ https://shannonlindstrom.results.net/.
Shannon Lindstrom, Realtor®, AHWD, CRS, GREEN, MRP, VCA