Buy A Condo Or Townhouse
In the urban setup, most people buy condos and townhouses.
The two have many advantages but they also have faults:
Cost of buying.
Condominiums are cheaper than townhouses on the purchase value. Since a condo is a piece of a large apartment, it goes for a lower price because it occupies lesser space. A townhouse is more expensive since it includes the land around it. The cost of living, size and property value of the neighborhood also determine the cost.
Townhouses have more space.
The yard around the house and fewer neighbors provide more space compared to condos that have different owners sharing the hallway, entrance, staircase, pool and other amenities. One can mow the garden and design the space around a townhouse but a condominiums space is limited.
Privacy can be an issue in condominiums since you share walls with other neighbors.
You will probably meet other tenants in the laundry or swimming pool but homeowners have private space. The house and its surroundings belong to the homeowner. Any trespass is illegal and the owner can to use force against intrusion.
For rental purposes, condominiums are hot cakes.
Most people would prefer to stay in a fully furnished condo at a cheaper price and convenience rather than a townhouse that will probably be more expensive. A person working will need just a place stay with enough space not too much space like double bedrooms meant for families.
Tax and fees.
Condo owners have to pay property tax yet they don’t own the land they sit on. An assessment fee is also a necessity since the space around and even inside the apartments must be maintained. Homeowners Association(HOA) fee, paid monthly, is also inclusive. Townhouse owners will only pay property tax and maybe garbage collection fee.
Townhouse home owners are free to alter the structure, painting and yard around the house but condo owners have to adhere to the rules laid by the governing body. Pet restrictions, hours for common areas and decoration restrictions are some of the headaches in condos.
Resale of a townhouse is much easier than a condominium.
Maintaining a house is always considered the priority of a homeowner therefore most people trust that buying a townhouse second hand is safer than buying a condo that has been used.
Safety and security.
This is a very huge factor to consider when buying one of the two. Condos have better security with good neighbors but this is not permanent since many people move in and out of this buildings. Townhouses may also have electronic lock systems and video surveillance but isolation makes them prone to attacks too.
Categories: Buying Guide
Buy A Condo Or Townhouse
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