Condo vs. Townhouse: A Complete Guide for First-Time Homebuyers

There are advantages to townhouses and condos: which is best for you? Deciding for first-time home buyers between townhouse vs condo is a hard note to beat. In this guide, we'll see the difference between townhouse and condo. Learn what the pros and cons are of each, as well as which property you should look to buy and which will suit you best.

Understanding Condo and Townhouse

Before comparing condos to townhouses, it is important to discuss what they are. While these two housing types attract similar buyers, there are two important differences between their structure and ownership rules. So, this section explains what is a townhouse vs condo.

What is a Condo?

A condo is a private unit inside a larger building or community. Individual owners of their units own condos, but collectively they all own common property like hallways, swim, and fitness centers. Homeowners' associations (HOAs) usually take control of these shared spaces and preserve community regulations.

Key Features of Condos:
The key features of condos include:

• A unit within an ownership range.
• Shared ownership of such areas.
• Maintenance and amenity fees are paid to your HOA each month.

What is a Townhouse?

A townhouse is not one flavor, it's a multi-level home, and there is more than one of every unit, except for the wall they share with the neighboring unit. Townhouse owners don't commonly only own the interior of the house but also the exterior and all land on which the house stands versus condos. Townhouses are often a group of row houses that often are similar to a single-family home.

Key Features of Townhouses:

Below are the key features of townhouses:

• The building and land are owned.
• Lower use of shared amenities.
• Usually, a planned community with some kind of HOA involvement.

With the descriptive comparison above, we hope that you understand what is a condo vs townhouse.

Townhouse vs. Condo: What’s the Difference?

There's so much difference between condo and townhouse including the cost and lifestyle impacts. However, ownership is the most significant difference here. This difference in how you own the property also impacts your control on the property and your privacy. So, here is a complete breakdown of the difference between condo and townhouse:

1. Ownership structure

The first difference between a condo and a townhouse is the ownership structure. If you live in a condo, you own your unit, but not the building, or land, it’s located on. The townhouse gives more autonomy, in that owners have the structure and the land.

2. Cost

The differences between the two starts with the purchasing price where the condos have low upfront purchase price as compared to townhouses. However. The HOA fee for condos is higher while townhouses face low to nonexciting HOA fees. When it comes to maintenance, townhouse owners are responsible for everything including the exterior whereas such expenditures are covered by the HOA for condo owners.

3. Privacy

Condos have less privacy because you don't have any walls, everything is shared with you, and you're with everyone, that's how a condo is. Then come the townhouses which are nice because you do have walls that are locked and locked, and if you have private yards or private garages, more privacy.

4. Shared space

Pools, lobbies, and other such extensive shared spaces are a part of a condo. Townhouses can only share walls and feel like a standalone home. This sense of sharing space creates a sense of community living for the condo owners. However, at the same time it can feel more crowded, and less peaceful during peak hours.

For townhouses shared space only includes playgrounds, sidewalks, and yard space. Hence, the control over your property is much higher with independent living experience. For this independence, townhouse owners sometimes have to give up on shared amenities and luxuries like pools, gyms, lobbies, etc. but it mainly depends on the location and community of their townhouse.

5. Security

HOA fees usually include gated entry to the building and on-site security. Individual measures of security are required more when living in townhouses. However, the generic security depends on the location and the type of people living around.

6. Amenities

Gyms, pools, and recreation rooms are common in condos. In the case of townhouses, you may have no shared amenities whatsoever. However, this can vary depending on the community and HOA rules.

Condo vs. Townhouse: Pros and Cons

There are unique advantages and disadvantages to both condos and townhouses. Now. let’s look at these, and see how you decide which one to pursue.

Condo: pros & cons

First, let us have a look at the pros and cons of condos:

Pros:

• Lower purchase price.
• Access to shared amenities.
• Much lower maintenance responsibility.

Cons:

• Higher HOA fees.
• Limited privacy.
• Dependence on HOA rules.

Townhouse: pros & cons

Now, let us move toward the pros and cons offered by townhouses:

Pros:

• More autonomy, more control over the property.
• Greater privacy.
• Potentially bigger living space.

Cons:

• Higher purchase price.
• More to be maintained.
• Less than condos, but also more than usual involvement with HOA.

Condo vs. Apartment vs. Townhouse: Comparison Table

When looking for property to buy, apartment vs condo vs townhouse is the comparison that confuses many people. So, we have compared the 3 options in these sections. The table below provides a comprehensive understanding of what each type of property provides.

Condo or Townhouse? Which One to Choose?

A true condo versus a true townhouse is a choice you’ll ultimately have to make, based on your lifestyle, finances, lifestyle, etc.

When to choose Condo?

If you are working with a small budget, a condo may be the better option to avoid the upfront cost. Condos are also great if you prefer low-maintenance living as exterior maintenance is most frequently covered by HOA fees.

When to choose Townhouse?

A townhouse is what many are looking for if they are seeking more privacy and autonomy. High-end amenities such as pools and gyms are offered from condos, whereas townhouses are more suited for those that don't require shared facilities.

Townhome vs. Condo: How to Improve Security in Both?

No matter if you pick a townhouse or a condo, security is something you need to be paying attention to. Here are some practical tips:

• Install video doorbells. These devices give you live monitoring, 2-way communication, remote alerts, and more.
• Upgrade door locks. If you don’t want to bother with smart locks, go with deadbolts.
• Use security cameras. Install cameras at entry points and ensure continuous surveillance. They also help to deter unauthorized people from entering your property.

Take a look at the new Reolink Duo 3 WiFi! With its 16MP resolution and dual-lens 180-degree field of view, you won't miss a single detail in front of your condo or townhouse.

• Join or organize a neighborhood watch. Keep the community safe together with neighbors.
• Invest in alarm systems. Add alarms that will notify you and the authorities when breached.

With these tips implemented, you can ensure that no matter what type of property you are choosing, you will keep it safe by all means.

FAQs

Is a townhouse worth more than a condo?

In many markets, townhouses have higher resale values because they tend to be land-owned and living spaces are larger. Hence, making them a better investment even when compared to freeholds.

Are condos safer than townhouses?

In most cases, HOA management includes more security features like gated entry or surveillance for condos. However, townhouses, too, can be as safe with individual security measures.

Why is buying a condo better than a house?

Lower purchase prices, almost zero maintenance hassles, and access to shared amenities. These are just a few reasons why condos are attractive to first-time buyers or those who want a hassle-free lifestyle.

Conclusion

Understanding the difference between condo vs townhouse is key when making the right choice as a first-time homebuyer. Condos are affordable, convenient, low-maintenance living; townhouses offer independence, privacy, and larger space.

So, make sure you assess your lifestyle, budget, and security needs before committing. How do you feel about townhouse vs condo? Let us hear about your experiences and insights below!