What Is a Townhouse vs. a Condo & How To Decide What’s For You
There are so many different types of housing. While that is great in a number of ways, it also can be quite confusing. There are two house types that can be similar in some ways but aren’t necessarily the same: townhouses and condos. A home can technically be both, but not always. So what is a townhouse vs. a condo and what are some of the benefits of each? That is something we will explore.
Being property managers in Boston, we pretty much see them all. Boston’s housing types are diverse and interesting. So that comes with a certain amount of explaining that is needed to make sense of all these words being thrown around. Let us go down that road as a way to understand the differences between these unique housing types.
Table of Contents
- What Is a Townhouse and What Is a Condo?
- Key Differences
- How To Decide Which Is For You
- How Can a Property Manager Help?
What Is a Townhouse and What Is a Condo?
A townhouse generally refers to a style of multi-floor home that shares one or two walls with adjacent properties. Each has its own entrance and often a small front lawn and backyard as well. As the name suggests, townhouses are typically designed for high-density, urban environments. They are often tall and narrow, so they likely have multiple floors and each floor is on the smaller side.
On the other hand, a condo (that’s short for condominium) is a type of home divided into multiple units that are each separately owned. It’s more about ownership rather than the style of the home. They usually involve common areas that are jointly owned and accessed by other people living in the same condo complex or building. For example, a condo may have shared hallways, pools, and gyms. This setup allows for a blend of private ownership and shared amenities, often managed by a homeowners’ association (HOA).
Townhomes are a style of a home, while a condo designates what kind of ownership the home has. So technically a home can be both at the same time. Describing a home as one does not mean it is not the other.
Key Differences
One healthy way to think about the different housing types is to make a table. Put townhomes on one side and condos on the other and list the differences side-by-side. That can make it a little easier to determine what type you might prefer. Ultimately, determining what is a townhouse vs. a condo comes down to a lot of specific differences.
| Townhouse | Condo |
|---|---|
| A townhome is part of a larger building and could have ownership separate from the rest of the building or not. | A condo is a unit of a larger building or complex that is separately owned. |
| A townhome shares walls with adjacent units and has separate entrances. | A condo may or may not share walls with other units and may or may not have separate entrances. |
| While not always the case, townhomes are often larger based on the fact that they are on multiple levels. They are also synonymous with city living, though that is not always the case either. | Condos are often smaller than townhomes. They are slightly more common in urban areas also, but in those cases, they are often found in very large buildings and not necessarily having direct access to the ground level. |
How To Decide Which Is For You
When asking what is a townhouse vs. a condo, the inevitable question becomes which you would prefer to live in. Choosing between them involves considering a number of factors, so it isn’t an easy decision. Townhouses sometimes offer more space and privacy since they are multi-level homes with their own entrances… they often include a small yard that condos won’t necessarily have. Additionally, townhouses usually have fewer shared walls compared to condos, which can mean less noise from neighbors. Condos can sometimes not only have people on one side or the other but also above and below!
On the other hand, condos often come with amenities that townhomes don’t always have such as pools, gyms, and security services. They are often easier to maintain since the homeowners’ association (HOA) takes care of maintenance and common areas… though again, these things can vary since a townhome could have an HOA. Condos could have advantages for busy professionals or those who prefer a low-maintenance lifestyle.
Financial considerations also play a role in this decision. Townhouses might have higher initial purchase prices but lower monthly fees compared to condos. Conversely, condos might be more affordable upfront but come with higher HOA fees. As you can see, there is a lot to consider. What is a townhouse vs. a condo becomes a tricky question to answer definitively, since there is a lot of overlap. And, of course, each person’s priorities are different.
How Can a Property Manager Help?
Knowing what to expect with townhouses and condos can help you make the best housing (and investment) decision for you. After all, each property type has different budget considerations, tenant types, and management needs. If you’re asking yourself what is a townhouse vs. a condo, you’re trying to weigh important distinctions that determine your future. So, you’ll want to be well-equipped for whatever property you buy, especially if you’re using it as an investment or rental property.
If you need help managing your residential or multi-family rental property, consider enlisting the help of Bay Property Management Group! As property managers in Boston, we provide full-service management to rental owners throughout the city as well as in locations such as Atlanta, Baltimore, Philadelphia, Northern Virginia, and Washington, DC. Contact us today to learn more about how we can help your business succeed!
