Real estate offers a wide range of opportunities to many potential home buyers. However, buying a house has never been an easy process. In most cases, prospective home buyers are stranded between purchasing a condo or a townhouse. The following is a comparison between these two real estate ventures.
There exists a huge difference between a condo and a townhouse when it comes to price comparison. For instance, condos are cheaper. This can be attributed to the fact that condos come with no land and the fact that exterior sections of the units are collectively handled by all condo owners within the community. The HOA fees in a condo cover the community as a whole when it comes to fix and flip maintenance services. On the other hand, townhouses have their own land, and the owner entirely does the maintenance services.
A condo is a unit that lies within a much larger complex where ownership can be individually-owned or shared among other individuals who own the units. Townhouses, on the other hand, can either be rented or purchased depending on the preferences of the buyer.
Architecture and Amenities
Real estate houses have different designs. Condos are usually built within a complex, and they take the form of an apartment. A townhouse as the name suggests is a fully-condensed single house which usually consists of a two-story building. Apart from this, townhouses have a smaller back and front yard.
Right to Ownership
With a condo, you have the freedom to renovate the house. Apart from this, no form of rent is increased once the product has been purchased. With townhouses, it becomes hard to undertake fix and flip services or avoid rental increment. This is because the townhouses cater for both the buyers and the renters.