Condos vs. Townhomes: Which Type of City Living Is Right For You?

September 5,2018 | By Hillel Realty Group

Condos vs. Townhomes: Which Type of City Living Is Right For You?

If you are ready to buy or rent in New York City, deciding between a condo and townhome may be a tough decision. At first glance, they don’t seem much different since both are great options for city living and cost less than buying a house. But, there are a few differences you should be aware of before deciding which complex is best for your lifestyle.

Understanding Condos
A condo or condominium is an individual unit in a building or community of buildings that are owned by the resident. Depending on their location, condos vary in style and size and can range from apartment-like layouts to single-family homes. While the resident owns the unit, they don’t own any outside property. Some individuals enjoy not worrying about snow removal or lawn maintenance, making condo living the perfect option.

The lawn, shared spaces, and the exterior of the building are maintained by a homeowner’s association or HOA. The homeowners association is a mini-government that manages the condominiums based on a set of established rules and regulations. Sometimes these regulations prevent condo owners from making changes to the property, so the aesthetics of the community are maintained. Condominium owners are expected to pay an annual HOA fee to cover maintenance and property upkeep.
The biggest benefit of choosing a condo is having more freedom to enjoy your daily life. Condos are an excellent option for individuals highly active in their careers or other activities and can benefit from not having to complete weekly maintenance chores.

Understanding Townhomes
A townhome is a house that shares walls with at least one other home and look identical to one another. As a townhome owner, you own the interior and exterior property including the yard and roof. Townhome communities are typically managed by a homeowner’s association as well, and residents are expected to follow established ordinances for the community.

Since the homeowner is responsible for maintaining the exterior of the home, the HOA fee is typically less than that of a condo. These fees are used to maintain common areas including community playgrounds, walkways, and pools. Some individuals prefer to buy a townhome because they have more ownership of the entire residence.

The biggest benefit of choosing a townhome is having more freedom to make changes to your property and create a welcoming exterior. Townhomes are a great option for individuals that plan to entertain or spend time outdoors because they actually own their backyard and don’t have to share the space with the rest of the neighborhood.

Condos versus Townhomes
Deciding between a condo and a townhome comes down to knowing what type of life you plan on living in the city. If you don’t want to worry about ongoing upkeep, then a condo is a better choice. If you prefer to have more control over your property, a townhome is right for you.

If you need help deciding between a townhome and condo, contact the Hillel Realty Group to schedule an appointment today.