Planning your next living to invest in a new townhouse or in a condominium? For the first-time buyers of a townhouse or a condo, several considerations need to be analysed first, before you pull the trigger off. Out of the scope of living in a single-family home right now, the other two options are left for living in either luxury condominiums or new townhomes. But one question that is likely to bother you is which option to pick. Is townhouse living better than condo or is it the other way around? When you are focusing on your living parameters, it is necessary to develop a clear understanding, of what a townhouse is and how it differs from a condominium.
Already living in an independent townhouse in Kelowna, Canada? So, you might not know much about new townhomes in Kelowna or the luxury condo housing available, there. The truth is that more and more homebuyers today are forgoing single homes in favour of community-style living as in condos and townhouses.
Before going on for any one of the housing options, here are the differences you should be aware of as a customer, between townhouses and condos. Also, how much you should prepare yourself to spend, and what kind of responsibility you need to take on, after buying.
What Is The Difference Between Living In A Condo And A Townhouse?
The Basic Difference In Ownership And Structure
Townhouses and condominiums both allow you to own a home but you will experience a difference as a homeowner in terms of what and how much you need to pay and the parts of the property you need to maintain. Generally, the condo owners own an individual unit within a large complex while in townhomes for sale in Kelowna, you may share a wall with the neighbours. However, the structure of the townhouse belongs to the owner along with the surrounding land areas. Need a clearer breakup? Look, at what we suggest for you
- Owning a condo is like living in an apartment where you own the space within the walls only and nothing out of it. So, everything outside the unit like the exteriors and the common areas belongs to the entire community and not to any individual living in the condominium
- Townhouses, on the other hand, are similar to traditional homes but they have multiple levels with front and backyards. Typically, they appear as rows of narrow homes attached with one or two walls.
The townhome owners basically own the exterior and interior of the homes. Also, the land on which it is built. So, the townhouse owners are responsible for the entire upkeep of the property, both the outside and inside.
Amenities
Another major difference between a condominium and a townhome is the amenities they offer. While the amenities may differ by building or community, the condos generally have more modern amenities like pools and gyms that the residents of the building can share. On the other hand, amenities are fewer in townhouses. Many of them have a playground, clubhouse, pool, or other amenities. However, several newly constructed townhomes also offer resort-style amenities. Some of them may offer facilities like private gyms and tennis courts.
Cost
Are you searching for Kelowna new homes for sale? Investing in a condo may be less expensive as they tend to be smaller than townhomes. However, condos will have higher monthly HOAs due to the array of amenities they offer. The HOA fees of townhomes are generally lower. Dilworth Homes has been around with trailblazing homes for over the past 30 years and offers the highest level of customer satisfaction. Trust them to personalise your home like never before.
Privacy
One of the key differences between townhomes and condominiums is privacy. Both properties will have less privacy compared to single-family homes. But if you are not much of a private person, you will feel happy about paying less for maintenance. But if you want to avoid the disturbance of noisy neighbours or need a private yard space, a townhouse is generally more suitable than a condominium. Moreover, you will have a yard that is separate from the common amenities where your kids and pets can enjoy playing.
Rules
Generally, the rules and regulations in condos are stricter than in townhouses, primarily due to the role of the HOA. Although there are pros and cons to having rules a lot depends on what your preferences are as a homeowner. If you prefer more freedom with landscaping and property, the townhouses in real estate are your bet. However, assigning the maintenance of the parking spaces and the surrounding areas to the HOA may mean that you will have less freedom to alter the property based on your tastes. You can discuss with Kelowna home builders about your choice of investment and get meaningful insights to pick the right kind of housing.
Condos offer a great buy for those who value their private space only, but townhomes are ideal for those who need a bit of a separate home and also want to enjoy the benefits of community living.
