Are you confused about

the differences between a

condo and a townhome?

You're not alone!

It used to be that condos

were apartments owned by

the person who lived in

them.

A townhome, or

townhouse, was one of

several connected

dwellings lined up side by

side.

Today's definition

of condo means

any individually

owned

subdivision of a

larger structure

owned by another

entity.

There are

apartment

condominiums.

There are

townhouse

condominiums.

Let's talk about the pros and

cons of each of these, and to

make it easy we'll just refer to

them with the good old-

fashioned words, condo and

townhome.

But it's so hard to choose

between them!

If you buy a condo,

you are basically

buying the living

space.

You won't own the

walls-because the

walls are part of the

exteriors that are

owned by another

party.

The most expensive

condos are those on

the top floor of the

building because

then you have no

neighbor above you.

Almost equally desirable is any

unit on the bottom floor of the

building, because there's no one

below you.

Because one person's floor might

be someone else's ceiling, condo

rules often call for noise

restriction.

Sometimes you have to cover a

certain percentage of your floor

space with carpeting.

If you buy a townhome,

you're buying a dwelling

from top to bottom.

On your sides, the walls

are considered to be the

property lines.

It extends in the front and

back to its property lines.

Condos tend to be a

little more restrictive

about pet ownership.

Many condominium

developments identify

some units for pet

owners and others for

non-pet owners.

That means you have

to decide before you

buy if you want a pet

or not.

Part of the fee goes

toward insurance just

like townhomes, but it's

usually a bigger fee.

Condo buildings offer

laundry facilities, party

rooms, exercise rooms

or saunas, or other

amenities that are fee-for

use, but which have to

be covered in the event

of disaster.

Both townhomes and condos

come with association fees.

Potential buyers need to

consider that those fees take

the place of maintenance costs

they would incur if they owned

a house.

Association fees charged to

townhome owners are

generally less.

They cover things such as

snow removal or lawn care,

trash removal, and a fee for

hazard insurance in the event

that some catastrophe ruins

the entire complex of homes.

Fees paid by

condo owners are

a little higher

because they

cover everything

we mentioned

plus heating,

water, and

sewage.

They cover

maintenance of

shared amenities

such as a pool or

tennis courts.

Making your decision

really is a process of

narrowing down what

you want, because for

each pro that you

identify you also get a

con.

Your choices affect one

another like dominoes.

What's your available money? The purchase price of

a condo is generally less than that of a townhome.

And that relates to...

Space:

The condo is smaller. A townhome has two or

three levels.

A condo has a storage bin.

A townhome usually has a basement.

Even when the square footage is just about even,

the concept of having multiple stories just seems

like more of a luxury.

Association fees:

The condo comes with higher fees. And this

correlates with...

Maintenance responsibility: The townhome has more maintenance responsibility to offset the lower fees.

Autonomy:The townhome wins here if you want todefer your decision on pet ownership, or ifyou don't want someone dictating your flooror wall covering choices. And that ties into...

Amenities:You have more autonomy with a townhome,but you won't get the amenities of a condo.

FOR MORE INFORMATION

ABOUT

COLORADO REAL ESTATE,

PLEASE CHECK OUT

FORT COLLINS REAL ESTATE.

www.AutomatedHomeFinder.com