Whats the difference between a townhouse and a condo?

Question

Whats the difference between a townhouse and a condo?

Answer 1

Townhouses run side by side (attached) and are two or three stories.  Condo's are individual apartments withing a larger building, and are only on one floor, so you could have other apt's on each side, and above and below you.

Answer 2

i think with townhouses, you rent, and with condos, you buy them.... i honestly dont know... thats just what i assume!! lol

Answer 3

The basic difference is that a townhome usually has private entrances and may occupy two or more floors, while a condo is configured more like an apartment.

The other important difference is what you own with each type of housing. With a townhome, you own everything except the outside of the outside walls. With a condo, you own everything within the interior walls, including the sheetrock. This has an effect on your ownership responsibilities.

Answer 4

Townhouses are simply houses with adjoining walls. You own the WHOLE thing, including the exterior walls, as well as the land under your townhouse and possibly a front and back yard. Usually there will be a homeowners association that may provide outside maintenance and control appearance issues.

A condominium is like an apartment. Generally you own everything from the sheetrock inwards. A condo board takes care of maintenance, etc. Either a condo or a townhouse can be rented or purchased.

The previous answer about a "co-op" is wrong. In a co-op basically everybody owns a share of everything. That doesn't mean that other residents can come into your place but they do have the power to decide whether or not to allow you to purchase an apartment in their building or who you may sell to.

Answer 5

The difference is mainly the setup;

townhouses are (usually) several floors of living space, but are joined on either side by other peoples' places (think..small 2-story single family house, connected on either side by other 2-story single family houses) Kinda like row-houses.

condos are basically "glorified apartments", also called co-ops..where you actually OWN your apartment, rather than lease or rent.

Answer 6

townhouses generally have side walls shared with a neighbor.  Condos are more like apartments where you could also have people upstairs & downstairs.