The Difference Between a Condo and a Townhouse
A key difference between condos and townhouses lies in ownership: condo owners only own the interior of their unit, while townhouse owners own both the inside and outside of their home, including the land it sits on.
History Of The Condo
Condo is short for “condominium.” The word comes from Latin: “con-” meaning “together” and “dominium” meaning “ownership.” It essentially refers to joint or shared ownership, where individuals own their private units and share ownership of common areas.
Graystone Manor, built in 1960 in Salt Lake City, Utah, is often cited as the first modern condominium in the United States. However, historical records suggest that similar arrangements may have existed earlier — including examples in New York City in the 1800s.
Condos can range from high-rise buildings with many units to low-rise or even one-story row-style homes. They became especially popular in the United States in the 1980s, particularly in urban areas where land is limited and vertical construction makes more sense.
Today, condos are a flexible property type: you can buy and live in a condo, or purchase one as an investment and rent it out. Many investors list condos on short-term rental platforms like Airbnb, especially in cities with strong tourism or business travel.
History Of The Townhouse
The townhouse debuted in London and Paris in the 1600s. The word “townhouse” originated in early England, where it referred to a dwelling a family kept “in town” when their main residence was in the country.
Townhomes later emerged in the United States after Europeans immigrated to New York City. Townhomes became a form of middle-class housing. Today, townhouses provide housing to those who want to live in urban areas or large cities. Since these homes share at least one wall with neighboring homes, they maximize acreage, allowing more housing in areas with less space.
A condo, or condominium, is a building that has many different living areas in it. Each area has its own entrance, sometimes through a hallway, and its own amenities, such as a bathroom and kitchen.
The difference between a condo and an apartment is that you can purchase a condo rather than only rent it. Condos and apartments look very similar.
Each unit has an owner, but the building is owned by the condo owners. Contracts ensure equal rights within the community.
Some condos come with amenities like tennis courts, fitness centers, and swimming pools. Owning a condo requires paying a monthly condo fee. These fees pay for the amenities and the maintenance and repair of the building and lawn. Owning a condo also involves paying a mortgage, property taxes, and homeowners insurance.
Difference Between A Condo vs Townhouse
Here’s a look at some of the biggest differences between condos and townhouses.
Responsibilities
A condo owner deals with fewer responsibilities because their property is part of a building. On the other hand, a townhouse owner is typically responsible for the maintenance of the exterior of their home and landscaping. Condo owners don’t need to worry about exterior repairs, mowing, or maintenance of any amenities.
Fees
A townhouse owner might have to pay HOA fees, but a condo owner will always pay condo fees.
Shared Spaces
Condo owners have full ownership of their unit yet share joint ownership of the building. Condo owners have common areas with other building residents. Before you move in, make sure it’s the right fit.
As a condo owner, you own part of the gym, pool, and any other amenities like trash pickup, snow removal, and snow plowing. You even own part of the hallway, yard, and airspace.
In a townhouse, you’ll share a wall with neighboring homes, but there are no shared common areas.
The Right Fit
Condos are great for those who don’t want to perform any maintenance, are looking for amenities, and don’t mind shared common areas. Higher-end condo buildings often provide security as well.
Townhomes are best for people who want their own plot of land and a home setup similar to a detached style. The downside is that townhomes come with more maintenance.
Communities
Even with HOA involved, you’ll have more community living in a condo. On that same note, you’ll have more privacy in a townhouse. Each of these has a list of pros and cons.
If you have children with who you want to interact with other children safely, a condo may be great because you can keep it local. However, forced interaction may happen with a condo which isn’t great if you value privacy.
Yard
If having your own yard is important, don’t even consider a condo. You have a courtyard, but it’s shared with other tenants. If you choose a condo, you won’t have any personal outdoor space. When it comes to townhouses, you can have your own backyard and occasionally a small front yard.