Generally, when you’re in the market for buying or renting a new home, seeing all of these different words can be confusing. Did you think a condo was just an apartment? Are you confused by duplexes and townhouses? Well, you’re not alone.
The names of different types of houses and housing units can be confusing. The easiest way to make things clear is to break down each one and compare the differences. This way, you always know what you’re getting.
What Is an Apartment?
An apartment is a lot like a condo. Each family has its own living space that isn’t accessible to anyone but them. However, the building is owned by a landlord to who you pay rent to. You can’t normally buy your own apartment.
In a condo, there are different rules as you do own the area you live in, just not the land. The rules are usually just city or district codes. In an apartment, you follow the rules that are set by the landowner.
You have very little say, but also very little responsibility with an apartment. You follow the rules, take care of your own unit, and do things very similar to the way they are done in dorms for college kids.
What Is A Condo?
A condo, or condominium, is a building that has many different living areas in it. Each area has its own entrance, even if to a hallway, and its own amenities, such as bathroom and kitchen. It is very similar to an apartment.
The difference is that in a condo, you own the area that you live in. While you can rent a condo, in most cases, you will buy it instead. When you do rent a condo, you’re renting the area that one person owns rather than renting from the building owner.
Condos aren’t owned by one person; they are owned by the community. They are owned by the tenants collectively. While one person may have purchased it to begin with, contracts ensure equal rights within the community.
What Is A Townhouse?
A townhouse is simply a house that is sandwiched by two other houses. There may be a backyard, but there is no access to the exterior sides of the house. The house on Full House is a townhouse if that helps.
A townhouse can be rented or owned and can even be turned into a duplex. It is simply a style of house instead of a type of housing. However, townhouses and condos can look very similar upon first glancing at them.
But townhouses always have two walls covered by other buildings. Whereas condos aren’t about what they look like but rather how they are used. Condos are like apartments while townhouses aren’t associated with apartments.
Differences between A Condo And A Townhouse
Now that we’ve got the simple differences and definitions explained, let’s take a look at the more technical differences. Instead of looking at the pros and cons, let’s take a look at the facts so you can decide for yourself. Keep in mind that what is right for you may not be right for someone else, and vice versa. Taking advice from friends is great but a condo may be perfect for them while a townhouse is more your style. Helping you find the answer is our purpose here.