Lifehack logo

Condo, house, townhouse, or apartment – what’s the difference

Learn the difference between a condo, townhouse and an apartment before you consult top realtors in San Antonio for buying your dream house.

By Alex TurnerPublished 3 years ago 5 min read
Like

Hunting for a new house! Well, the journey of finding a new house is overwhelming, but remember you need to make several decisions on your path to ownership. From the location to price, preference, size, home maintenance, and lifestyle a lot of factors have to be considered before choosing your cozy place of abode. One of the most important questions is what type of home do you want to live in?

There are different types of real estate property to choose from. Your real estate search will extend from a Condo to a house, townhouse, and apartment. There are a few similarities as well as a few differences between these real estates. Consult top real estate agents in San Antonio and weigh the pros and cons of each type of real estate before making the final decision.

Let’s consider the features of each type of real estate to help you make an appropriate decision:

Condo:

A condo which is a shorter form for a condominium is a privately owned unit within a larger building or community. It can be a single unit in a high rise or a multi-story townhouse. When you purchase a condo, you own only your unit. The common areas such as the gym, pool, grounds, garages, elevators, outside hallways, parking areas as well as airspace are jointly owned with other owner-tenants.

A condo-owner is only responsible for maintaining and fixing anything that breaks inside his unit. Any leakage in the roof or repairs in the entryway, or exterior of the building is the responsibility of the condo association. Also, mowing the lawn, cleaning the entryways and common areas, picking up trash, and snow removal are all handled by the condo association. Some condo buildings also have a security guard to provide extra security. Thus, a condo is the best option for old couples, singles, first-time buyers, and those who frequently travel.

A condo for sale is usually cheaper than a house or a townhouse as you own only the individual unit. The land on which the condo sits, as well as the surrounding areas is not owned by you. Condos are cheaper in terms of taxes too. But as a condo owner, you have to pay a condo fee each month for using the amenities. Condo fees are usually high as it also includes fees to cover exterior repairs. This fee can vary from year to year depending on the maintenance cost incurred each year. The homeowner’s association also lays certain rules and restrictions which you need to follow. As a condo owner, you may not be able to customize your unit according to your whims. Also, you may be restricted from renting out your condo as per the HOA rules.

Houses:

A stand-alone house also referred to as a single-family home is a free-standing, single-dwelling residential building. It is an independent residential structure with unshared walls and unshared utilities that sits on its land. A single-family home can be single-story or multi-story with a basement or attic space. As there are no neighbors you enjoy more privacy as compared to condos and townhouses.

You also have extra exterior space such as a yard for your children and pet to play around. Unlike a condo-owner, a house owner has the freedom to design, alter, and maintain its interior as well exterior according to his whims and fancies (within the limits of local building ordinances.) As you own the land as well as the exterior space, single-family homes are costly as compared to condos. Also, you are responsible for repairing and maintaining the structure. Mowing the lawn, shoveling the snow, cleaning the area, and picking the trash also have to be handled by you.

Another important point that needs to your attention is that unless a detached house is a part of a community, a single-family home does not have amenities such as a pool, gym, tennis court, etc. that comes with a condo or a townhouse.

Townhouses:

Townhouses are multi-story buildings that have entrances with one or two shared walls with the neighboring property. The units have a uniform look and are architecturally similar to a row house. Townhouses also have additional extra exterior space such as a small yard or a patio. Townhouses community also has amenities such as a pool, gym, tennis court, etc.

Similar to a condo, maintaining the exterior is the responsibility of the HOA. Also, other responsibilities such as mowing a lawn, shoveling snow, and cleaning trash are handled by the HOA, so you need to pay certain HOA fees. The HOA fees depend on the age of the property as well as the amenities offered.

So when we compare townhouses with a single-family home and a condo, townhouses are much cheaper than a house and at the same are more spacious than a condo. Also, the townhouse has fewer HOA restrictions regarding designing and modifying the interior. Townhouses are ideal for people who want a larger space with less responsibility for upkeep.

Apartments:

Apartment buildings comprise several units. These individual units cannot be owned, they can only be rented. A property management company usually rents out apartments. Apartments are usually smaller in size with flexible floor designs. They are also equipped with the best amenities such as rooftop balconies, pools, onsite parking, fitness centers, entertainment areas, and more. It is cheaper to rent an apartment than buying a single-family home.

All repairs and maintenance are looked after by the Property Management Company and you have no burden of paying any property tax and maintenance fees. Similar to the condo, renting an apartment restricts you from making changes in the interior of the unit. Also, landlords can impose restrictions on keeping a pet. The main point that makes an apartment different from a condo, townhouse, and single-family home is that since an apartment is rented it builds no equity. Apartments are best suited for an individual with fewer funds and who wants the flexibility of moving out after a certain period.

Bottom line:

Now as you are clear about the different real estate properties, make the right choice for your cozy abode. Base your decision on the funds available, space requirement, and flexibility. Visit open houses and with the help of a San Antonio realtor ease your home buying process. As per your choice of dwelling, top realtors in San Antonio will limit your search by showing you condos, houses, and townhouses for sale near you.

house
Like

About the Creator

Reader insights

Be the first to share your insights about this piece.

How does it work?

Add your insights

Comments

There are no comments for this story

Be the first to respond and start the conversation.

Sign in to comment

    Find us on social media

    Miscellaneous links

    • Explore
    • Contact
    • Privacy Policy
    • Terms of Use
    • Support

    © 2024 Creatd, Inc. All Rights Reserved.