2007-10-30 10:38:51 · 5 answers · asked by dvdflyerdevin 2 in Business & Finance ➔ Renting & Real Estate
They are similar in that both have Homeowners Associations with rules and by-laws, and maintenance fees. A true condominium is a unit inside a building, usually multi-floored, very similar to an apartment. The entrance is indoors. A townhouse is a unit in a building of two or more units, with each unit sharing at least one common wall with a neighboring unit. The entrance is outdoors, just like a regular house, and the units can be from one to three (or more) levels. With a townhouse, you actually own the land the unit sits on, and jointly own all of the common areas with the other owners. In a condo unit, you 'own' your unit, but do not own any land by yourself.
2007-10-30 10:52:17 · answer #1 · answered by curtisports2 7 · 1⤊ 1⤋
A dwelling unit can be defined as a standalone place of residence. That is, it has all of the accommodations of a basic place of residence, including a bathroom, and it has its own unit address or number. This is opposed to a room or part of a dwelling unit for rent, where part of the main residence is shared. A condo is a multiple dwelling unit (more than one dwelling unit in one building) that is individually owned. A duplex is a building that has two dwelling units in it. A town house is similar to a condo. But, it's generally a two-storied multiple dwelling unit where there are two to four units per building. A cottage is a small single-family residence, usually only a few to several hundred square feet and square in shape on the outside perimeter. An apartment is a multiple dwelling unit in a building where the building is owned by one entity. However, in some places like New York City, an apartment is like a condo, in that it can be privately owned.
2016-05-26 03:15:35 · answer #2 · answered by ? 3 · 0⤊ 0⤋
A condominium is the whole collection of individual home units along, with the land upon which they sit. A Town House is detached single-family houses.
2007-10-30 12:16:56 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Usually condominiums are all on the same floor. A townhome generally has multiple levels and even a garage.
Both generally have some common grounds and associations.
2007-10-30 17:21:13 · answer #4 · answered by Hatlady 3 · 0⤊ 0⤋
a condo is more like an apartment or a small size than a town house. a town house is also usually more than one story where a condo is just one.
2007-10-30 10:42:28 · answer #5 · answered by Anonymous · 0⤊ 1⤋