Getting a house of your choice may prove to be a difficult process. When it comes to choosing a simple, easy to maintain, up-to-date, and affordable house, you often have only two options i.e; Condos and Townhouses. These two may sound similar but they do have some subtle differences which you might want to consider while getting a house for yourself. And, when a person is caught up in this dilemma, the real estate jargon can complicate the things even further.
This is why we’re here to help you in the selection of your dream home. But before discussing the key differences you need to know what actually a condo and a townhome are.
What are townhomes?
Townhomes are single-family based homes whose residents are the owners of the home and property. townhomes do not contain units.
What are Condos?
Condos i.e. condominium are a single-residential unit existing in larger multiunit buildings or communities. Condo owners share areas such as garages, swimming pools, amenities, and other common facilities maintained by Homeowners Associations. Residents are not the owners of the property.
Condos vs Townhouses
Ownership:
In condos, the residents are not the owners of shared spaces. They are the owner of things inside their walls i.e. interiors. All other things are owned by HOA.
In townhouses, the residents are the owner of their homes including all the interior and exterior except the community areas.
Structure:
Condos are units of a multiunit building with lush green parks, amenities, and transit services, etc. they are beautiful apartment type units containing mesmerizing architecture. Condos locations are the main reason for their popularity.
Whereas, townhomes are narrow but tall two to three-story buildings which are more like homes and share walls with other homes. Similar townhome with attached walls is present in rows.
Homeowner association:
HOA in condos is responsible for all types of maintenance including the exterior, shared areas, parking, garage, laundry rooms, etc. they take care of all the amenities and take proper HOS fees for their services.
In townhouses fewer services are maintained by HOA that’s why their fee is typically lower. But townhouse owners have to take care of other things on their own.
Security:
Condos are considered more secure because of automatic door locks and security services provided by the complex.
Townhomes are less secure as compared to the condos. Owners have to take care of their home’s security.
How to pick between the two
“Buyers should consider their budget and lifestyle, as well as their desired amount of involvement in home maintenance when it comes to deciding which style of home they should focus their search on,” says John Ameralis, founder of The Ameralis Team.
If you’re looking for an affordable and secure home then you should definitely go for a condo. As it has several benefits including:
- Perks of having a community
- Low maintenance cost
- Security
- Beautiful location
- High amenities
Good places to look for a Condominium in Toronto
If you are looking for luxurious condos with mesmerizing views and containing all types of amenities then you should consider looking for a condo in the following places:
- Shangri-La Condos
- Brightwater Condos
- Yorkdale condos
- Rigz Carlton
There are many affordable yet divine Condos in Toronto present at breathtaking locations. If you’re looking for such condos you must consider Yorkdale Condos as your next home. Present at the center of amenities like transit, educational institutes, shopping malls, and restaurants, Yorkdale Condos provide ultimate living goals to their residents.
