Condo vs Townhome

Pros and Cons of Condos and Townhomes

When you go on your house hunting search, you’ll probably also come across lots of properties that are townhomes and condos. They can be a great option if it is the right fit for you and your lifestyle. If you are even considering a town home or condo instead of a single family home, think about a few of these things and hopefully it will make the decision making a little easier.

Do You Really Like Your Neighbors?

When you live in a condo or a townhome know that you will be having shared walls with your neighbors. If you disliked apartment living because you can hear your neighbors or they played music too loud, then you probably are not going to be happy in a condo or townhome. They are great for budget friendly people, but do you realize that you are not going to have a separate standing structure and you will be at the mercy of other people’s lifestyles. This is probably the biggest con of condo and townhome living and it is very important to consider. 

So Many Pros, So Little Time

Aside from the properties being a little more budget friendly, townhomes and condos have a lot of pros to consider. Usually, outside maintenance and lawn work is completely taken care of, so you’ll have a five-star landscape look for next to nothing. If something goes wrong with the roof or air conditioning, it is most likely covered and will be taken care of by a homeowner’s association or management. This is a great perk of being a homeowner without being responsible for everything and it could save you a lot of stress down the road. If you are someone that does not like the maintenance required of a house a condo or townhome might be a great fit for you.

Resale Value

Typically, townhomes and condos are built in very desirable areas. Real estate is all about location, so if you own a condo or townhome chances are the value of your property will go up over the years. Having a piece of property in a very desirable location is a great financial asset to have in your portfolio. It’s almost guaranteeing that your investment will be worth more later down the line, and who doesn’t love that?

Saving on Space, Saving on Money

Townhomes and condos are designed for efficient usage of space. Because they do not take up a lot of square footage this means that every square foot has to count. Sometimes in houses there are extra rooms, closets, and other areas that are a waste of square footage. This does not happen as much in condos and townhomes. So, you are really making every space work for you. This is a great use of your money while being efficient with your living at the same time.