Difference Between Condos vs. Townhouses vs. Detached Homes
One of the first choices you have to make when deciding to buy a home is what type of home you want to purchase. Do you want to buy a condo or co-op, a townhome, a detached home? This is one of the first choices you’re going to have to make as a buyer.
I personally cannot make that decision for you, but I can help with explaining the differences between these types of homes, so that you can make a choice that works best for you.
Let’s start off with the two most uncommon home types: condos and townhomes.
A condo is essentially an apartment. You mainly own the air space between the walls as you do not technically own the roof or the building exterior. You pay a higher HOA fee which can be around three to four hundred dollars on a $150,000 condo.
However, there is a benefit to high HOA fees; presuming that management is doing a good job with the funds, you will not have to ever pay for garbage disposal. Moreover, the water bill is usually included in the HOA fee,