Condos and Townhomes

Condos and Townhomes

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Housing choices are abundant, especially in urban areas, leaving many affluent buyers and first-time homebuyers wondering which type of residence to buy. Each style of dwelling—condominium, townhouse, and detached home—has its pros and cons. Buyers should consider their lifestyles and budgets, as well as how much they want to be involved in home maintenance when deciding which type of home works best for them. Situated on their own lots, detached homes tend to provide owners with the most freedom when it comes to improving the structures or the land that comes with them. The square footage of detached homes ranges from small to mansion-size, but the defining feature of this type of home is the freestanding structure; there are no neighbors with whom to share walls. Like condos and townhouses, some detached homes, especially in urban and suburban areas, may have HOAs, but the fees are usually minimal and cover no more than snow and trash removal and shared road maintenance. And many detached houses have no HOAs at all. Those provide the most independence and freedom of choice. Detached houses appeal to people who want large yards for their children to play in and room for other structures, such as a detached garage or workshop. Detached-home ownership is also the right call for people who do not mind yard work or who yearn for a big garden. On the other hand, unless the detached house is part of a community, it may not have some of the amenities that come with many condos and townhouses, such as a swimming pool, fitness club, or tennis court.

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