You must have come across terms like apartments, condos, and townhomes. But do you know what is the difference that exists between all those three terms? It is hoped that you hold some basic idea regarding the same. But after getting to know in detail, you will really come to know the purpose fulfilled by them along with their detailed description.
Apartment – Multi Storied Along With People All Around
We all come across various apartments in our day to day lives. An apartment is a place that is rented from a company that owns this property. Usually, apartment buildings are multi-storied along with people all around including:
- Beside each other.
Each and every person is supposed to share a common hall and walk-way with each other. It is designed in such a manner that each and everybody may easily remain in touch with each other. We, in general, rent a unit in an apartment complex. The basic floor plan is probably and generally built for economy.
Condo – An Established Set Up
On the other hand, the condo is considered to be a setup. It probably looks like an apartment comprising of similar amenities. But the advantage is that only you will own the unit. To be broad, a condo is owned personally where owners share the ownership of common areas which include grounds along with hallways. Condominiums may be apartment style buildings or townhouse type buildings, but usually do not own the land.
Difference Between Condo And Apartment
An apartment is usually a larger building comprising of few rooms that comprise of all requirements to reside in a separate residence. A condo is just the same, but the apartments are owned separately by either the respective resident or another person who may also rent the same to someone. Unlike apartment, there exist the following benefits that are hardly provided to apartment dwellers:
- Additional amenities
- Concierge services and much
What Is A Townhouse?
Now comes the time to understand the hidden treasure behind a townhouse. In general, townhouse owners own the property under townhouse. The townhouse is a type of structure that can be easily owned as a condominium. Here, individual properties flush against each other with the help of tiny front and back yards along with shared walls between them.
In simple terms, it is side-by-side duplexes that are carried on down the block. Even after comprising multiple levels, there hardly exists any unit above and below. You may own as well as lease them as desired. Both townhouses and condos comprise of neighboring units on either one or both sides.
Townhouse – A Rectangular House
For your kind information, a townhouse is a rectangular house. It comprises of a long and narrow shape and is situated in the town comprising of more than two floors. You may either own a townhouse in the form of a condo or in the form of simple fee. A fee-simple townhouse is in comparison least attractive due to no association. You can manage each and everything by yourself.
On the other hand, condo comprises of a vested interest where one resides easily into his own unit and may try to control each and everything to the best interest each and every time.Read More