Helpful tips

Is a townhouse worth more than a condo?

Is a townhouse worth more than a condo?

The resale value of a condo is typically higher than that of a townhouse because the condo retains much of its value. However, a condo is not like a single-family or detached home where the price fluctuates. A townhouse does not always hold its value, and this is for a couple of reasons.

What is the difference between freehold townhouse and condo townhouse?

You own an entire freehold townhouse, also known as a row or attached house. Whereas with a condominium townhouse you own the interior, and the condominium corporation owns the exterior and common areas. Townhouses for sale are most likely to be found in major urban centres or densely packed suburbs.

What are the pros and cons of a townhouse?

A sense of community.

  • A lower purchase price. Buying a townhouse isn’t always cheaper than buying a detached home.
  • Easier maintenance.
  • Common area amenities.
  • A sense of community.
  • Lower rent.
  • Extra amenities.
  • A community feel.
  • Less space.

Do you own the land under townhouse?

A townhouse is a multi-level building designed to mimic a traditional house that is owned on a strata title. This means you own the dwelling but share the land with other people.

Do townhouses have maintenance fees?

Ownership and fees A far more hands-on form of ownership, residents of freehold townhouses are responsible for handling every facet of maintenance and upkeep, from costly roof repairs to shoveling the driveway. That being said, freehold townhomes don’t have monthly maintenance fees, which is a big plus for many buyers.

Why do you love living in a condo?

Condo living is a great choice if you enjoy the feeling of being part of a community and forming meaningful relationships with others. As you take advantage of the shared amenities and move through the building, you are likely to bump into familiar faces and meet your neighbours.

How long can you live in a condo?

The house should easily last 70 to a 100 years if maintained properly, so it’s not a question if you want to live there your whole life or not, the large condo building built with concrete should last much longer, but at the end of the day everything has a life span, and once this is over you have no value left.