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Old 08-19-2012, 05:07 PM
 
Location: Cary NC
13 posts, read 35,266 times
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Hi all, I'm shopping for a townhouse in the $200-240K price range, but I've recent toured a condo that I found very attractive. I might consider it, except that I've heard condos are very, very difficult to re-sell. Opinions about townhouse vs condo purchase? Thanks!
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Old 08-19-2012, 07:10 PM
 
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I must use those terms differently than you, because I don't understand your question. To me, a townhouse is a type of structure, whereas a condo is a type of ownership (which could be any number of different structure types).
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Old 08-19-2012, 07:20 PM
 
Location: Raleigh, NC
12,475 posts, read 32,259,066 times
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With a condo, you own only the air inside your unit. You pay a higher HOA fee (usually) and your unit is insured. You do need to purchase an insurance policy to cover your belongings (much like a renter's policy). Many buyers prefer a townhouse than a condo because many of the condos are like living in a apt.

With a townhouse, it is like owning any house, except that you are attached to another house. You own your own townhouse and the grass outside and the roof. It IS a house but it is attached to another house.

Vicki
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Old 08-19-2012, 11:16 PM
 
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Yes, I technically live in a "townhouse-style condominium". The structure looks like a townhouse - small yard and everything - but ownership is condominium style. I have no idea why it was done this way, but it really makes no discernible difference as far as I can tell.
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Old 08-20-2012, 03:14 AM
 
4,265 posts, read 11,429,856 times
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As far as re-sale:
I live in a townhome community. I never considered condos as, to me, it is like living in an apartment. There may be someone above you as well as below you. My townhome is very solid, steel fire walls between units which makes it virtually impossible to hear your neighbors on either side. Also, most townhomes have garages whereas condo parking is usally in a lot or shared undergound covered parking.
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Old 08-20-2012, 04:24 AM
 
Location: Morrisville, NC
9,146 posts, read 14,775,028 times
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Quote:
Originally Posted by CHTransplant View Post
I must use those terms differently than you, because I don't understand your question. To me, a townhouse is a type of structure, whereas a condo is a type of ownership (which could be any number of different structure types).
This is correct. Many people, when they say condo, they are talking about an in building multi family unit, but it is really just a way of communally owning the building and there are many many townhouse style condominiums in this area.
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Old 08-20-2012, 05:46 AM
 
Location: Raleigh, NC
19,446 posts, read 27,860,991 times
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Quote:
Originally Posted by CHTransplant View Post
I must use those terms differently than you, because I don't understand your question. To me, a townhouse is a type of structure, whereas a condo is a type of ownership (which could be any number of different structure types).
I though the same thing - but will add one more perception. When I hear "townhouse " I think two floors. "condo" makes me think one floor unit.
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Old 08-20-2012, 07:29 AM
 
187 posts, read 345,593 times
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I bought into a development of townhomes in N Raleigh a couple of years ago. I've noticed the townhomes around me are very slow to sell, even considering the rough market. They are selling substantially below value. My townhome is 2 floors, but we have several floorplans that are only one story.

Be sure to consider the price of the HOA dues when considering how much of a mortgage you can afford. For example, our HOA dues are $172.50, which adds a good punch to the monthly budget. They include lawn care, insurance, and everything from the walls out. I'm responsible for everything from the walls in. We have no amenities, ie pool, tennis. And yes...its a high fee.

There are condos across the street, but in the same HOA. They are much cheaper, but much smaller and just like an apartment complex. But at least they have a pool. :-)
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Old 08-20-2012, 07:49 AM
 
Location: Raleigh, NC
12,475 posts, read 32,259,066 times
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Quote:
Originally Posted by Sweetelf View Post
I bought into a development of townhomes in N Raleigh a couple of years ago. I've noticed the townhomes around me are very slow to sell, even considering the rough market. They are selling substantially below value. My townhome is 2 floors, but we have several floorplans that are only one story.

Be sure to consider the price of the HOA dues when considering how much of a mortgage you can afford. For example, our HOA dues are $172.50, which adds a good punch to the monthly budget. They include lawn care, insurance, and everything from the walls out. I'm responsible for everything from the walls in. We have no amenities, ie pool, tennis. And yes...its a high fee.

There are condos across the street, but in the same HOA. They are much cheaper, but much smaller and just like an apartment complex. But at least they have a pool. :-)
You say your HOA dues include "everything fromt the walls out" but you also say you live in a townhome community. That doesn't jive. Sounds like you live in a condo or you don't understand exactly what your HOA dues cover.

Vicki
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Old 08-20-2012, 08:00 AM
 
Location: Cary, NC
43,320 posts, read 77,177,570 times
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CONDO OR TOWNHOME? CAN YOU TELL? - -

After you decide which are townhomes and which are condos, click on "Details" to see how many you got right.

Sorry about the 3 "trick" questions....
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