Condos for Rent Vs. Townhomes – What’s the Difference?
Have you been thinking about investing in condos for rent vs. townhomes and are wondering what’s the difference between both types of properties?
In this article, we will break down condos vs. townhomes so you will know which one is the better option for your investment portfolio.
Why Invest in A Condo?
Condos are ideal investments. They come in a wide variety of styles including ranch styles, or high-rise styles in two- or three-story high-rise buildings.
When you purchase a condo, you won’t actually own the building itself, you will be part of an Association with other members and this association also means that you will have co-ownership of other areas like the swimming pool, tennis courts, and other amenities that may be on site.
The obvious downside for some people is the fact that depending on the actual location of the condo you may have neighbors above, below, or on either side of you and that may affect your ability to find a tenant. Not everyone likes to live in a building with neighbors all around them.
Why Invest in A Townhome?
Townhomes are different than condos in the style of construction. With a townhome, the owner will own the structure and land that the townhome sits on and the front yard/backyard as well.
Since a townhome often shares a common wall with another townhome this means that the owner or renter can expect to have neighbors, but the good news is that most townhomes usually don’t have neighbors above or below them because they most often don’t have more than two stories.
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