Before you take renting or buying a condo or a townhouse into your consideration, it would be good to know the difference between the two. Although they might appear as the same thing, they are not and they differ greatly. These differences are very important when you are making a final decision about what you need exactly. It would be the best to first start with the definitions of the two in order to get clear when it comes to comparison. A comprehensive comparison will give you the valuable insight and you can make an educated and informed decision based on this comparison.
A condo or condominium is a community of buildings or just one building in which units are not owned by a landlord but individuals. A townhome, on the other hand, is a conjoined unit that is usually owned by individual tenants. These are usually small separate houses or more than one house in a raw that share one or more walls.
Before you make your decision based on these two definitions, take the following factors into your consideration.
The biggest difference comes from the ownership. A condo belongs to the building owned usually by the Homeowners Association whereas townhomes are usually owned by one individual entirely. A condo is just a typical apartment while a townhouse is usually an entire house. In case that you like outdoor lifestyle, a townhouse would be a better solution than a condo. Other huge difference comes in size.
Condos are smaller than townhomes most of the time as the townhomes can be large. The size mostly depends on what you need and taking a larger condo or a townhome costs more. The maintenance fees vary too. Condos tend to cost more when it comes to fees although townhomes can cost more because of the interior and exterior care. When it comes to privacy, both solutions are totally fine. If you are really into privacy, a townhome would be a better solution. All these differences should help you to make up your mind.