Appraising in Delaware, the Blog...

Condos vs. Townhomes: are they different?
March 22nd, 2021 11:52 AM
The answer to this question isn’t a clear cut yes or no when we think about the words as we know them. To understand what I mean let’s dive a little further into how these words are used.
Condominium is a legal term that shows ownership. A condo can very well be a townhome style home that is owned by the COA (condo owners association). What this means is that while a buyer may own the (town)home the COA owns the land on which the home is built.
Townhomes are a type of architecture and a type of land use. Townhomes are meant to be built on a very small amount of land and then go up instead of out to keep down on land tax costs.
So while they are two very different things (legal ownership vs architecture/land usage) they can be the same thing.

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Posted by Patricia Persia on March 22nd, 2021 11:52 AMPost a Comment

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