Finding the perfect place to live is no easy feat, the combination of size, neighborhood and affordability isn’t an easy task. On top of that apartment listings use the terms apartment, condo or townhouse rental almost interchangeably so you have to figure out which works for you. Let’s take a look at the differences between them to see which works best for you.
Townhouses are typically rows of houses with usually three or four houses all in a row, you will be sharing at least one wall with your neighbors. Townhouses involve a little more maintenance than either an apartment or a condo, however the landlord will still be responsible for repairs. There are often community facilities that anyone in the complex can use and that can be anything from a swimming pool to a common area with picnic tables and space to grill. There are rules to living in a townhouse like you can change the exterior of the property at all and you need to make sure grass is mowed and other maintenance gets done. Of the three types of rentals, a town house will give you the most square footage along with a little bit of yard space.
There is not really a great deal of difference between apartments and condos in terms of space, amenities or responsibilities of the tenants. Condo buildings look exactly like apartment buildings, however they tend to be a bit more upscale and a few more amenities thrown in. Condos may have hookups for a washer and dryer whereas an apartment won’t. Condos come with monthly fees and that may be the responsibility of the landlord or he may pass it on to the tenant. Condo maintenance fees will take of things like landscaping, some repairs and cleaning of common areas. Unlike apartments condos can be rented or sold to individuals. If you are looking for a place to live in an urban area then you may find plenty of apartment buildings that have “gone Condo” where the rental units are sold individually and no longer monthly rentals.
Of the three an apartment is least expensive option. There will be no management fees and typically rents on apartments are cheaper than either a condo or townhome. Utilities may or may not be included with an apartment rental, whereas they are not likely to be in a townhouse or condo. There are fewer if any extra amenities in the average apartment building unless you rent on the higher end. There will also likely to be far more apartments on the market than either townhouses or condos.
Which one you choose will really depend on budget and the kind of lifestyle that you want to live.