Buying a home used to be straightforward affair. All you had to do was to pick one that you’d want to live in, pay for it, and voila, you are now the proud owner of a home. However, as cities now are becoming more congested, construction experts are coming up with more ways for people to find comfortable housing options in the city. Two of these ways would the townhouse and the condominium.
Because there isn’t a lot of space to build grandiose mansions or even a regular house with a lawn and white picket fence, the housing industry is looking for more ways to build up. This is why high-rise buildings are becoming more popular, and living quarters in these buildings have become the new houses for the modern generation. Condominiums in high-rise buildings aren’t the only choices though. You can also consider housing options like a townhome that is basically the same as a house, but with closer neighbors.
Most people use the terms ‘apartment’ and ‘condominium’ interchangeably even though these are two very different things, especially in terms of ownership. An apartment is owned by one party, the landlord, and is occupied by another. A condominium, on the other hand, is both owned and occupied by the same party.
Basically, a condominium is a structure that is part of a bigger building and is owned and occupied by the same person. The ownership here extends only to the unit itself and not the land that it is on. The safety levels in a condominium is relatively high, given that any unsavory character has to gain access to the building first before getting to a condo unit, but the privacy level is low.
Franklin TN townhomes, on the other hand, are housing units that are constructed as a row of independent houses that share walls. The main difference between a condominium and a townhome is that with the latter, you own the land that it is on. Townhomes are usually several stories high to compensate for their small footprint.
Another difference between Franklin TN condos and townhomes is that the latter has a lower safety level because it faces the street. However, townhomes have a higher privacy rating because they are basically houses that just happened to share walls with other houses. There is also a Homeowners Association that takes care of the maintenance of the exteriors and other shared or common areas.
Whether you choose to buy townhomes or condos in Franklin TN, be sure to only work with trustworthy real estate professionals so you know you’re getting the best out of your money. For more information, you can visit first-home-buyers-guides.biz/real-estate/buying-a-townhome-condo-vs-buying-a-house.html or online.wsj.com/article/SB125199127870183559.html.