If you’re one of those people who doesn’t like maintaining your lawn or want to commit to a large down payment for a conventional home, buying a condo or townhouse may be right for you. Before we look at the top five reasons to buy a condo or townhouse, what are condos and townhouses?
Condos and townhouses are unit-based home purchases. For example, a condo unit will exist within a group of connected condominiums and you purchase one unit or one condo. Townhouses are found in planned developments where all homes are similar in style and you purchase the townhouse but are not responsible for the upkeep of common areas. The same for condos-you are not responsible for common areas, recreational areas, swimming pools or other areas where the Homeowner’s Association you join and pay for each month takes care of these common areas and you must abide by condo and townhome bylaws as well as rules and regulations. You do pay individual property taxes on both condos and townhouses.
Here are the top five reasons we found to purchase a condo or townhouse:
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