Should You Own A Condo Or A Townhome?

Should You Own A Condo Or A Townhome?
May 17 12:27 2019

Are you in a big dilemma on whether to buy a condo or a townhome? Both are excellent for investment but have their own pros and cons. The post below offers a brief on both.

Talking about condos

Condos are high end plush properties that promise a luxury lifestyle. These units are designed with a great host of contemporary amenities- ranging from swimming pools to exercise rooms to clubhouses for hosting events and so on. Moreover, condos are usually guarded by strong round the clock security. A wonderful part of buying a condo is that the owner here won’t have to bother about maintenance or repair works. You won’t need to stress over insurance as well. Both maintenance and insurance are taken care of by condo association against a monthly fee from condo unit owners. And yes, condos command a lower purchase price than townhomes. Some high end condos like Sumang Walk EC

even assure CPF grants for buyers.

However, the condo association fees could be huge for the condo unit owners. You will have no control over the association costs. Besides, condo living will mean staying with lots of neighbors on top, sides and below. It could lead to privacy issues for many.

Talking about townhome

A townhome is more of like some single-family unit where different owners own different units of the structure. Now, although a townhome owner will have neighbors but the number of neighbors is always less compared to a condo. In this case, you will only have a neighbor living on your sides and not on bottom or top. So, neighbor interference won’t be much of an issue here.

But then, a townhome demands a larger purchase price than a condo. Moreover, there is no association to take care of your lawn (on your unit) on your part here.

If you are ready to pay a large purchase price and take care of maintenance, go for townhome. But if you don’t want such hassles, take to a condo.

 

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