Maybe you’re a first-time homebuyer who is looking for the perfect home without the giant price tag. Or maybe you hate the maintenance responsibility that comes from owning a property. Either way, a condo and townhouse MLS listing in Ajax is the perfect housing option for you.
However, before you go house-hunting, you need to pick one between the two - condo vs townhouse. By choosing between a condo and a townhouse upfront, you can save yourself time and frustration during the home search process.
In this blog, we’ll walk you through the main differences that exist between condos and townhouses. After reading this, you can confidently choose the perfect property type that best suits your lifestyle and needs.
Key Differences Between a Condo and a Townhouse Property
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CONDO - A condo is a unit within a larger building or complex that is individually owned. Condo owners own the interior of their unit but they do not own the land or common areas outside their unit.
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TOWNHOUSE - A townhouse MLS listing in Ajax is a single-family home that shares walls with other similar units. Townhouse owners own both the interior and exterior of their unit including the land it sits on.
Now, let’s explore the distinct differences between a condo and a townhouse -
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Ownership Structure
One of the primary differences between condos and townhouses is the ownership structure. In a condo, owners only own the interior of their unit while the exterior and common areas are owned collectively by all condo owners through a homeowners association (HOA).
This means that decisions about maintenance, repairs, and upgrades of the shared spaces of the building are made collectively by the HOA. Condo owners typically pay monthly dues to cover these expenses.
On the other hand, townhouse owners typically own both the interior and exterior of their unit, including the land it sits on. They may have an HOA responsible for maintaining common areas like roads and sidewalks or landscaping in common areas.
But townhouse owners often have more control over their property than condo owners. They have more freedom to make changes to their unit without needing approval from the HOA.
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Amenities and Facilities
Another key distinction is the amenities and facilities provided by a condo and a townhouse Ajax MLS listing. Condo complexes often offer a range of shared amenities to owners such as gyms, swimming pools and communal gardens. These amenities are maintained by the HOA and are available for all residents to use. On the other hand, townhouses often provide only those amenities that are essential for the community like playgrounds or parks.
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Privacy and Space
When it comes to privacy and space, townhouses are a better choice than condos. Since townhouses are usually multi-level structures with fewer shared walls, the owner experiences less noise from the neighbours as compared to a condo.
Also, townhouses often come with spacious outdoor spaces such as patios or small yards. This provides residents with more space and the opportunity for fun outdoor activities.
Condo units, on the other hand, have shared walls on all sides that lead to more noise transfer between units. No doubt, condos may offer residents amenities such as balconies or terraces. However, these MLS listings in Ajax often do not have private outdoor space that comes with a townhouse.
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Maintenance Responsibilities
The maintenance responsibilities also differ between condos and townhouses. In a condo, the HOA is usually responsible for maintaining the exterior of the building, landscaping, and common areas. This can be a great benefit for homeowners who consider the task of maintenance and repairs a pain in the neck.
Townhouse owners, however, are typically responsible for maintaining both the interior and exterior of their units. They also have the task of looking after the land where the property sits.
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Community Vibe
You can feel a strong sense of community while living in a condo because of the shared amenities and common areas. In a condo building, residents have more opportunities to interact with their neighbours through HOA-sponsored events or activities.
On the other hand, townhouse communities may feel more private or secluded. There is less interaction between neighbours as compared to condo living. But, of course, this varies depending on the specific community and its residents’ preferences for socialising.
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Location and Cost
Location and cost are two important points of consideration while looking at MLS Ajax Ontario listings. And condos and townhouses have significant differences in this regard.
Condos are often found in downtown and central areas where there is a dense population. These buildings are usually a short distance away from amenities such as restaurants, shops, entertainment venues, and public transit stops. The price of condo apartments in Ajax is around $200K cheaper than townhouses.
In contrast, townhouses are more commonly found in or near suburban areas in a less crowded environment. These houses offer residents the perfect balance between urban and suburban living.
Townhouses do have a higher upfront cost as compared to condos. However, they also offer more square footage and potential for appreciation over time.
Final Verdict - Which Is the Perfect Housing Option for You?
The best housing option between a condo and a townhouse depends on your personal preferences and budget.
Townhouses are great for those who want more space and a yard without the full responsibilities of a standalone house. These houses often have multiple floors, giving you more room to spread out. In short, these MLS listings in Ajax are perfect for families or individuals who want a bit more privacy and room to grow.
On the other hand, condos are ideal for people who want to own a home but without the maintenance worries. This housing option is great for busy professionals or retirees who want convenience, a sense of community, and zero upkeep hassle.
So, first, figure out what’s your lifestyle and budget and then choose one housing option accordingly.