Kenneth Maston | Princeton Real Estate, Westminster Real Estate, Fitchburg Real Estate


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When it comes to home ownership, you have many options beyond buying a single-family home. A condominium and a townhouse are two such options. Before you consider making one of these your permanent home, it's important to understand the differences between them.

Condo Ownership

When you purchase a condo, you own the entire inside of the structure. The condo association owns the exterior, all common areas, and the land where the condo sits. Condo owners are not responsible for exterior maintenance. However, you need to budget for condominium association fees apart from your monthly mortgage payment. This covers the cost of repairs and maintenance in common areas. Most condos are in multi-story buildings.

Townhouse Ownership

When buying a townhouse in a traditional manner, you must pay dues to its homeowner's association. This fee goes toward outdoor maintenance, such as mowing the lawn and shoveling snow. Your fee may also include landscaping services. Townhomes typically appear as conjoined single-family homes.

If you choose to purchase a townhouse in a non-traditional manner, you own the land it sits on as well as the physical structure of the home. This means you are responsible for repairs and maintenance both inside and outside of your townhome. The association that owns a townhouse complex is only responsible for communal repairs such as potholes on the street.

Financial Considerations

You can't deduct homeowner's dues if either type of property is your primary or secondary home. The only exception to this is if you rent it to others. If you occupy the condo or townhouse, you can deduct real estate taxes and mortgage interest if you itemize deductions on your tax return. If you plan to use the condo as a second home and rent it the remainder of the time, make sure that you occupy it less than 10 percent of the time that you rent it. If you don't, the IRS considers it personal property.

The non-mortgage fees for a condo are almost always higher than they are for a townhouse. This is due to more shared areas and additional amenities that most townhomes don't have. These may include a swimming pool, a recreation room, or an area on the roof to suntan or host a barbeque for your neighbors. These amenities all carry an additional risk, which necessitates the need for additional insurance coverage.

The property taxes and initial down payment are typically higher for condos as well. Even so, some people prefer a condo over a townhouse because they feel that not being at street level offers them better security.

If you’re in the market for a non-traditional home, feel free to schedule a consultation. We'll go over your options and find the best home to suit your needs.


This Condo in Leominster, MA recently sold for $155,000. This Townhouse style home was sold by Team Parkhill - Parkhill Realty Group.


155 Morningside St, Leominster, MA 01453

Condo

$155,000
Price
$155,000
Sale Price

4
Rooms
2
Beds
1/1
Full/Half Baths
End Unit condominium at Stafford Place. 2 Bedroom with a bath and a half priced to sell.




This Condo in Ashburnham, MA recently sold for $262,000. This Half-Duplex style home was sold by Team Parkhill - Parkhill Realty Group.


27 Howes Court, Ashburnham, MA 01430

Condo

$269,900
Price
$262,000
Sale Price

5
Rooms
2
Beds
2
Baths
Under Age 55 – You Can Buy Here Too! Efficiency, Style, Beach Rights to Lower Naukeag Lake - it's all here! Custom townhouse End Unit - Open Floor Plan Living Room/Dining Area & Kitchen with Maple hardwoods, features Quartz Counters, Corian Backsplash with Brass In-Lay, Energy Star rated Appliances, Farmer's Sink and Custom Industrial Finish Open Shelving - Not Your Typical 55+ Unit for sure! All Located on the First Floor – Master Bedroom, Full Bath with Oversized Shower for Convenience, Laundry (Units Included) & Access to Attached Garage make this Turn Key and ready for YOU. Expanded 2nd Floor offers alternate Master Suite OR Guest Room with Walk In Closet, Master Bath and access to separate Storage Area. Spend evenings in your screen porch enjoying the peaceful surroundings - you may even see the deer. UPGRADES incl YORK 2-Zone Propane Furnace Heat & AC; Rinnai Propane Hot Water On Demand; RONBOW Vanities, WEST ELM & POTTERY BARN lighting. NOT BUILDER GRADE -Welcome Home!




This Condo in Oxford, MA recently sold for $275,000. This Garden style home was sold by Team Parkhill - Parkhill Realty Group.


9 Cole Dr, Oxford, MA 01537

Condo

$279,900
Price
$275,000
Sale Price

5
Rooms
2
Beds
2
Baths
1200 Square Feet including Kitchen, 2 Bedrooms, Living Room, Dining Room, Basement (walk out), 2 Bathrooms, Laundry Closet, Deck. This unit overlooks woodlands. ALMOST BRAND NEW RANCH STYLE CONDO IN DESIRABLE TWIN ELM ESTATES ADULT COMMUNITY, OXFORD’S ONLY 55+ DEVELOPMENT. IT IS IN MINT MOVE-IN CONDITION. EVERYTHING IS ON ONE FLOOR & DOORS ARE HANDICAP ACCESSIBLE WITH BUILT-IN FIRE EXTINGUISHERS. THE 5 ROOMS, 1,200 SQUARE FEET, FEATURE 2 BEDROOMS, 2 BATHS, WALK-IN CLOSET IN MASTER, HUGE MASTER BATHROOM, CABINET-PACKED KITCHEN WITH BREAKFAST BAR, CORIAN COUNTERS IN KITCHEN & BATHROOMS. WASHER/DRYER, REFRIGERATOR, STOVE, MICROWAVE, DISHWASHER. Seller paid about $8,000 in upgrades. Washer & Dryer is on First Floor. Attractive, easy care laminate floors throughout. 1 car garage. Huge unfinished walk-out basement with 2 large windows. condo fee includes Town sewer & private well water, Snow Removal, Landscaping, Recycle

Similar Properties




9 Cole Dr, Oxford, MA 01537

Condo

$279,900
Price

5
Rooms
2
Beds
2
Baths
1200 Square Feet including Kitchen, 2 Bedrooms, Living Room, Dining Room, Basement (walk out), 2 Bathrooms, Laundry Closet, Deck. This unit overlooks woodlands. ALMOST BRAND NEW RANCH STYLE CONDO IN DESIRABLE TWIN ELM ESTATES ADULT COMMUNITY, OXFORD’S ONLY 55+ DEVELOPMENT. IT IS IN MINT MOVE-IN CONDITION. EVERYTHING IS ON ONE FLOOR & DOORS ARE HANDICAP ACCESSIBLE WITH BUILT-IN FIRE EXTINGUISHERS. THE 5 ROOMS, 1,200 SQUARE FEET, FEATURE 2 BEDROOMS, 2 BATHS, WALK-IN CLOSET IN MASTER, HUGE MASTER BATHROOM, CABINET-PACKED KITCHEN WITH BREAKFAST BAR, CORIAN COUNTERS IN KITCHEN & BATHROOMS. WASHER/DRYER, REFRIGERATOR, STOVE, MICROWAVE, DISHWASHER. Seller paid about $8,000 in upgrades. Washer & Dryer is on First Floor. Attractive, easy care laminate floors throughout. 1 car garage. Huge unfinished walk-out basement with 2 large windows. condo fee includes Town sewer & private well water, Snow Removal, Landscaping, Recycle
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