Buying a home is a big undertaking. If you’re assessing the pros and cons of a condominium VS a townhouse in Vancouver, we put together a list of tips to help determine the right type of home for you.
Multiple factors have to be considered when buying a home—budget, location, space, investment. You’ll be forced to ask yourself a lot of questions. There are a lot of similarities and a few distinct differences between these two properties. The crux of the matter is deciding which is the right type of home for you.
Both townhouses and condos are typically owned by the resident, although a few may be rented from a landlord.
A townhouse may be defined as any strata-titled detached or attached housing property that share some common ground. A townhouse, unlike an apartment, has a private entrance accessed directly from a street or a courtyard and may offer one or more levels of living space.
Examples of homes considered townhouses by this definition include:
- Any unit that makes up a triplex, fourplex, or multiplex
- A coach house situated on the same lot as another home
- Any unit with a private entrance attached to the ground level of a highrise or condominium
- Any unit that is part of a townhouse or row house complex
Living as part of a condo strata means you own your unit and share joint ownership with other owners over facilities and common areas, which may include amenities like a gym, swimming pool, common areas, theatres, and common rooms.
A townhouse is more like a single-family home. The most common reasons families opt for townhouse living include:
- Accessibility & Convenience (most have a street entrance)
- Low Maintenance
- Peace and Privacy
A townhouse is a great way to enjoy the feel of a single-family home. Townhouses are more affordable than standalone home and are often available at a better price per square foot than condos of a similar age and construction. in other words, townhouses offer more bang for the buck. Additionally, there are no elevator wait times, greater access to the streets, and greater convenience for visitors and Skip the Dishes delivery!
Pricing & Fees
Like condos, Townhouses are strata properties with shared ownership of common areas. Maintenance and repair for the grounds and building are typically delegated to a property management company, leaving owners responsible for the inside of the homes.
Ultimately, choosing between a condo and townhouse in Vancouver comes down to viewing both types of properties, breaking down costs, and then assessing which is the best fit. Factors like appreciation and resale will be impacted by location, age, maintenance—as well as the appeal of your individual space. An experience townhouse realtor will be able to provide the insight necessary to make an informed decision.
Working with Ariane Benjamin
As an experienced townhouse realtor, Ariane Benjamin focusses on the purchase and sales of townhouses in Vancouver Proper. Her one-on-one approach exemplifies a customer-first attitude, allowing her to deliver results and value while coordinating swift, smooth transactions. Ready to discuss buying or selling? Schedule a complimentary consultation. Call (604) 779-1500 to get started.