Knowing the difference
between Toronto Condos and Townhouses
If you are in the
market to purchase a new home in the
Toronto area but don’t want to purchase
a single-family home, you are probably
considering the different options of
condominiums that are available. During
this time you may, or may not, have
wondered whether or not you should look
for a condominium or a townhouse. But
did you know that a townhouse could also
be a condominium?
Many people often get confused by this.
To eliminate any further confusion as
you search through the many options of
gorgeous
Toronto condos in such an amazing
city like Toronto, let’s attempt to
clarify things.
For starters, it is important to note
that a townhouse is a type of home that
one can live in. Townhouses are usually
multi-level units (two or three floors)
and have at least one common wall that
is shared with other townhouses in the
community. If you happen to own a
Toronto condo that is a townhouse, more
than likely you also own the land
underneath your property. This is
probably the main difference in
ownership of a traditional condominium
housed in a building with other units;
in this case the land the building sits
on would be jointly owned by all unit
owners. |
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Another major benefit of owning a
Toronto condo that is a townhouse is
that you normally have a small front and
back area of land that is all yours.
While you will be responsible for
maintaining this area, it is nice to
have private outdoor land that you don’t
have to share with other tenants.
So the thing you want keep in mind is
that a condominium really refers to a
specific type of ownership, whereas a
townhouse refers to a type of home or
dwelling. This is why you could easily
become the owner of Toronto condominium
that is technically a townhouse as well.
Just because we are used to thinking of
condominiums as being stacked one on top
of the other doesn’t mean that they
can’t also be side by side as well, like
a townhouse.
The main point to remember is that if
you are the owner of a Toronto
condominium, whether it is inside a
building, attached to a row of other
townhouses, or semi-detached – you are
the owner of your own “strata lot”. In
addition there will likely be common
property that you own jointly with
others but have use of under certain
conditions. All of these common areas
will be taken care of and maintained as
a part of your condominium association
dues that all Toronto condominium owners
must pay.
To summarize, know that a townhouse can
and often is also a condominium. And a
condominium refers to a type of
ownership where a townhouse generally
refers to a type of dwelling. Hopefully
this eliminates any further confusion as
you search for the perfect Toronto
condominium to call home!
Contact Us Today to Find The Toronto
Condo of Your Dreams!
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