Condo versus Townhouse or Villa
What’s the difference among a condo, a townhouse, a condo townhouse, a duplex, a villa, and lord knows what other name they can think of?
First, condominium is a form of ownership, NOT a type of property, but in practice, when people say condo they mean an apartment in a multi-story building. Plus every search site out there includes condo in the property type menu.
Townhouse, Duplex, and Villa are all pretty much the same thing. They are all houses that share at least one common wall with their neighbors. A Duplex is just two houses with one common wall between them. Townhouses can come in units of 2, 3, 4, 5, or more in a row. The end units share one wall with a neighbor, while inside units share two walls. If anyone can really figure out what a Villa is, let me know, too. Technically, it’s a one story townhouse, but the term gets used every which way, especially in the vacation market. These properties share walls, fences, and obviously the roofs are attached, but that’s about it. Insurance and maintenance are separate. They may have a common service area (for example, in Celebration) to provide common lawn service and to set up reserves for painting and roofing, but for the most part you are on your own.
Condominiums are part of a Condominium Association, a specific legal structure. The LANDand common structures, like roofs, walkways, hallways, steps, etc. are jointly owned. They have a Board of Directors and pretty much you’re all in it together when is comes to insurance, maintenance, reserves, property taxes, and assessments. In recent years, the total of these costs have increased substantially.
Townhouses, Duplexes, and Villas do NOT have to be set up as Condominium Associations, but they can be, so always check. The difference between the cost required fees and association membership can be huge.
Copyright © 2017 Mid Florida MLS. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of Mid Florida MLS. Information provided is for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. La Rosa Realty LLC participates in the MFRMLS Internet Data Exchange (IDX) program, allowing display of other MFRMLS broker's listings on this site. However may not include all listings currently available. Information is deemed reliable but not guaranteed. Information last updated at 2017-08-22 16:48:07.
FREE AUTOMATED EMAIL UPDATES
Sign in to take advantage of all this site has to offer. Save your favorite listings and searches – also receive email updates when listings you like come on the market for free!
*Contact Information is NOT Shared*