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Condos vs Townhouses vs Homes – The Differences Explained

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If you’re one of those who got here by typing “what is the difference between a condo, townhouse and a home ” in the Google search bar because you felt uncomfortable asking, there is absolutely no need to feel ashamed, you’re not the only one. In fact, there are more people that don’t understand the difference than those who do. Whatever the case may be, if you came in search for answers, we’ll make the best efforts to clarify things for you. WHAT IS A CONDO, A TOWNHOUSE, AND A HOUSE?  Condo is short for condominium and it can refer to a single building or a community of building with separate, individually owned units. They can vary in style, design, and size, but regardless of these, they always share walls with adjacent units. In addition to this, the residents own only the area or unit of the condominium they’ve purchased, not the exterior or shared spaces which are under the Homeowners Association’s (HOA) care.  A townhouse is a single-family home that shares one ...
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If you’re out looking for a house, eventually the time will come when you will have to make an offer on a house. Offers are most commonly presented in the form of a purchase agreement, or contract if you prefer. Just as a reminder, purchase contracts include the following sections: The agreed-upon price The earnest money deposit amount Property address and description Terms of sale Date of the final walk-through Closure date Home buyer’s contingencies (if any) When you write your purchase agreements, whether it’s with the help of a real estate agent or on your own, you will notice that the last part is called “contingencies”. This is one of the most important parts of your offer since it’s the part that gives you a way to back out of it without any consequences if the other party doesn’t meet the requirements or if you don’t feel comfortable with the contract overall. While you may include as many contingencies as you want in your purchase offer, you want to avoid including...
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GTA Listings Aug 20 2019

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