“With a single-family home, you’re completely alone, and all maintenance responsibilities rest on your shoulders," says Palmer. We Asked, You Answered. or town house n. 1. Get quick and easy access to your home value, neighborhood activity and financial possibilites. But you’re not necessarily downtown, where you tend to see more condos.”. These differ from traditional houses in that they don't usually afford the same expansive land, in … ©1995-2020 National Association of REALTORS® and Move, Inc. All rights reserved.realtor.com® is the official site of the National Association of REALTORS® and is operated by Move, Inc., a subsidiary of News Corp. Julie Ryan Evans is an editor and writer who has covered everything from politics to pop culture and beyond. The different types of houses and the pros and cons of each, Privacy policy / California privacy policy. The word stuck, and today, it's used to describe a wide array of primary residences (rather than just an extra pied-à-terre for the rich) all over the world—in other words, not just in cities. But this compensation does not influence the information we publish, or the reviews that you see on this site. As with any home purchase, you’ll need to ensure that you can comfortably afford a townhouse before you start shopping for one. This story covers the basics on condo versus the townhouse. Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Here’s an explanation for We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. We are an independent, advertising-supported comparison service. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. A modern town house is often one with a small footprint on multiple floors. 10 Types Of Nouns Used In The English Language. They’re poised to remain in favor, as today’s buyers look for low-maintenance homes in walkable neighborhoods. Dictionary.com Unabridged However, townhouses are often rented to tenants as well by the owners of the unit, depending on the restrictions of the community. Townhouses are multi-floor homes that share one to two walls with adjacent properties but have their own entrances. Many people are a bit confused about exactly what defines a dwelling as a townhouse, and some of the lines are somewhat blurred, but the true explanation is simple: it is a home that is attached to adjacent houses. Apartments are suited for anyone looking to stay in a prime location for a cheaper price near shopping, restaurant and entertainment centers, often at a more affordable cost than buying a condo or single-family home. A Red Ventures company. Single-family homes are best for families who prefer a huge yard and plenty of room to spread out. Many types of homeowners can benefit from townhouses, but they’re a particularly good option or first-time homebuyers or other budget-minded home buyers who want more space than typically afforded in a condo. She loves running, reading, cold wine, and hot weather. “Some people want more freedom. We're here to help! The origins of the word townhouse go back to early England, where the term referred to a dwelling a family (usually royalty) kept "in town" (meaning London) when their primary residence was in the country. Apartments are strictly commercial rental units owned by a corporation and everyone in the complex rents.

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