What is the difference between an Apartment Style Condo and a Townhouse Style Condo?
In simple words, townhouse style condos are those which do not have a terrace or it is more like an individual plot. Where as apartment Condos are similar to buildings which have multiple storey . They also share many common properties hallways, heating system, elevators, and exterior areas etc.
The best example of Appartment Type Condo is : http://waterviewcondominiums.ca
Condos are classified into two category
1. Townhomes style
2 Apartment style
Then there are Pud-planned unit development. PUDs can be townhomes or single family homes. Depending on who is looking at your property the situation changes. PUDs are easy to finance over condos. Especially for low down payment Borrowers it’s better to have a Pud rather than condos unless the condos project is approved by the lender or govt agency. Additionally if you are looking at buyer perception they prefer townhomes- that have only side neighbors and no above or below neighbors.
In an Apartment style condo, the living space is usually all on one floor. Townhouse style condos generally have two or more floors with a basement. Apartment Condos Apartment style condos have shared common areas such as lobbies, hallways, stairways and elevators. Many luxury buildings have a 24-hour concierge service, health clubs and underground assigned parking. An apartment type unit, whether garden style or high-rise, may be either a one-level ranch style, or a two-level townhouse style unit with a second floor or loft. Townhouse style condos generally have two but no more than three floors in the individual unit and have a basement. They do not have other units above or below them. Townhouse Style Condominiums vs. Townhouses, sometimes referred to as Townhomes Townhouse style condo owners do not hold title to the land under their units. Townhouse owners not only own their unit but also hold title to the land on which their unit sits. They generally have two or more floors with a
