Townhouse versus Condominium Comparables

[Lost Cause]

There are situations where it makes sense to compare these.

Question: What if the townhouse is condominium?

 

[Mike Kennedy]

NJ example

http://realvaluations.com/CONDOMINIUM%20VS.%20TOWNHOUSE-.pdf

 

[Couch Potato]

In townhomes, due to the land ownership, the owner can often make small improvements to the outside (front and rear) of the landscaping of the home, and also may be able to install a fence (if allowed). With Condos you can't do any of that. The condo usually controls all of the exterior landscaping and improvements to the land.

Small difference, but still a difference.

I live in a condo and I can make "small improvements" to the outside of my unit such as landscaping; I can even put up a small fence.

Ron, I don't know about CO, (did I just make a rhyme?), but in most venues, condominiums are legally defined as airspace condominiums, and you own the space between the floor, the ceiling and the walls. In most areas townhomes are typified by full vertical property rights, (i.e., ground, surface and air), and, generally speaking, the interior 1/2 of the perimeter walls.

No, condominiums are typically defined in a wide variety of way, but only reading the unit description in the documents setting up the condominium will let you know how it is defined. For instance, I own to the back side of the drywall in my condominium. I own the back door, but not the storm door just beyond it. Though my patio and storage room are not part of my unit, nobody can use them but me, and I can make alterations to them.