Condo vs Townhouse: Which is Right for You?

Thinking of Renting a Townhomes in Calgary or Airdrie?

As housing prices climb, many people are turning to townhouses as an affordable alternative to single-family homes. If you're renting for the first time or want to downsize, knowing the differences between freehold and condo townhouses can help you choose wisely.

When choosing between a condo and a townhouse, understanding the key differences can help you make an informed decision. Both options offer unique benefits, but they cater to different lifestyles and preferences. Here’s a guide to help you determine which is the best fit for you.

Terra Townhomes offers the ideal rental experience with modern amenities and easy access to local parks and shops. Here's everything you need to know before renting a townhome.

Here’s what you need to know:

On This Page:

• Different Types of Townhouses

• What is a Condo Townhouse?

• What is a Freehold Townhouse?

• Top Tips for Renting a Townhouse.

What is a Townhomes?

A townhome (or townhouse) is a home that shares walls with neighboring units in a planned community. At Terra Townhomes, you can enjoy living on your own. You will also benefit from being part of a friendly community.

A townhome is a type of home that shares walls with other homes in a planned community. Townhomes have legal and financial ties to their neighbors, which is different from other types of homes. This design provides a balance of privacy and community.

At Terra Townhomes, you can live independently while being part of a friendly neighborhood. Our townhomes come with modern amenities and spacious layouts. They also offer easy access to parks and local shops, making them a great choice for families and professionals.

Condo vs Townhouse?

Different Types of Townhouses:

Townhouses come in two main types: Freehold and Condominium (Condo). Each offers unique features and benefits, so it's essential to understand their differences before deciding.

What is a Condo Townhouse?

A condo townhouse involves owning the interior unit while the exterior and common areas are collectively managed.

Here’s what you need to know:

• Ownership: You own the inside of your unit, but not the exterior or common spaces.

• Maintenance Fees: Monthly condo fees cover exterior maintenance, landscaping, and shared amenities. These fees contribute to a reserve fund for major repairs like roof replacements.

• Amenities: Some condo townhouses come with shared amenities like gyms and pools, offering a sense of community and additional perks.

• Restrictions: You must get approval from the condo corporation for any exterior changes or improvements.

What is a Freehold Townhouse?

A freehold townhouse is similar to owning a detached home but with shared walls. Here’s what to expect:

• Ownership: You own both the home and the land it sits on. This includes responsibility for all maintenance and repairs, inside and out.

• Maintenance: There are no monthly maintenance fees. You manage all upkeep tasks, including snow removal and lawn care.

• Flexibility: You have more freedom to renovate and make changes to both the interior and exterior of your home.

• Value: Freehold townhouses often have higher demand and appreciation rates, which can be beneficial if you plan to sell in the future.

Stacked Townhouse:

Stacked townhouses are units stacked on top of each other, often with separate entrances. This design is common in urban areas and offers individual ownership with private access.

Pros & Cons of Living in a Condominium Townhouse Advantages:

• Affordability: Townhouses are typically more affordable than single-family homes, making them an attractive option for many renters.

• Lower Maintenance Fees: Townhouse maintenance fees are often lower than condo fees. This is because townhouses have fewer shared services and amenities.

• Prime Locations: Many townhomes are in popular neighborhoods. They are near schools and amenities. This makes them a better value than single-family homes.

• Townhouses usually have more space than condo apartments. They often include private outdoor areas like ground floor terraces or rooftops.

• Less Maintenance: The condo corporation often handles maintenance tasks like snow removal and garden upkeep, reducing your responsibilities.

• Outdoor Space: Private terraces or rooftop spaces provide additional living areas and often allow barbecuing.

• Security: Some townhouse complexes have security guards, adding an extra layer of safety.

• Lower Heating Bills: Shared walls with neighbors help to insulate your home and reduce heating costs.

• Amenities: Many townhouse complexes offer access to shared amenities like gyms, party rooms, or pools.

• Parking: Most townhomes come with private parking spots, either in a shared garage or an attached garage.

At Terra Townhomes, residents benefit from spacious layouts, lower maintenance costs, and convenient parking for one or two cars. Our property manager ensures snow removal and grounds upkeep, making life easy for tenants. With easy access to parks and local amenities, Terra Townhomes is a fantastic choice for both families and professionals.

Top Tips for Renting a Townhouse:

1. Check the Community: Visit the townhouse complex and explore the neighborhood. Look for nearby amenities, parks, and schools.

2. Understand the Fees: Specify what the monthly maintenance charges cover and what falls under your responsibility.

3. Inspect the Property: Thoroughly inspect the townhouse for any maintenance issues before signing the lease.

4. Review the Lease Agreement: Know the lease terms, including rules for repairs, changes, and how long the lease lasts.

5. Evaluate the Commute: Consider the location’s proximity to your workplace, public transportation, and major roads.

Condo vs Townhouse: Which is Right for You?

Choosing between a condo and a townhouse depends on your lifestyle and preferences:

• Choose a condo if you want low maintenance. Condos offer shared amenities. They also eliminate the need for outside upkeep. This makes them a great choice for some people.

• Choose a townhouse if you need more space, want to customize your home, and are okay with handling maintenance tasks. It might be the perfect fit for you.

How Much is a Townhouse for rent?

In Airdrie, townhouses cost less than single-family homes in Calgary but more than condo apartments. As of August 2024, the average rent for townhouses in Airdrie is $2,170. This is about 8% higher than the national average.

If you are looking for townhome in Airdrie or Calgary, check out Terra Townhomes.

We offer spacious rentals with modern features. Our friendly neighborhoods are close to everything you need. Contact us today to find your new home!

Contact us today to find out more about available properties and start your journey to a new home!