“My husband and I can’t afford a detached house yet, so we’re going to buy a condo. Is there a difference between a condo and a townhome?”
Answer:
“Condominium” is a form of ownership in which you own an interest in the entire condo complex with the exclusive right to use the designated “airspace” that your condominium unit occupies.
“Townhouse” is not a form of ownership. It’s an architectural style with 2 or more levels. Many condos are “townhouse-style”.
Another form of ownership is the Planned Unit Development or PUD. In PUDs, you own the structure and the land beneath it (often a small parcel a bit bigger than the “footprint” of your home), plus a shared interest in the common areas.
