It's attached... what is it? Condo? Townhome? What's the difference?
They both appear to be townhomes... they've got seperate entrances, no neighbors above
or below, attached garage etc... still one is a townhouse and the other is
a condominium.
What's up with that?? We use the term "townhouse" loosely to describe a
style of attached home, yet in a more specific sense... in a true townhome you
would own the land that the property sits on. In this case you would need true
homeowners insurance, even though the exterior may be maintained by the
association, you still need to insure your share of the structure.
This is a Townhome in Cinnamon Glen at Butterfield in Aurora Illinois
Condominium is a form of ownership. With a condominium association you own
your unit but the association owns all of the exterior walls and the land it
sits on too, you are part of the association so you are one of many owners.
Typically you need insurance that is akin to renters insurance, since your
monthly dues actually pay to insure the buildings.
A Condominium in the Woodlands at Oakhurst North in Aurora Illinois
As you can see, you can't always tell by looking. Obviously if it's
a large building... you are probably dealing with a condo (or a co-op in
some markets), but that's because the term Condo describes the ownership.
In our area Multiple Listing Service (MLS) we lump them all together and call them "single family attached homes" and that that seems to cover it.
Manor homes, coach homes, garden homes are also condominiums, just good marketing offering a pleasant sounding way to describe smaller buildings. These can easily be mistaken for
townhouses as well
To search for single family homes (whether they are attached or not... visit)
Real Estate in Chicago's Western Suburbs where you'll have access to the full
gamut of available properties in the area.
Posted by Angus at 4:22 PM
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