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Episode 34: Condos and Townhomes, What’s the Difference?
Welcome back! Today we have the amazing Amber Romero to discuss Investment properties and the differences between Condos and Townhomes. A townhouse is like a single family residence home with the exception that you have one shared wall, you own the land where the property sits. With a condominium you don’t own the land, only the 4 walls of the property and everything inside of it.
Fun Fact: On a townhome, your homeowners insurance will cover the entire property and personal property. On a condo, the homeowners insurance will typically cover the roof and personal property. The Condo HOA has insurance for the community grounds and the outside of the property.
Talk to your Loan Officer before Purchasing a Condo or Townhome because there are many aspects to account for such as HOA rules, occupancy, type of loan financing and down payment needed.
Contact us today to get your process started!
View all episodes
By Coffee, Homes & LoansWelcome back! Today we have the amazing Amber Romero to discuss Investment properties and the differences between Condos and Townhomes. A townhouse is like a single family residence home with the exception that you have one shared wall, you own the land where the property sits. With a condominium you don’t own the land, only the 4 walls of the property and everything inside of it.
Fun Fact: On a townhome, your homeowners insurance will cover the entire property and personal property. On a condo, the homeowners insurance will typically cover the roof and personal property. The Condo HOA has insurance for the community grounds and the outside of the property.
Talk to your Loan Officer before Purchasing a Condo or Townhome because there are many aspects to account for such as HOA rules, occupancy, type of loan financing and down payment needed.
Contact us today to get your process started!