Townhouse condo , town home condo, freehold condo, aren't they all the same? There seems to be some confusion about the differences between the three and to make the confusion more befuddled, if you google all three, you will see what I mean.
So, in London Ontario and area, Realtors, builders and lawyers generally define them as the following:
- Townhouse Condo: Can be attached or detached, single floor or a two or three storey
- Town Home Condo : Usually detached, more upscale and freehold or a general condominium corporation
- Free Hold Condo: Detached, you own the land and are responsible for your roof, windows, doors and you pay a nominal fee to the condo corporation for road maintenance and common grounds.
Now, before anyone wants to nit pick me on the above descriptions , I have helped hundreds of buyers and sellers of condos in London and these 3 definitions worked for them. As well, at the end of the day, your lawyer and the status certificate of the condo corporation and the property you are buying or selling is defined quite clearly in all documents and ownership is defined.
A professional Realtor will have already verified that for you , but then, what do we know, we are out seeing condos every day!
Where To Start?
Most start off by going to MLS and picking up all the real estate magazines they can get their hands on & going to open houses or model homes
Thats a good way to get a feel for price and style. But then what? What about certain condo rules, fees and financial stability of the condo corporation, amenities and other questions that should be very important for you to know?
Another alternative is to take advantage of our knowledge and experience with condos & houses in London Ontario and area. Daily, our associates view quite a few condos in London and area & are quite familiar with price, quality, safe areas and know the better run condo corporations and some to stay away from.
Do you use up a tank of gas or spend hours on MLS going through hundreds of listings?
What about if you could first know what you can get in your price range, learn about the styles, even locations!
Even some common sense ideas of what to look out for.
Below is a snapshot of condos for sale in London Ontario & area on MLS
Oh, and by the way, are you wondering what your payments will be?
Here is a fabulous 4 in 1 mortgage calculator that will guide you to know your costs.
Below are links to some but not all townhouse condo complexes (townhomes, attached and detached, one floor and more) in London Ontario by price range.
Included are prices last year, what units sold for compared to the asking price, how long they took to sell, some buyer & seller tips and at times, a blunt discourse on being prudent when buying or selling a condo .
$150,000 to $250,000
$250,000 to $400,000
400,000 to $500,000