A Guide to Understanding the Differences Between Coops, Condos and Townhouses

Coops, condominiums and townhouses are all forms of attached housing. They are great for people who want to own their own homes or apartments, but do not want to have to do the maintenance which is normally involved with owning a home. They come in different forms and have different financial and governmental set ups. So before you purchase housing of this type, be sure that you understand all the facts.

What's the Difference?

Here is a summary of each of these three types of housing.

Townhouses

Townhouses are usually a two floor unit which share at least one wall with another townhouse. They are usually found in clusters or groupings. Townhouses tend to look like houses which happen to be attached on one or more sides. They may have a less 'apartmentish' look than coops or condos.

Townhouses will often have many amenities to offer their residents. There may be a main clubhouse, a pool, tennis, golf, etc. If the community happens to cater to Seniors, you may find many services which cater to their needs.

Each owner of a townhouse has title to his or her unit and the land underneath it. They also share the ownership of the common areas if there are any (these are areas used and shared by all owners). Townhouses are usually governed by a Homeowners Association. This Association is usually elected by the residents.

Condos

Condominiums are usually a single unit with one or more floors. They often resemble apartment buildings or attached apartments. They can be found in clusters of a few units or high rise buildings.

Condos will often offer amenities which are similar to those of Townhouses, such as pools, clubhouses, tennis, golf etc. Again, you may find that the amenities cater to the specific residents. Each owner has title to the interior space within his or her unit and shares title to the common areas as well.

Condominiums are governed by a board of directors which is elected by the residents. They will have to adhere to the condo's bylaws and covenants, conditions and restrictions.

Coops