Sun Valley has its share of townhomes and condos. Have you ever considered the difference between the two?
Most condo buildings resemble apartment complexes. In most cases a real estate developer divides a building up into smaller units which are individually sold. When you purchase a condo you own the “air space” that makes up your unit and everything else is shared with other condo owners such as stairwells and exterior areas.
A townhouse typically comes in rows of connected homes. Each unit having a front and back entrance and multiple stories. The owner of a townhome owns more space than the condo owner, such as the land under their unit and the yard outside.
A townhome comes closer to purchasing a single family home in many regards. The owner enjoys less restrictions and increased privacy; however bears more responsibility in upkeep and maintenance of their area. In a condo you only have total control within your 4 walls. HOA’s within condo complexes can impose restrictions on pets and playing loud music.
Whether you buy a townhome or a condo you will have to enter into an HOA. Monthly fees for the HOA can be high but are essential to keeping the building insured and in good order. The HOA can decide on maintenance and renovation projects, kicking up the cost of your fees without you having much of a say other than a vote–unless you get on the board, that is. HOA’s can be less intrusive for townhomes with increased maintenance obligations on the owner.
Can your Sun Valley Townhome or Condo be an income producer? That depends on the unit you purchase. I can help you find the perfect unit for your needs!
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