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Colorado Springs Home — Is a Condo or a Townhome right for you?
Search for TownHomes or Condos in Colorado Springs
What are the advantages of owning a condo or a townhome?
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There are many advantages of owning a condo or a townhome, one of which are the amenities that may be part of the complex such as a pool, hot tub, sauna, fitness center or clubhouse. These are some of the perks you
might not be able to afford or even have room for if you were to purchase a single-family home.
What are the disadvantages?
Of course, as with all things, there are some disadvantages to owning a condominium or a townhome, such as the lack of privacy that a single-family detached home affords. You are also confined to the rules and bylaws of the community association, which can range from how to display a satellite dish to the type of animals you can keep, to where you park your car.
What’s the difference between a condo and a townhome?
When you own a condo, you own the title to the space within the walls of your living quarters plus a percentage of the surrounding property. Common areas such as hallways, roofs, parking lots, green areas and pools are shared with the other owners in the complex.
When you own a townhome, you purchase the individual unit, as well as the ground underneath that unit. Each townhome has its own roof, in contrast to condominiums.
Why do townhomes and condos charge HOA’s?
Condominium and townhomes owners typically must pay an monthly association fee. These fees defray the cost of maintenance, insurance, repairs and upgrades to the community’s common areas. They may also cover the costs for the services of a property management company. In Colorado Springs, those fees can range from $100.00 a month to $500.00 a month.
Is a Condo or townhome right for me?
If you would rather spend your free time doing something besides mowing the lawn, painting the outside of your home, fertilizing the grass, or shoveling the snow, then a condo or a townhomes may be for you.
Condo and townhome living isn’t for everyone, but can be an attractive option for those who want to own instead of rent.
What do they cost?
In Colorado Springs, there are a wide range of condos and townhomes to choose from. There are condos starting as low as $55,000 and going as high as $3,000,000 for a luxury condo located in the Broadmoor Hotel.
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