| Real Estate Essentials

Why choose a Toronto Townhouse?

A townhouse can be the perfect solution for people who cannot decide between condo living and detached home living. But what exactly is that difference? Here is a quick guide on the different Toronto townhouses so you can compare for yourself – this may be the perfect solution for your next chapter in life!

What To Expect With A Townhouse

At its lowest common denominator, a Toronto townhouse will require less maintenance than a detached single-family home. Size-wise, they are usually larger than a typical condo and smaller than a freehold home. It is almost certain you will be sharing a wall with at least one neighbour, most likely it will be two.

The sale price of a Toronto townhouse is also generally between that of a condo and a detached house, but this can differ depending on the townhouses’ size, age, and location in a neighbourhood.

What Kind Of Townhouses Are There?

In Toronto, there are typically two kinds of townhouses. There are freehold townhouses and condominium townhouses.

Freehold Townhouses

These townhouses are also known as attached or row houses. With a freehold townhouse, you own the entire property.

Condominium Townhouses

Condominium townhouses can either be an attached/row house or specific floors or apartments within a set of townhouses. What distinguishes condominium townhouses from freehold townhouses is that with condominium townhouses, you own the interior of the property and the condominium corporation owns the exterior and common areas.

How To Know Which Is Right For You?

While this question is deeply personal, here are some important points I have come across that have helped my clients determine which was the right choice for them.

Freehold Townhouse

You will know a freehold townhouse is the right choice for you if the idea of condo fees is not appealing. As you own the entirety of the property, you can have complete freedom to change the interior and exterior of your home. However, in addition to having total freedom over the appearance of your home, you must also allot time to maintain your property. Therefore, pencil in your calendar times to mow your lawn and shovel snow. Finally, a freehold townhouse will be the right choice for you if you are able or interested in spending more money upfront with the anticipation that your home has a good chance of appreciating quickly in price.

Condominium Townhouse

You will know a condominium townhouse is the right choice for you if you value your lifestyle above all else. If you prefer to spend your time enjoying your home rather than maintaining it, a condominium townhouse will be perfect for you. Depending on the maintenance fee inclusions in your condominium townhouse board, your condo fees can cover things such as underground parking, exterior repairs, snow removal and landscaping. Another benefit to living in a condominium townhouse is that these townhouses tend to be more affordable than freehold townhouses.

Either way you slice it, a Toronto townhouse is the perfect middle ground between the condo lifestyle and the single-family house lifestyle. If you are interested in learning more about townhouses and which one might be right for you, please feel free to contact me here. I would love to help you find the townhouse of your dreams.