Condominium indicates a type of ownership rather than type of physical building. Any type home can be owned in the condo manner...owning and maintaining part of it while the collective of owners own common areas, elect a board to run them, and pay a monthly assessment. Subdivisions of individual homes can be a condominium. With that said, I prefer condominium ownership but I like the townhouse type of home...no one over or under me but attached on the sides. Cooling cost is lower but there is no sacrifice of privacy or being subjected to others' noises. Also, I prefer to own my home rather than renting, although renting is very nice and provides freedom from repair costs. For me, ownership, is preferred and wiser financially.
This post was edited by Thriftymaid at June 17, 2018 11:04 AM MDT