Nashville townhome or Nashville condo? Which is right for you?

photo of nashville townhomeWhen a couple contemplates the pluses and minuses of downsizing their home, an increasingly enticing possibility is moving into a condominium or townhome.

The move is usually worth considering when you factor in several realities. Demographics – a lot of time and money is spent maintaining a home that may have too much space once the kids are no longer living there. Choosing between time spent on hobbies or chores in the house can help make the decision even easier.

Because downsizing can mean serious savings in time and money, looking at the current Nashville or Franklin condo/townhome choices can make more sense now than it ever did before.

The difference between a condo and a townhome.

Condos and townhomes are different from each other, with townhomes usually thought of as more similar to a single family home. Both condos and townhomes, however, are built in a group with shared walls. Most townhomes have two or more floors, but unlike condos, do not have neighboring units above or below.

In most situations when owning a townhome, land ownership is part of the package. The owner owns the land the townhome is built on as well as the land in front and behind. Most condominiums have units above and below so land ownership is not an option.

In both condo and townhome ownership maintenance fees are shared, with monthly fees at a set rate and the association responsible for any issues. Fees usually include garbage pickup, lawn and garden service, exterior insurance, roof and siding maintenance, etc. Owners are responsible for insuring everything within their walls, including contents.

With so many fees being shared, the cost of owning a condo or townhome is usually much less than a single-family dwelling. Plus the benefit of not being solely responsible for all maintenance issues is usually a huge relief and time saver. For the eco-conscious, a certain amount of congratulating may be in order – even though some of today’s Nashville townhomes are as large as many single family dwellings.

Moving from a single-family home to a townhome or condo here in the Nashville or Franklin area can result in a significant change in lifestyle – or simply mean easing into a different way of life. If such a move could be in your future, there are numerous options for you to discover. In fact, you can start your search right here in the Nashville MLS. Just select “multi-family” unit for townhomes as your search criteria. Give me a phone call if you’d like to explore!