Condomiums vs. Townhouses in Long Branch NJ: Which is Better?

Often, when people are looking to make a big move, they have to make important decisions without all the information. Is it better to live in the suburbs or in the city? Are there any tax benefits to choosing one type of home over another? How will our new location benefit me and my family? With all of these questions lingering, it can be tough to feel confident in your final decisions. If you are here, you’ve settled at least on one big decision: Long Branch, New Jersey. Congratulations! Long Branch is a bustling and beloved town down the Jersey shore with a welcoming community and lots of benefits. However, another big question may be looming over your move: “What is better: condominiums or townhouses in Long Branch, NJ?” If you are stuck between these two choices, know that there are some benefits and risks to each option. Below is a breakdown of the top pros and cons for each option.

Condos vs. Townhouses: What’s the Difference?

When it comes to these two housing options, there are very slight, but important differences.  Choosing which one is right for you depends entirely on your unique circumstances. This factors in what you can afford, what level of ownership you want to have over the property, maintenance requirements, and more.

You can think of a condominium as being similar to an apartment. This is because it’s an individual unit that resides in a building or community of buildings. However, unlike an apartment, a condo is owned by its resident and is not rented from a landlord.  On the other hand, a townhouse is more like a single-family standing home. However, it is an attached home and like a condo, is also owned by its resident. In other words, one or more walls are shared with an adjacent attached townhome. You can think of a townhouse more like a rowhouse instead of an apartment.

You’ll find condos and townhouses in all types of communities, including suburban areas, rural areas, and urban areas. Both options can be built to include one story or multiple stories.  It’s important for you to note that the biggest difference between the two housing options comes down to ownership and fees. In other words, consider what you will actually own and how much you pay for it. These two facts make the distinction between the condo vs. townhouse distinction.

Townhouses in Long Branch, NJ: Pros & Cons

As we mentioned, you can think of the ownership of a townhouse in Long Branch, NJ as being more in line with a detached single-family home. In terms of ownership, you personally own the structure and the land it sits on. Note that the main difference is that your home will share some walls with a neighboring structure.

Next, consider the way homeowner’s associations are going to play a role in your life. In a townhouse community, the HOA typically manages common areas. This could include the common grounds on the property and, in some cases, roofs and exteriors of the structures. Make sure that you ask your realtor when looking at townhouses about the specifics.  The second function of the HOA is to establish rules for all tenants. These may include rules around renting out your home, noise, and what you can do with your land.  For example, some townhome HOAs forbid you to make alterations to your property,  including adding a pool, shed, or back patio, even though you own your yard.

Condominiums in Long Branch, NJ: Pros & Cons

Different than a townhome, when you purchase a condominium, you personally own your individual unit.  Additionally, you share joint ownership of the building with the other tenants. That means that you will be sharing space and amenities, including its common areas, such as the gym, pool, and grounds.

Additionally, when you purchase a condo, just like a townhome, you are required to pay monthly fees into an HOA. The HOA handles the day-to-day maintenance of the shared spaces. A bonus of having an HOA when living in a condo is that the association manages the building, its grounds, and its interior common spaces. This means less work for you.

Finally, in terms of condominiums vs. townhouses in Long Branch, NJ, purchase prices tend to be cheaper to buy for condominiums. This is because you’re not investing in any land. However, consider that condominium HOA fees do tend to be minimally higher. This is because the community is typically much larger and there are more shared spaces for the tenants.

Consider other associated costs, too, including property taxes, home insurance, and home inspection costs. All vary depending on the type of property you purchase and the location.

The Lofts Pier Village: Your New Home By the Sea

When choosing between condominiums and townhouses in Long Branch, New Jersey, consider the condos at Pier Village. At The Lofts Pier Village, the Jersey Shore is yours. For people looking for a little luxury by the beach,  these condominiums by the shore have everything you want and more. If you’re looking for an opportunity to live a laidback beach lifestyle, come learn about all the amenities and the community at this incomparable setting. Our modern “City by the Sea” offers luxury unlike anywhere else in New Jersey. These elegant condos for sale in Long Branch, New Jersey, with on-site fine dining and shopping, as well as the serenity of the ocean, create the perfect balance. Learn more about contemporary and blissfully carefree oceanfront living, every season of the year.

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