CONDO                                         TOWNHOME                              



Most buyers (and real estate agents for that matter) mistakenly believe that town homes and condos are one and the same....they are not.  They are quite different and the differences can have hugh implications on what type of financing is available to the buyer and what the monthly cost will be.

The most common misconception is that the term town home refers to an attached single family dwelling that is two or more stories,this is not accurate.  Many condos can and are multiple storied units and many town homes are single storied.  The main difference between town homes and condos in Baton Rouge area (and maybe everywhere for that matter) is that the homeowner owns the land -or real estate- under the unit.  In the Baton Rouge area when purchasing a condo the homeowner does NOT own the land under the unit, that land is typically owned by the condo association or the developer.

Because there is real estate (land) attached to the town home, there are many more financing options available to the Baton Rouge real estate buyer who is purchasing a town home vs. a condo.  All the traditional financing choices and down payment scenarios that apply to detached single family homes are available for town homes; FHA,VA,Conventional,RD(if applicable) and the 100% and 97% loans.  Another important financing difference is that town homes are eligible for the Louisiana State Bond and the East Baton Rouge Parish Bond; condos are not.

If purchasing a condo and applying for a government backed loan (FHA or VA), you must be diligent in making sure that the condo association is FHA approved.  If the association is not approved then you will need to be able to prove that the condo development is at least 80% owner occupied.  This can be tough.  Typically in the Baton Rouge area buying a condo requires at least a 20% down payment and a conventional loan.

Enough beating up on condos; they do have some advantages.  

 1.  Condos are typically completely maintenance free; the monthly association fees usually covers all exterior maintainance i.e. painting,grass cutting,landscaping and ROOF replacement.  Town home associations fees usually do not include roof replacement and are normally more limited on exterior maintenance.
2.  Condos in the Baton Rouge area and especially around LSU tend to offer more amenities; clubhouses, pools,tennis courts etc.  Town homes in our typically do not.



In the Baton Rouge area real estate market, there are quite a few options to chose from in both the town homes and condos category; which one is right for your situation?  That is where I come in,  I am an Exclusive Buyer's Agent in the Greater Baton Rouge real market.  I have sold numerous town homes and condos and can guide you painlessly through the decision making process.  Whether you are searching for the perfect town home or condo lair for your Tiger or Jag or your own perfect maintenance free spot Shannon Sims a call at (225)296-7723  or drop me an email at shannon@judyburkett.com