From 1990 to 2016, the population of Charlotte grew from 400,000 to more than 800,000, as more and more people come to the city for the tremendous opportunities and excellent way of life it offers. With the influx of new residents, the real estate market in The Queen City has also grown significantly. New homes and communities have been rising to keep up with the growing demand for housing.
Condos and townhomes provide a great solution to the housing needs of many Charlotte residents. They are not only generally more affordable than single-family homes, they also provide plenty of benefits and conveniences.
The main difference between a condo and a townhome is that with a condo, you own only the space within the walls of your unit and share ownership of the building’s common areas with other unit owners. In a townhome, you own the unit’s interior space and the land where the unit is built. It typically includes a small back and front yard.
Townhomes generally appeal to homebuyers who prefer the single-family home lifestyle, while condos attract those who are more comfortable with the apartment style of living. If you’re trying to decide between a townhome and a condo, here are some of the things you need to know:
Upscale townhomes and condos feature topnotch amenities for the exclusive use of residents or unit owners, such as swimming pools, fitness centers, tennis courts, and walking trails.
Townhomes and condos typically have homeowners associations, which collect a certain fee every month. The HOA is responsible for security and the upkeep of common areas and facilities. HOA fees in condos are generally higher than in townhomes because a condo has more shared facilities and common areas to maintain.
If you intend to keep pets, you may face more restrictions in a condo than a townhome. Many condos do not welcome pets, and some that do have restrictions on the type and size of pet you can keep. Townhomes generally have fewer rules regarding pet ownership.
It is generally easier to acquire financing for a townhome than for a condo. Unless you’re purchasing a townhome as a secondary property, obtaining a loan for one is the same as for a single-family home. On the other hand, lenders have more rules when it comes to condo purchases.
Where to find the townhome in Charlotte that’s perfect for you
There are many townhome communities in Charlotte today, and more are rising in different parts of the cities. Some of the most ideal locations are in the downtown and uptown areas, putting residents close to the city’s many amenities and attractions.
Townhomes in Charlotte come in a wide range of prices and sizes. The most luxurious properties feature topnotch community amenities, including swimming pools, gyms, clubhouses, and spas.
If you’re after the waterfront lifestyle, you’ll find wonderful options in townhome developments along Lake Wylie. They offer great access to the water where you can do a ton of activities, including boating, kayaking, and other water sports. Amenities include community boat slips and boat/trailer storage spaces.
You will also find luxurious townhomes in golf communities, such as Beverly Woods, Raintree, and Providence Country Club. With top-of-the-line home features, excellent community amenities, and the best access to highly-rated golf courses, you can enjoy the resort lifestyle every day.
Start your search for the right townhome in Charlotte today. Get in touch with Peters & Associates at Call 704-264-4572 or send an email to NPeters@yourleaderinluxury.com.