There is often a lot of confusion when people are considering buying anything other than a single family dwelling on a property. Other listing often use terms such as Charlotte townhomes, condos or even apartments, lofts or studios to describe the living space.
To keep them separate and distinctive think of an apartment as a rented space, often with a lease of a year or a month by month rental agreement, and lofts and studios as just specific types of apartments. There is then the condo, which is a like a small or large apartment complex but with each unit owned by an individual. While they own the interior space the exterior space is owned by the condo development owner.
Charlotte townhomes are unique in that they are owned, similar to a condo, but they owners are not in an apartment-like structure; they are in a separate residence with individual entrances. It is more like a traditional home and usually only the side walls are shared between the two townhomes.
Ask About the HOA
When you buy Charlotte townhomes the public areas, including the exterior of your townhouse and the lawn area to the front and back, are considered public property. You will need to get approval of the HOA (Home Owners Association) for the complex to make any changes.
However, unlike a condo, you typically have no restrictions on any renovations or upgrades you do to the interior of Charlotte townhomes. You typically cannot add-on or make any changes that impact the exterior.
Style and Location
The style and location of Charlotte townhomes should be important considerations. If you have children you will want to check for schools in the area as well as play areas, community parks and other features.
The style of Charlotte townhomes is also an important point to think about. Some are very modern in their design and style while others are older and more traditional in their appearance. Many have been fully upgrading on the interior and feature all the perks that you would expect in a new single family home.
Talk to your Realtor if you are interested in Charlotte townhomes. He or she will be able to provide you with information on pricing, neighborhood features and which HOAs are the best to work with.
