What's the difference?
After years of maintaining a home, the idea of downsizing into a “maintenance free” home is very attractive. The Omaha metro has many wonderful options for maintenance free living, but it’s important to understand the difference between those options. In real estate, there are different names for different types of structures for homes. There are also terms for different ways that a home is owned or operated.
A condo is one unit in a large building which often houses many similar units. Condos are run according to a “regime” where you own your unit, and typically pay a condo association fee to pay for the communal areas. Communal areas include hallways, workout facilities and pool areas. While you do not own the communal areas, you contribute to the maintenance through your condo association fees, and have full access to these areas. You can’t make any changes to the communal areas, but since you own the walls of your condo, you are free to paint and renovate as you wish.
A townhome has similar features to a freestanding home, but usually has at least one shared wall with a neighbor. Unlike a condo, the owner owns the outside and the inside of the structure. Townhome owners are ordinarily responsible for the upkeep of the grounds that come with the property. Townhomes usually have common areas such as a pool or workout facilities that are shared by the community in exchange for a monthly association fee. Often, the fee also covers mowing, sprinklers and snow removal.
A villa is very similar to a townhome, except that a villa does not have any shared walls. Think of a villa as a miniature standalone home. Villas are usually slightly larger than a standard condo or townhome. Villas have similar association fees and policies as townhomes that cover lawn, snow removal, sprinklers, trash, etc.
If you are interested in exploring affordable, maintenance-free living in a condo, townhome or villa, give me a call. I will set up a few appointments so you can see firsthand how great maintenance-free living can be!