To those looking into the Barrie townhome market for the first time, navigating your way around can be a bit confusing. For instance, what’s the difference between a condominium townhome and a freehold townhome? And why are some called ‘townhomes’, while others are referred to as ‘townhouses’?
In order to clarify things a bit for those in unfamiliar territory, here are the basic differences.
First, the easy one: ‘townhome’ or ‘townhouse’? These terms are used interchangeably, and mean the same thing, but the term I prefer to use with my clients is ‘townhome’, because it’s not just a building I’m referring to – it’s your potential new home. This building will become your personal space, where you go to escape, raise your family, and live your life.
Now for the main difference between condominium and freehold townhomes: freehold townhomes are those for which you pay no monthly fees, and are responsible for all maintenance like shovelling snow, mowing the lawn, etc. Condominium townhomes include a monthly maintenance fee, but the trade-off is that you don’t need to worry about cleaning the pool, or maintaining your driveway in the winter or lawn in the summer – it’s all looked after for you.
If you’re a professional or retiree who just doesn’t have the time or interest to invest in the upkeep of a house, a condominium townhome might be a good option for you.
Affordable luxury
Whichever you choose, both freehold and condominium townhomes in Barrie usually offer upgrades and amenities that are often cost-prohibitive when looking at a detached home. Items like ceramic or hardwood floors, upgraded cupboards, granite countertops, and whirlpool tubs are just a few options that generally have a large price tag attached to them in detached homes, but are often more affordable in a townhome. It boils down to value for your money, and the lifestyle you want.
An appreciable investment
Like a detached home, townhomes are an investment that will (or should, depending on the market conditions) appreciate in value. And, again like a detached house, the more amenities and upgrades the townhome has, the higher the resale value.
When it comes right down to it, choosing a freehold or condominium townhome in Barrie is simply a matter of personal choice based on lifestyle and affordability.
Stephanie Adams is a Sales Representative at Royal LePage Barrie (First Contact Realty) specializing in Barrie Condos and townhomes. Stephanie is part of the Barrie Condo Team.
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