While the prospect of owning a home is always exciting, it’s sooooo important to make sure you pick the right type of house. Do you want a detached home, or will you be happier in a townhouse?
Not sure? No worries! Here we offer a quick comparison between the two to help you choose the ideal home to settle in happily.
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The Townhouse
Townhouses or townhomes are independently owned single-family homes sharing connecting walls within a “complex.” They also share a distinct style, creating a unified look.
The two types of townhouses dictate the terms of ownership:
- Condominium townhouse: Condo townhouses do not include land ownership. Instead, you own a percentage of the condo complex – namely your house. Although you can typically renovate the interior, the exterior must meet certain standards set by the condo corporation. Owners pay monthly maintenance fees to cover a list of common costs such as maintaining the shared landscaping, exteriors like roofs, and things like garbage removal, water, etc. The fees are kept in a reserve fund that covers the costs of complex maintenance and upgrade projects. You’re responsible for maintaining interior systems such as your plumbing, electrical, HVAC, etc.
- Freehold townhouse: As the name implies, a freehold townhouse is free of any ties to a condo corporation, which means you own the home, the land and all the costs that come with it. You maintain your own front and backyard, as well as all elements of the home inside and out. Because you’re responsible for upkeep, there are no fees paid to a condo corporation and you’re free to renovate the interior and exterior of your home as you like in accordance with local bylaws.
Speaking of properties, have you checked out our latest listings? See what’s on the market right here.
Pros of Townhouses
There are several reasons you might consider a townhouse over a detached home including:
Budget
Townhouses, and in particular condo townhouses, are much more affordable than detached homes. This makes them a good choice for first time homebuyers as well as retired homeowners ready to downgrade to a smaller, lower maintenance home.
Better Toronto Neighbourhoods
Because townhouses are affordable, choosing a townhouse in Toronto allows you to live in a more desirable neighbourhood with better schools, amenities, and the local vibe that suits your lifestyle.
Bigger Than Condo Apartments
While you might not be interested in a condo apartment due to their size, a condo townhouse offers a spacious home with distinct floors and often a small outdoor space for your private use.
Amenities (and parking!)
Many condo complexes feature amenities such as a gym, maintained common gardens or a pool. You might also benefit from improved security such as closed-circuit TVs or security guards monitoring the complex at night. Better yet, many offer private parking in driveways, attached garages, or shared parking garages.
Lower Maintenance and Upkeep
Although you do have to contend with things like upkeep of plumbing and repairs, the condo townhouse is a good choice if you’re not too keen on exterior upkeep and things like shoveling snow and mowing lawns. A freehold townhouse also tends to be easier to maintain due to smaller yards.
Looking for more answers to your home-buying questions? Here are a few more posts you might find interesting:
- Should You Buy a Toronto Tear Down?
- How to Buy an Affordable Home in Toronto?
- Survival Guide to Buying and Selling During the School Year
Cons of Townhouses
There are also disadvantages to townhouse living, including:
Less Privacy
Townhouses are attached, which means privacy is greatly reduced. For example, sitting in your backyard, or on a townhouse terrace is wide open to the entire complex. You’re also living side by side with your neighbours, which means you’re likely going to hear a lot more coming through the walls than you’d like!
Lots of Rules
Specific to condo townhouses, condo corporations impose rules and bylaws you have to follow. This can include a long list of things from what you can do with your balcony or backyard to window coverings and restricted overnight guest parking to limited changes you can make to the exterior.
Maintenance Fees
Maintenance fees add to your costs, but also reduce the money you have to fork out for something like a leaky roof. Overall, it boils down to whether you can afford these fees on top of your other expenses.
Layout
Because townhouses are designed to provide more houses on a limited plot of land, they tend to be three or even four storeys. That’s a lot of stairs. They might not be suitable for people with mobility issues.
What about lofts? Learn more about Toronto’s trendiest lofts in this post here.
The Detached House
That brings us to the detached house. Simply put, this is a freestanding home set on your own private property. In Toronto, although some detached houses are pretty close together, they don’t share walls, and the back and front yards are all yours. Nothing is shared other than fences and, in some cases, common driveways.
Pros of Detached Houses
The detached house offers many benefits, including:
More Privacy
Having no shared walls keeps neighbour noise to a minimum. You also have a private yard you own outright allowing you to install a fence and plant trees or bushes to create a sheltered oasis.
Control Over Your Outdoor Space
In most cases, a detached house offers not only a larger outdoor space, but a space to do with what you will, whether that’s letting it go wild and ignoring it, building a she-shed, or installing a deck complete with an outdoor kitchen.
Control Over Your Curb Appeal
You call the shots for your own curb appeal from the windows to the front door and lighting to the façade. You can also landscape your own front garden, create a pretty front porch to sit and enjoy a glass of wine in the evening, or enclose your porch to create a mudroom. It’s all you, as long as you adhere to local zoning laws and building codes.
Cons of Detached Houses
Most people regard the detached house as the most desirable option, but there are some cons to consider:
High Maintenance
Because you own the house outright, you’re responsible for maintenance inside and out, which takes time, physical effort, and money.
Less Affordable
Detached homes not only have higher purchase prices, but also higher insurance premiums and property taxes. You might also face higher utility costs for heating and cooling depending on the size of the home.
No Parking
Many streets in downtown Toronto lack parking, which means you have to apply for a street parking permit. Also, street parking requires digging out your car after a major snowfall and difficulty finding parking for guests. That’s just a pain.
Still thinking about buying a home? Read these posts next:
- How Interest Rates Affect Home Prices in Canada
- Can You Skip Buying a Starter Home?
- How to Protect Yourself Against Real Estate Fraud in Toronto
The Bottom Line
Your budget tends to be the defining factor that determines what type of house you can afford. If you’re determined to own a detached house, be prepared to compromise on location in a neighbourhood where housing prices are more affordable.
The Christine Cowern Team is always happy to help you come up with a home buying strategy. Give us a call at 416.291.7372 or email us at hello@christinecowern.com. We’d love to work with you!
