Lofts, Town Homes or Condos…What’s the Difference

A lot of individuals struggle with understanding the terminology when it comes to evaluating the perfect abode to own or rent. Removing the criteria of location, price and the number of units within a multi dwelling building, home seekers get confused when confronted with descriptions of a loft apartment, a town home or a condo. This article hopes to differentiate between the three.

Condominiums
First of all, the basis on choosing the right place to live in would basically depend on the person’s lifestyle. Most of the business executives who wished to unnerve their bodies after a very hectic day in the workplace would want a resort kind of lifestyle. For this kind of preference, a condo on Washington Square or within a high rise structure within center city limits would allow for short travel times between office activities and the close proximity to downtown entertainment options.

Downtown condominiums are often strategically located close to business centers; condos often come with other building amenities such as swimming pools, training facilities, racquet clubs and other lifestyle facilities that are maintained through a homeowners association.

A condo owner only owns what is inside his condo walls while the rest of the building or structure, including the land, is owned by the association of homeowners.

Lofts
Lofts, on the other hand are living spaces carved out of a building that wasn’t initially built as a living space. They are usually constructed from converted warehouses or abandoned factory buildings located within a commercially vibrant section of the city. When viewing various Philadelphia lofts for sale for example, you will discover a higher concentration close to major trucking routes north and east of center city. Unlike condos, they are typically built with more open spaces and higher ceilings. A minimal amount of property maintenance is required and there is most likely no owners association established. Loft spaces are rather blank units which can be very appropriate for buyers who wished to design the space themselves. Artistic types enjoy the Philadelphia lofts in Northern Liberties.

Townhouses
Townhouses or homes can be very different from lofts and luxury condos on Rittenhouse Square. Townhome ownership is outright and exclusive. Usually, with the townhomes in Philadelphia museum district and two plus floors contained within the unit and there may be 16 units within the structure. A small section off exterior living space and it is the townhome owner’s decision on how to develop and use that space. In the suburbs mixed in with luxury homes on the Main Line , townhome communities co-mingle with single family homes and in these cases there are homeowners associations formed to care for the grounds and community amenities.

Maintenance of the exterior landscape development may require more professional care. What the town homes in Philadelphia lack in exterior living space makes up in its close proximity to cultural activities.

When buying a house in Philadelphia it is important to seek the help of a buyers agent in Philadelphia , who understands the different neighborhoods within the city limits and can identify the various Philadelphia lofts for sale or townhomes in the Philadelphia museum district for the cultural enthusiasts.