What's the difference between a condo, a town house and an apartment?

<div class="separator" style="clear: both; text-align: center;"> <a href="http://4.bp.blogspot.com/-io2VsbkrcNE/U46d1N2IScI/AAAAAAAAERQ/8YmQ-nrca-I/s1600/Condo+Townhouse+or+Apartment.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="352" src="http://4.bp.blogspot.com/-io2VsbkrcNE/U46d1N2IScI/AAAAAAAAERQ/8YmQ-nrca-I/s1600/Condo+Townhouse+or+Apartment.jpg" width="640" /></a></div> <b><br /></b> <b>Apartment</b><br /> <br /> An apartment is a rented space with shared walls and floor/ceiling. A condo is an owned space with shared walls and floor/ceiling. A town home is an owned space which is usually at least two stories and has shared side walls with at least one other town home<br /> <br /> <b>Townhouse</b><br /> <br /> A townhouse is like a house in that the owner owns both the structure and the land on which it sits; but it is not free-standing, so "the land on which it sits" is limited to the front and back yards. Townhouses are connected to one another in a row, and are usually two or three stories tall. They share many of the characteristics of condominiums.<br /> <br /> <b>Condominium</b><br /> <br /> Like townhouses, condominiums are attached to one another. If you own a condo, you do not own the land surrounding your living space. A condo owner owns only the unit itself, which is taxed as an individual entity, and sometimes a percentage of the common areas of the community. Condo communities may provide such shared facilities as a pool, gym, tennis courts and clubhouse, all maintained by the condo association, which takes care of all day-to-day management tasks. This is one of the key advantages of condo living -- all of the joy of using the amenities, none of the hassles of maintaining them. Condominium owners pay a monthly fee to the condo association, which also sets the rules for the community.<br /> <div> <br /></div>

Apartment Condo Condominium Townhouse What's the difference between a condo, a town house and an apartment?

Apartment An apartment is a rented space with shared walls and floor/ceiling. A condo is an owned space with shared walls and floor/cei...

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