If you are like most people, you use the terms townhouse, townhome, condo, and condominium interchangeably. The use of town "home" and town "house" is the same as "home" and "house", so you can use them any way you choose.
It is important, however, to note that a townhouse is NOT a condo. There are a few distinctions that you must know prior to making a purchase.
There are a few ways that a townhouse and condo are similar. Both types of real estate offer a low maintenance lifestyle. In addition, the common areas and the amenities are owned by the association. It is common to pay a monthly HOA fee for the upkeep of the pools, fencing, landscaping, trash service, signs, parking and other features that are shared by each property owner.
Some of the differences between a townhouse and condo are very important to know. One major factor is that in about every case, the townhome owner owns the structure and land below the townhome. This is not the case with a condominium which you own the interior, yet the association owns the structure and the land it sits on. Because condos usually have more common areas, they also usually have higher monthly association fees.
The financing options are different between a townhouse and a condo. Because a townhouse has land attached to it, it is financed similar to a home. Condos are looked at differently by the banks. Is it warrantable or non-warrantable? -meaning - Does it pass the strict guidelines of Fannie Mae and Freddie Mac, and has it been approved by FHA? If some of these guidelines have not been met, then it may mean a higher interest rate on the mortgage.
If you are buying a Myrtle Beach condo and will need financing, ask your real estate agent if the condo is warrantable, non-warrantable, or FHA approved. Finding this information out after you have submitted your loan application is too late. In every case, the property owners association is capable of providing this information.
One way that you can tell if you are looking at a townhouse or a condo is whether or not there is a second dwelling above another. If there is another property above, then it has to be a condo because it is not sitting on land. However, a condo can sit on land and still not own the land so be careful. Looks can deceive you.
Still another similar property is the Garden Home or Patio Home. One builder's definition of this type of structure is: "a single-family detached or duplex home on a small lot with amenities similar to a townhome or condominium, such as yard maintenance provided by the homeowner's association or a community pool".
Some townhomes in Myrtle Beach and North Myrtle Beach that we like are:
Edgewater in Barefoot Landing
Townhomes in The Woodlands in Barefoot Landing
Sawgrass East Townhouses - Carolina Forest
Townhomes in The Farm - Carolina Forest
Wellington Townhomes
Park West Townhomes in Murrells Inlet
Parkview Subdivision
Riverbend at Enterprise
Pine Island Townhomes
Ocean Keyes in North Myrtle Beach
Longleaf Place
Plantation Harbour in Little River
The Preserve at Pine Lakes
No matter what you read on the internet, make sure you verify before you buy a Myrtle Beach townhouse, patio home, garden home, or condo.
Don't miss out on this Lovely 2 Bedroom 2.5 Bath town home located in Bay Tree III! It is fully furnished, updated and ready for you to enjoy as a primary residence, seco...
Listing courtesy of Listing Agent: Maryann Sarles () from Listing Office: Simply Carolina, LLC.
Just Wow! What a gorgeous home! That WILL be your first thought when you enter this complete remodel at the exclusive Porcher Villas. This 15 unit complex features a poo...
Listing courtesy of Listing Agent: Sherry Jones () from Listing Office: Hawkeye Realty Inc.
This spacious 3 bedroom and 2 full bathroom condo has plenty to offer. Starting off with the massive living area that features a vaulted ceiling which overlooks the pond ...
Listing courtesy of Listing Agent: Cheryl Wingard () from Listing Office: The Palmetto Group.
Must see, rare true townhome where you own the land, steps the beach off of 72nd Ave N in Myrtle Beach. Amazing renovations top to bottom, brand new kitchen with quartz c...
Listing courtesy of Listing Agent: Brian Piercy () from Listing Office: ERA Real Estate Modo.
Welcome to Seawalk Villas, your gateway to beachfront bliss in Myrtle Beach, SC! Just one block from the sandy shores of the Atlantic Ocean, this spacious 2-bedroom, 2-ba...
Listing courtesy of Listing Agent: The Abe Safa Team () from Listing Office: Century 21 The Harrelson Group.
Lovely townhome located steps from the beach and within 2 miles from the Myrtle Beach International Airport (MYR). Summer Fayre is a small townhome community located on t...
Listing courtesy of Listing Agent: Catherine "Cath" Lee () from Listing Office: Redfin Corporation.
Don't miss this rare opportunity to own your very own piece of paradise! This highly sought-after unit just steps from the double day docks will never be available at thi...
Listing courtesy of Listing Agent: Valerie Lyons () from Listing Office: Carolina Bays Real Estate.
You Will Love this end Unit with a front view of one of the many lakes and beautiful oak trees. Updated with granite in kitchen and bathrooms, LVP flooring on first lev...
Listing courtesy of Listing Agent: Toni Rudolph-Olin () from Listing Office: The Litchfield Company RE Gtwn.
Welcome to 2690 Blue Crane Cricle, Unit 105! This interior unit townhome is located in the Belle Harbor Community, just seconds away from Market Common! This highly sough...
Listing courtesy of Listing Agent: Grand Strand Team () from Listing Office: Innovate Real Estate.
Your dream come true in this newly remolded 3/2.5 unit with just 6 month old paint and flooring. Master down stairs and a 16 x 12 loft extra living space upstairs makes t...
Listing courtesy of Listing Agent: David Meno (Main Line: 864-297-3111) from Listing Office: JOY Real Estate Co Inc.
Provided courtesy of The Coastal Carolinas Association of REALTORS®. Information Deemed Reliable but Not Guaranteed. Copyright 2024 of the Coastal Carolinas Association of REALTORS® MLS. All rights reserved. Information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.