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.
Welcome home to this like-new, built in 2022, 3 bedroom 2 bathroom townhome in the new community, Bells Lake! This home features a smart home system, a gas tankless hot w...
Listing courtesy of Listing Agent: The Mills Group () from Listing Office: Century 21 Barefoot Realty , The Mills Group.
Beautiful, like new townhome in resort inspired Tuscany. This home is virtually brand new as it has been rebuilt after a fire caused by a lightning strike. This 3 bedroo...
Listing courtesy of Listing Agent: Gregg Smith () from Listing Office: CENTURY 21 Broadhurst & Associ , Gregg Smith.
Beautiful, like new townhome in resort inspired Tuscany. This home is virtually brand new as it has been rebuilt after a fire caused by a lightning strike. This 3 bedroo...
Listing courtesy of Listing Agent: Gregg Smith () from Listing Office: CENTURY 21 Broadhurst & Associ , Gregg Smith.
**"Due to high demand and interest the seller will be reviewing all offers on Sunday, 4/2/23 at 5 p.m. Please make your expiration date accordingly. Thank you!** Less tha...
Listing courtesy of Listing Agent: Jillian Chandler () from Listing Office: Century 21 The Harrelson Group , Jillian Chandler.
Model Home The Pinehurst NEW TOWNHOMES in the highly desired neighborhood The Preserve in Pine Lakes. This is an Interior UNIT! This is the Pinehurst Model. These townh...
Listing courtesy of Listing Agent: David Nuckles () from Listing Office: Lennar Carolinas LLC , David Nuckles.
DeBordieu Colony - Pioneer Place Villas - Come make memories in this furnished beach retreat - 4 Bedroom and 4 Baths just steps away from the Ocean and the Pioneer Place...
Listing courtesy of Listing Agent: The Roper Group () from Listing Office: Peace Sotheby's Intl Realty PI , The Roper Group.
Tastefully updated and turn key ready! Unit 48 at Chapel Creek Villas stands out for both its interior design as well as it's inviting exterior courtyard space. Featuri...
Listing courtesy of Listing Agent: Douglas Henderson () from Listing Office: Callaway Estates , Douglas Henderson.
Impeccably updated and turn key ready! Unit 37 at Chapel Creek Villas stands out for both its interior design as well as it's inviting exterior courtyard space. Featurin...
Listing courtesy of Listing Agent: Douglas Henderson () from Listing Office: Callaway Estates , Douglas Henderson.
Welcome to the stunning 1004 Williston Loop, a magnificent 3-bedroom, 2.5-bathroom townhome located in the highly sought-after Wynbrooke Townhomes community of Murrells I...
Listing courtesy of Listing Agent: Blake Sloan (Fax Phone: 843-213-1346) from Listing Office: Sloan Realty Group , Blake Sloan.
This beautiful two story 4 bedroom, 3-1/2 bath townhouse overlooks the 15th fairway of the Jack Nicklaus Signature Golf Course in Pawleys Plantation. A large 3-season scr...
Listing courtesy of Listing Agent: Angie Shoemaker () from Listing Office: RE/MAX Executive , Angie Shoemaker.
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