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
Park West Townhomes in Murrells Inlet
Riverbend at Enterprise
Pine Island Townhomes
Ocean Keyes in North Myrtle Beach
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.
Marina Colony is a small townhome complex located across the street from the inlet. A TRUE townhouse where you own the land. Walking distance to the Murrells Inlet Marsh...
Listing courtesy of Listing Agent: Dave Pursley () from Listing Office: Palmetto Coastal Homes.
Welcome to 145 Wimbledon Way, a charming 2-bedroom, 2.5-bathroom townhouse nestled in the scenic Wynbrooke Townhomes community of Murrells Inlet. Boasting a prime locatio...
Listing courtesy of Listing Agent: Blake Sloan (Fax Phone: 843-213-1346) from Listing Office: Sloan Realty Group.
Great opportunity to own an end unit three bedroom two-and-a-half-bathroom townhome with a two-car garage in The Fairways at Wild Wing! Located on a corner lot, this town...
Listing courtesy of Listing Agent: Candace Bourne (Cell: 843-602-3004) from Listing Office: RE/MAX Southern Shores.
Welcome to this beautiful townhouse located in the much desired area of The Fairways at Wild Wing. This home has everything you could ever want with square footage for d...
Listing courtesy of Listing Agent: Darren Woodard Team () from Listing Office: BRG Real Estate.
Welcome home to the ideally situated Park West community in Murrells Inlet! This impeccable townhome offers so many beautiful finishes and has been beautifully maintained...
Listing courtesy of Listing Agent: The Anderson Team () from Listing Office: Beach & Forest Realty.
This Gorgeous 3 Bedrooms, 2.5 baths, and private 2 car garage model townhouse is located in Wentworth Park downtown Market Common under 3 miles to the Ocean! This townhou...
Listing courtesy of Listing Agent: The Roark Group (Cell: 843-447-9138) from Listing Office: RE/MAX Executive.
Water view! Exterior unit spacious 3-Bedroom 3-Bath is MOVE-IN READY April 2024 and comes with the owner suite and 2nd bedroom on the first floor and a large bedroom and...
Listing courtesy of Listing Agent: Douglas Martin () from Listing Office: Lennar Carolinas LLC.
Centrally located in Murrells Inlet, Moss Creek is in a desirable location, within close proximity to all the offerings on the famous Marsh Walk, great shopping, and fabu...
Listing courtesy of Listing Agent: Lauren Call () from Listing Office: Going Coastal Realty.
Check out this Gorgeous 3BR/2.5BA newly renovated townhome. You'll be astonished by the exquisite views of this home from the well-known and unparalleled view of the "Ame...
Listing courtesy of Listing Agent: April Oakley () from Listing Office: BRG Real Estate.
Welcome to your dream home in the heart of Myrtle Beach! This brand-new 3-bedroom, 3-full bathroom townhome offers a perfect blend of modern design and convenience. Upon ...
Listing courtesy of Listing Agent: Laura Finigan () from Listing Office: Lennar Carolinas LLC.
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