Not every first-time buyer needs a big yard and detached roof.

Condos and townhomes offer a different kind of freedom — less maintenance, lower price points, and more location options.

But they also come with a few things you need to know before you commit.

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1. You’re Buying Into a Community — and a Contract

Condo and townhome communities come with HOAs (Homeowner Associations).
That means:

• Monthly HOA fees
• Community rules
• Shared decision-making

💡 Citrus Tip: Always ask for a copy of the HOA bylaws and budget before you buy. Know what’s covered (and what isn’t).

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2. There Are Two Types of Ownership

With a condo, you own the inside — but the land and exterior are shared.
With a townhouse, you usually own the structure and the land underneath (but still pay an HOA).

📘 Translation: Condos = apartment-style living. Townhomes = more like a traditional house.

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3. Loans and Insurance Work Differently

Lenders treat condos differently than single-family homes.
Things that can cause issues:

• High delinquency rates in the HOA
• Low reserves
• Pending lawsuits

Insurance also varies — you’ll often need a walls-in policy for a condo and a full homeowners policy for a townhouse.

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4. You Still Need to Think Like an Investor

Even if you’re living in it, ask:

• Can I rent this out later?
• What are resale values in this complex?
• Is the HOA healthy or broke?

Don’t just buy the unit. Buy the future potential.

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5. Perks You’ll Love (If You’re the Right Fit)

• No lawn care
• No roof replacement
• Usually cheaper utilities
• Prime locations near cities, public transit, shops

Townhomes and condos are freedom disguised as downsizing.

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Final Thought:

Don’t let ego or HGTV dreams make you overlook the condo lane.
This isn’t “settling.” It’s strategizing.