(Photo credit: pnwra/Creative Commons)
If you’re looking for a property that strikes a balance between a house and a condo, a townhouse might be the option you’re looking for.
There are many different types of townhouses available and knowing the difference and which type you want will make a difference in your homebuying experience.
Traditional townhouse
The classic townhouse is one that typically has two or three houses lined up next to each other with shared walls. These properties may offer residents their own garage, a backyard and their own entrance. These properties typically have multiple floors and they’re considered medium-density buildings. Property maintenance is the responsibility of the owner. Homebuyers have freehold ownership, which means they own both the land and the property on it and they can make any changes they want to it, as long as it complies with municipal, provincial and federal laws.
Stacked townhouse
As the name suggests, this is when two townhouses are stacked on top of each other. These are becoming a trend in some cities, such as Toronto, since it provides owners a house-like atmosphere with two floors, but also the condominium management style with shared services. Since these townhouses are shorter in height, they can be built out of wood frames, which lowers the cost per square foot for a residence, according to the Toronto Sun. They also don’t need amenities such as hallways or lobbies, which means lower maintenance fees for residents.
Urban townhouse
This type of townhouse is taking off in Toronto and the GTA. These townhouses are named for its urban neighbourhood location near transit and many amenities within close distance for residents. These types of homes offer more space for those who have lived in condos and residents are surrounded by fewer neighbours. Many of the newer urban townhouse developments are taking inspiration from condos with modern architecture and design elements incorporated into the houses. Some properties also offer parking and private rooftop terraces or outdoor patios. In some cases, these types of townhouses may even be part of a larger condo complex and share its parking and amenities.
Before deciding on a property, make sure to properly research its builder. If you’re buying a newly built home, you’ll be eligible for an HST housing rebate. The amount you can claim from the CRA is dependent on the province you reside in. Rebate4U helps you file HST rebates properly and our priority is to provide our clients with the most professional and quality service in obtaining rebates for their new and renovated homes. We are proud to offer our clients the most personal and attentive service, and we make sure that all of our clients are 100% satisfied.