Orlando Townhomes vs. Condos

What is the difference between Orlando Townhomes vs. Condos?

1) Legal Description


Traditionally, Orlando townhomes are usually a 2 story unit (upstairs and downstairs), and condos are usually one level in a multi-level building (like an apartment).   Many times you cannot spot  the difference between Orlando Townhomes vs. Condos because sometimes the condos look just like the townhomes!  This can be confusing until you look at the legal description.


Even though Orlando townhomes units are attached, the home owner also owns the ground or lot that the Orlando townhome sits on.  This ownership is called “fee simple” just like a single family home is called.


In a condo, the land under the  condos is shared equally with all the other condo owners.   So the best way to tell if you are looking at a townhome or condo ownership is to look at legal description.


Read the legal description in the two photos below.  Can you see the difference?


Orlando townhomes vs. Condo


Orlando Townhomes can look like condos





Condos will have the word “Condominium” or “Condo” in the legal description.  Orlando Townhomes will have “lot” number in the legal description.  That’s how you can tell the difference between Orlando Townhomes or Condos even when the structures may look the same.


2) Financing


Orlando Townhomes are easier to get a mortgage for. Buyers can buy Orlando townhomes with less financing challenges than condos.  There are many reasons condo financing is difficult, as not all condos can be financed.  Condo’s  that can be financed typically require a 20% downpayment.  If you are financing, its better to search for Orlando townhomes.


3) Home Owner Insurance


Exterior home owner insurance is paid for through the condo association which is included in your monthly condo maintenance fee.  If you purchase Orlando Townhomes, you will have to provide your own exterior home owners insurance.


If you are interested in purchasing Orlando Townhomes or condos,  Buyers Broker of Florida can help you navigate the different challenges that come with each property type.  We can discuss all your options and help find the right home for you. Call us. 407-539-1053

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