Distinguishing between condos, townhouses, and lofts
If you are a prospective homeowner and planning to buy a home in Madison, WI you are bound to get puzzled by the jargon used by realtors to describe different types of properties. There are lofts, condominiums, townhouses and loads of other terms that could leave you in a tizzy trying to figure out what is what.
One way to know the difference is to ask a Madison downtown realtor who would be able to explain the basic differences between these styles of homes.
They are the best people to get in touch with if you are looking for Madison lofts for sale in the downtown area.
Another efficient way is to look online for homes for sale in Downtown Madison WI with plenty of new properties up for sale in the market.
The basic differences between condos, townhouses, and lofts are as follows:
Townhouse: These are terraced row houses with a common shape and size with shared walls. They are single-family units with separate entrances. In the UK in the past townhouses were owned by the nobility and aristocrats in the capital to stay when they attended parliament. A townhouse owner does not only have to pay for the living area but also for the ground around it. This could make it more expensive than a condo. The owner has to deposit a sum of money with the homeowners association to maintain the complex. Townhouses offer more privacy to owners. Generally, the structure is limited to the ground level with maybe a terrace.
Condos: Also called condominiums they are of houses with common ownership. They are also called apartments or special units. A condo owner owns the interior of the home he has bought. IF they want to use other amenities in the complex a monthly fee is applicable. There is an association formed of condo owners. The owner has to pay property tax for their own living area. These are generally built in multi-storeyed complexes and are relatively safer because of the neighborhood in close proximity. There also are luxury condos in Downtown Madison, WI that come with special amenities and are prized for their location with incredible views of the city. These are much more expensive than standard condos in Madison with the price charged at per square-foot. They offer the most luxurious finishing as well.
Lofts: These have become a trend with city dwellers and comprises of a large open space with spacious windows and high ceilings. These were originally a favorite with bohemians, writers, and artists. They are classified into hard and soft lofts. Hard lofts are generally former warehouses modified to serve as apartments. On many an occasion, they are part of the gentrification of an area. Several of them retain their old features especially in heritage buildings like exposed brick walls, concrete floors, and ceilings, visible ductwork etc. The main drawback with many hard lofts is that they are not very energy efficient. Many of these industrial hard lofts serve as work as well as living spaces for their owners.
Soft lofts are similar to hard lofts but generally recently built. Instead of the regular concrete, they might offer wooden flooring with all plumbing and ductwork concealed in drywall. They offer a spacious living area with large windows in a classic condo style.