A townhome:

• Is a particular style of housing which share adjacent walls with other townhomes in the development
• The owner owns the structure and its corresponding land
• There is a Home Owners Association (HOA) that provides governing rules, regulations and some maintenance and some insurance. They may also provide recreational amenities. Owners pay an HOA fee

A condominium:

• Is similar to the definition of a townhome (see above) with the exception that the corresponding land is owned by the Home Owners Association and not by the individual condo owners
• A condo owner owns from the interior walls inward
• There is an owners association, usually called a Condominium Association that provides governing rules, regulations and some maintenance and insurance. They may also provide recreational amenities. Owners pay a condo fee

The NRV Team has over 43 years combined real estate experience in the New River Valley. We provide old fashioned service with a high tech edge. Contact us for confidential advice and recommendations.