Lofts, Town Homes or Condos: How to Tell the Difference

Many people have a hard time with terms when thinking of the best place to purchase or rent as their home. They just find it difficult to tell which is which. Setting aside the factors like price, location and the number of spaces in a building with lots of available dwelling places, people searching for places own niches are often confused with the descriptions. As such, they might mistake a loft apartment for a condo or a condo for a town home. Well, this article will settle the matter once and for all and will be helpful when thinking of buying a house in Philadelphia.  

The Condominium

First and foremost, the number one criterion that is considered top priority in selecting a home to buy or rent is the home seeker’s lifestyle.  A lot of the big bosses of businesses typically want a place to unwind in after a harried day in the office. As such, they usually prefer something that is similar to a resort. When this is what a person wants, then a condominium unit in Washington Square or anywhere in a high rise building can be the perfect choice. The close proximity of such dwellings to the heart of the city provides quicker travel times from the office to the home and from the home to the various entertainment venues downtown. 

In fact, downtown condominiums are built close to business establishments. Plus, more often than not, condos come with certain perks like training facilities, swimming pools, racquet clubs and other opportunities for leisure that are kept running by a homeowners association.

In this sense, anyone who owns a condo actually owns only the things inside his unit. The building itself and the land it stands on is the possession of the association of homeowners. 

The Loft

A loft is a place that is part of a building that was not intended to be a living space in the first place. It is usually built from a converted warehouse or a factory that has been abandoned. Furthermore, a loft is usually located in a commercial section of the city. For instance, if you are looking for Philadelphia lofts for sale, you will notice that many of them are located near the major trucking routes east and north of the heart of the city. Not like a condo, a loft is more spacious and has higher ceilings. Plus, anyone who wishes to live in a loft may be required to pay for property maintenance but does not have to become part of an owners association.  Basically, a loft is a blank space that is perfect for persons who want to design their homes themselves. As such, artistic individuals appreciate the lofts in Northern Liberties.

The Townhouse

A townhouse or townhome is different form a loft or a luxury condo on Rittenhouse Square. Becoming an owner of a townhouse gives the buyer outright and exclusive ownership. Generally, townhouses in the Philadelphia museum district may be made up of 16 units in all. For each townhouse, there is a small outdoor living space that the owner can develop according to his taste. In the suburban areas mingling with the luxury homes on the Main Line, communities of townhomes stand alongside single family homes. When this is the case, homeowners associations exist in order to maintain the community amenities as well as the grounds.

Additionally, with the size of the exterior living space, townhouse owners may opt to get professional landscapers to develop the area. However, even though the town homes in Philadelphia lack ample exterior living spaces, they compensate for this lack by being close to cultural activities nearby.  

And so, when buying a house in Philadelphia, it is vital that the expertise of a buyers agent in Philadelphia is sought. This is because that person can be trusted to know the pros and cons of living in the various neighborhoods in the city. Further, he can be relied on to pick the different Philadelphia lofts for sale or townhomes in the Philadelphia museum district.

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