With condominiums becoming increasingly popular among today's homebuyers, it is a good time to clarify the terms of ownership that seem to confuse many people. Condo-type residences most commonly fall into two categories - condominiums and townhouses.

A condominium is usually a multi-story structure. Each owner-resident has a deed of ownership for his own unit and owns the space within the unit, but not the land under the structure. Therefore, condo units can be stacked vertically. Condo owners share title to the common areas of the development, including land, exterior of buildings, hallways, roofs and swimming pools -- all areas used by all occupants. Each owner pays property taxes on their unit. Also, a monthly fee is paid to the homeowners' association that is used for managing and maintaining all common areas.

A townhouse, or town home community is usually a series of single- or two-story housing units, each linked to each other horizontally by common walls. Each owner hold title to their unit and the land beneath it, thus these units cannot be stacked vertically. Typically, a townhouse unit will be a two-story residence, with the living area downstairs and bedrooms upstairs. Common areas belonging to the townhouse development are owned jointly. Each townhouse owner pays property taxes and association fees.

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Janet Jurich, Broker Associate, Realtor
Keller Williams Realty
2206 Eastland Drive
Bloomington, IL. 61704
Phone: 309-825-2078
Email: JanetJurich@gmail.com

What makes Broker Janet Jurich a Top Expert in her area? It's easy! She has experience, knowledge, great negotiation skills and sincere dedication to her clients. As a buyer's agent her negotiating skills are among the best. As a seller's agent she also knows the value of homes in the area and provides outstanding service to get your home sold for top dollar and shortest time on the market. Janet's in depth training includes courses such as Real Estate Practice, Financing, Real Estate Law & Escrow and Real Estate Appraisal. Janet’s clients continually comment on her warm personality, patience and personal commitment in making their real estate transactions a pleasurable and worry free experience.

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