What’s the difference between condos, lofts, and townhomes?

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New ConstructionThinking About New Construction > FAQs

What’s the difference between condos, lofts, and townhomes?



Condominiums
A condominium buyer owns the space within his or her individual unit; the common parts of the property, such as the land, building structure, etc., are owned jointly by the unit owners. Each of the condo owners within a property belongs to an owners’ association which manages the complex and collects monthly association fees in order to maintain the common areas. Because unit owners do not own the land beneath their unit, condominium units are often stacked on top of each other.

Townhomes
Townhome buyers own their individual housing unit as well as the ground beneath that unit. Similar to condo owners, townhome residents belong to a homeowner’s association and pay monthly fees in exchange for the general maintenance of common outdoor areas. Townhomes are usually a series of units that are linked to each other horizontally by common walls.

Lofts
Traditionally, a loft buyer owned a large, open space above a commercial or industrial space. Loft living originated in Paris, and was usually owned by artists as a combination residence and studio. Over the past 100 years, however, loft living has evolved and is defined as any apartment-like units with open floor plans, huge windows, and exposed fixtures, in an urban setting.

What is Green Construction?
Green building uses design techniques, materials and technologies meant to minimize a building’s impact on the environment, both in its construction and its continuing operation.

A Green building lowers both environmental impact and costs by using sustainably harvested or recycled materials durable enough to last generations. Green buildings also avoid toxic materials and are designed to minimize construction debris and indoor pollutants.
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