Twin home or townhouse or duplex? You can’t tell by looking at a property if it is a twin home or a 2-unit town home or a duplex… because it is about the form of ownership rather the structure of the building. The property in the photo above could be any of the three, because they all have a shared wall.To my understanding in our market, the basic differences are…
TWIN HOME
- Each unit has a separate property ID number so each side can be sold separately and usually has a different owner
- There is no Common Interest Community Association managing the whole property, so it is like owning a house but with a shared wall, which usually means both less acreage and lower cost
- Because there is no association, there are no association fees
- Each unit owner is fully responsible for insurance and maintenance of their part of the building and the yard around their unit… just like owning a house
- Because there is no over-arching governance, the two owners must work together on some things
- There are no rules or regulations except for city ordinances, just like owning a house… parties must work together to resolve any disputes
- If owners want to maintain cohesiveness of the structure, they may want to coordinate exterior maintenance (i.e. roof, windows, siding) but it is not required because each side has independent ownership; it is possible that each side could look very different from the other over time
- If there is storm damage, insurance companies from both sides may have to work together
- Each side is responsible for their own landscaping and lawn care, so each side could look very different… or they could agree to work together for maintenance
2-UNIT TOWNHOUSE
- Looks virtually the same as a twin home, but is governed by a Common Interest Community Association which sets rules, regulations and guidelines and is usually responsible for exterior maintenance and a master insurance policy
- There are usually some shared spaces
- There are typically monthly fees to cover services such as master insurance, exterior maintenance, management, etc
- Things to be aware of when searching for a condo or townhouse
DUPLEX
- Again, looks virtually the same but both units are owned by the same entity
- Sometimes the owner lives in one unit and rents the other unit
- Sometimes an investor owns and rents both units
- One entity is responsible for the entire property, as with a single family house
Sharlene Hensrud, Minneapolis-St. Paul Townhomes and Condos
The HomesMSP Team – Sharlene, John, Angela
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