Condos for Sale in Colorado Springs
Commonly Asked Questions about Condos
There is always some confusion on the difference between a townhouse vs a condo. If you are in the market for buying a condo, here is some helpful information that may help you make the decision on whether to buy a condo vs a house.
What is a Condo?
A concept of real estate ownership. Buying a "Condo" means you own.
- The airspace within a single unit of a multi-unit dwelling.
- An equal share amongst all unit owners of common elements. For example; land and amenities in the complex (pool, recreation center, greenbelts, etc..)
What's the Difference of a Townhouse vs Condo?
A condominium, is actually a form of ownership, while “townhouse” is a description of a type of dwelling. "Townhouses" are generally attached real estate of 2 or more stories with common walls. A person may have “condominium ownership” of a townhouse, or they may have absolute ownership, like a single-family home.
What is a Condo Association?
When you’ve purchased a condo, townhome or other type of property in a planned development, you are required to join that community’s homeowners’ association (HOA) and pay monthly or annual HOA fees for the upkeep of common areas and or building. It’s recommended to review their rules before purchasing and to find information about the fees.
Comparison between Condos and Townhomes
You own the air space inside of your unit and an equal share amongst all unit owners of common elements. i.e. land and amenities in the complex (pool, recreation center, greenbelts, etc..)
The owner actually owns the home not just the airspace. Any yard, deck, garage or part of the property is owned. Unlike condo ownership, the common elements are not owned.
Condos have amenities that are common to all units in the building. Gyms, pools, common areas and party facilities are all possibilities.
Townhomes tend to not have as many amenities as condos. Walking paths, common areas and exercise areas are all possibilities.
Condos in Colorado Springs take on more of an apartment structure with units in a larger building on multiple floors.
Townhomes in Colorado Springs tend to be 2 story units with the bedrooms on the upper level and the living areas on the lower level.
For Condos, prepare to spend approximately $300/mo in condo association fees. These fees pay for amenities and services. Items like trash and water can be included in this fee.
Townhomes maintenance covers exterior maintenance like landscaping, decks and common areas like parking lots and common facilities.
Colorado Springs Condos for Sale
Townhomes and Condos are scattered around certain areas of Colorado Springs. Downtown Colorado Springs, Gold Hill Mesa, Kissing Camels and Monument are popular areas for condos and townhomes. Just recently, there have been many new condos and townhomes built in the Powers and Briargate area. These condos have just been listed in the last 14 days.