Comment: Rent.

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Rent.

I currently rent a 3 bed, 2 1/2 bath townhouse with a full basement, and a one car garage through a home developer. At my previous condo/apartment complex, I was renting a 1 bed, 1 bath, and had no garage or storage space and the cost difference was only $400 a month between the two, so it was a no-brainer for me. Plus having a full size kitchen and dining room is very nice. Plus the extra bedroom for guests. I have had absolutely no contact with the developer in the two years I've been here other than sending them a check every month. If anything should break, its fixed at no charge, including kitchen appliances. Garbage collection and landscaping are included with rent, as well as snow removal, which came in handy this winter! No property taxes. No homeowners association fees. No worries, other than paying your rent, cable, internet, phone, electric, water, gas. Period.

However, recently I have been looking into buying a townhouse through this developer, but the costs would be more than I am currently paying for a similar sized townhouse when all factors like property taxes and homeowners association fees are included. Not to mention, I do not know I am going to be spending a considerable amount of time at my current location just a couple years out of college.

Additionally, when purchasing a townhouse, there is no common space areas because you are also buying a parcel of land. When you buy a condo, you are entering into an agreement with the others who are partial owners of the same parcel of land. Hence the statement by the lawyer that you quoted. If you purchase a townhouse, it is exactly the same conditions as purchasing a single family home. Let me know if you have any more questions.