Definition
A townhome is attached to one or more additional homes, usually found in urban areas and their surroundings.
Features
Townhomes have small footprints and are often multistory dwellings. The purchase of a townhome includes the land on which it sits, unlike a condominium.
Advantages
A townhome offers the advantages of a single-family dwelling with less responsibility for exterior maintenance and lawn care. Larger complexes may also offer amenities such as swimming pools.
Disadvantages
Compared with more traditional houses, townhomes may offer less privacy. Townhome owners may also have to pay homeowner association fees to contribute to external maintenance and other shared services.
Fun Fact
The prime minister of the United Kingdom lives in a townhome at 10 Downing St. in London.
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