Freehold vs Condo Townhomes: What Buyers Should Know
A freehold townhome means you own the land and the building with no monthly condo fee. A condo townhome shares ownership of common elements and carries a monthly fee.
Ownership
With freehold title you own the lot outright. With condominium title you own your unit plus a share of the common elements managed by a condo corporation.
Monthly costs
Freehold owners pay mortgage, property tax, insurance and utilities. Condo and POTL owners add a monthly fee that can rise over time and may include special assessments.
Maintenance and changes
Freehold owners handle their own snow, lawn and exterior repairs, but can renovate within municipal rules. Condo owners usually need board approval for exterior changes.
Which fits you?
Freehold suits buyers who want control and no fees; condo townhomes suit buyers who want shared maintenance. Bolton Place townhomes are freehold.