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Townhouses are one of the most popular ways into the Mississauga market. But two townhouses that look identical can be owned in very different ways, and that affects your costs, your rules and your resale value.
| Freehold townhouse | Condo townhouse | Common-element (POTL) townhouse | |
|---|---|---|---|
| What you own | The home and the land under it | Your unit, plus a share of the common areas | Your home and land, plus a share of shared roads or amenities |
| Monthly fee | None | Yes, often covering exterior upkeep | Usually a smaller fee for the shared elements |
| Who maintains the outside | You | Usually the condo corporation | You, except the shared elements |
| Rules | City bylaws only | Condo rules and bylaws | Some shared rules |
Questions to ask before you buy
- For a condo townhouse: What does the fee cover, and how healthy is the reserve fund? Ask for the status certificate and have your lawyer review it.
- For a common-element townhouse: What exactly is shared, and what is the monthly fee?
- For any townhouse: Is there parking for two cars, and where do guests park?
Which is right for you?
Freehold suits buyers who want full control and no monthly fees. A condo townhouse suits buyers who want less maintenance and don’t mind rules. A common-element townhouse sits in between.
Shopping for a townhouse? Book a buyer consultation and I’ll help you compare the real monthly costs of each option.
