Differences between a townhome and condominium are important to buyers, which is why Monterey Homes should not have promoted its Scottsdale Sandalo development as townhomes when Monterey's written documentation states they are condominiums!

Real Estate Definition of a Townhome: A townhome (also known as townhouse) is similar to a single-family house because the owner owns both the structure and the land on which it sits, and often a small back or front yard too, but the townhome is not free-standing and is attached. The land on which it is built is typically limited to a small yard (if allocated), plus the land directly under the unit. Townhouses are attached to other townhomes in a row, and are usually two or three stories tall but sometimes they can also be single-story or ranch style. They share some of the features of condominium developments (often including amenities such as a pool), with land ownership considered the most legally distinguishing characteristic.

Real Estate Definition of a Condominium: As are townhomes, condominiums are attached to each other. If you own a condominium, you do NOT own the land surrounding or under your living space. A condo owner owns air space rights in the unit itself, which is taxed as an individual entity, and often a percentage of all the common areas of the condominium community. Condo communities may offer shared facilities such as as a swimming pool, gym, tennis courts and clubhouse, all maintained by the HOA or condo association, which also handles management tasks. Condominium owners pay a monthly fee to the condo association, which also establishes and enforces specific written HOA rules for the community.

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