There is a lot of confusion on the difference between a townhouse and a condo.
A townhouse owner owns more than the inside of the unit they just bought. They also own the roof and the siding on their section of the building.
Your agent may ask you if you are responsible for the exterior of your home, if you own a townhouse, more than likely you do.
Now if you have a condo, like an apartment, you are most likely not responsible for the exterior of your home. This would be on the Condo Association and you may have dues you pay to help with the upkeep.
Each of these types of houses may come with a coverage called “Loss Assessment”. In my own words, that coverage is there to help pay for a loss within the Condo Association or Homeowners Association. If you have a condo, be sure to ask your agent about this coverage.
Still have questions, reach out and let me know. I am here for you.