Condo vs Townhome On The Eastside

Trying to choose between a condo or a townhome on the Eastside? You are not alone. With Redmond’s tech-fueled growth and nearby Bellevue and Kirkland offering plenty of options, it can be hard to see which property type truly fits your lifestyle and budget. In this guide, you will learn how ownership, HOA fees, maintenance, insurance, financing, and resale dynamics differ so you can buy with confidence. Let’s dive in.

Condo vs townhome at a glance

• Condos: You own the interior of your unit and share ownership of common areas. The HOA typically manages the building exterior and amenities.
• Townhomes: You often own the structure and the land beneath it. An HOA may still exist, but exterior responsibilities vary by community.
• Bottom line: Condos are usually lower maintenance. Townhomes often feel more like a house and may come with more owner responsibility.

Ownership and legal basics in Washington

Condominiums are a common-interest form of ownership. You own your unit’s interior (often defined as “air space”) and hold an undivided interest in common elements like the roof, exterior, hallways, and amenities. Recorded documents such as the declaration and bylaws define boundaries, rules, and your share of expenses.

Townhomes on the Eastside are frequently fee simple, which means you own the home and the land under it. Some townhomes are created as condos or planned communities, so the legal form can vary. Always review recorded CC&Rs, plats, and bylaws to confirm what you own and what the HOA controls.

Key distinction to remember: land ownership. Townhomes generally include a land interest, while condos typically do not. This affects renovations, insurance needs, and long-term maintenance planning.

HOA fees, rules, and financial health

Condo HOAs commonly cover the building envelope, roofs, exterior walls, parking structures, elevators, and shared systems. Some utilities may be master-metered and included in monthly dues, which can raise dues but lower separate monthly bills.

Townhome HOAs usually focus on common areas like landscaping, roads, and shared driveways. Exterior coverage varies widely. In some communities, the HOA maintains siding and roofs; in others, each owner is responsible for those items.

Monthly dues reflect amenities, age and condition, building complexity, reserves, and insurance costs. On the Eastside, condos with elevators and amenities often carry higher dues than simpler townhome communities. That said, newer, amenity-rich townhome developments can be comparable. Always evaluate dues alongside your mortgage, taxes, and insurance.

Strong reserve funds matter. Good HOAs complete reserve studies and fund long-term repairs. Low reserves increase the risk of special assessments, which can be substantial, especially for large building repairs. Ask for the current budget, latest reserve study, insurance policies, financials, meeting minutes from the last 12 to 24 months, and any information on pending litigation.

Rules and restrictions can affect your plans. Condos often have stricter rules around rentals, pets, and remodeling. Townhome communities can have limits too, and rental restrictions can impact financing options and resale.

Maintenance and insurance responsibilities

In a condo, you typically handle interior upkeep while the HOA covers the building’s exterior and common systems. This reduces day-to-day coordination for you, but you share costs with your neighbors through dues and potential assessments.

In a townhome, you may be responsible for exterior elements like roof, siding, decks, and driveways unless the HOA covers them. This can mean more hands-on maintenance and long-term planning for big-ticket items.

Insurance differs by structure. Condos usually have a master policy that insures common areas and the building shell to a defined extent. You buy an HO-6 policy for interior improvements, personal property, and liability. Townhome owners with fee simple ownership often carry HO-3 or HO-5 policies that insure the full structure, while the HOA holds a limited policy for shared spaces.

Ask about deductibles. Some HOAs have high deductibles on the master policy and require owners to share in those costs. Review the master policy and clarify who pays what if a claim occurs.

Utilities and services

Condo utilities like water, gas, or heat may be master-metered and included in dues. This can simplify your monthly bills, but it increases HOA operating costs.

Townhome utilities are frequently individually metered. You manage your own usage and accounts, which creates more direct control over monthly expenses.

Financing differences and approvals

Condos may require project-level approval for FHA, VA, and some conventional loans. Lenders look at owner-occupancy ratios, reserve levels, litigation, and other risk factors. If a building does not meet guidelines, certain loan options may not be available.

Townhomes that are fee simple are often treated like single-family homes by lenders, which can simplify financing. Loan terms still depend on your credit, down payment, and the property’s characteristics, but project-level hurdles are less common for fee simple townhomes.

Financing rules can affect resale. If a condo community lacks approvals or has risk flags, your future buyer pool could be smaller.

Eastside market and resale considerations

Demand across Redmond and the broader Eastside is shaped by proximity to major employers like Microsoft, access to transit corridors, and neighborhood amenities. Both condos and townhomes benefit from these drivers.

Condos often offer lower entry prices and lower day-to-day maintenance. However, building-specific issues like deferred exterior repairs, litigation, or poor reserves can impact values and buyer demand. Large capital projects have led to special assessments in some Seattle-area buildings historically, so careful review is essential.

Townhomes feel closer to single-family living and may appeal to a wider buyer pool at resale. If many similar units hit the market at once, sellers can face competition. Exterior maintenance quality can also influence curb appeal and price trends.

Local nuance matters. On the Eastside, proximity to transit, commute routes, and amenities often outweighs the property type itself in determining resale strength.

Lifestyle and budget tradeoffs in Redmond

• Budget: Condos can offer lower upfront prices and fewer maintenance tasks. Townhomes may command higher prices but provide more space and a house-like feel.
• Space and privacy: Townhomes usually offer multiple levels, private entries, and sometimes small yards. Condos trade space for convenience, services, and amenities.
• Maintenance comfort: If you want low effort, condos can be appealing. If you want more control and are comfortable planning for exterior upkeep, a townhome may fit.
• Long-term value: Townhomes often attract a broader buyer base, while condo values are more building-specific. The right location can support both.

Due diligence checklist for Eastside buyers

• Request HOA documents early: CC&Rs, bylaws, rules, budget, latest reserve study, insurance declarations, meeting minutes from the last 12 to 24 months, and a certificate of assessment.
• Clarify insurance: What does the master policy cover? What is the deductible, and how is it allocated?
• Ask about capital projects: Any pending special assessments or major repairs planned in the next 5 years?
• Check reserves: Current balance, recommended contributions, and upcoming replacements like roof, siding, elevators, or paving.
• Understand usage rules: Rental restrictions, occupancy ratios, and pet policies.
• Litigation status: Active or pending claims can affect financing and resale.
• Inspections: For townhomes where owners maintain exteriors, get a thorough inspection of roofs, siding, decks, and drainage. For condos, focus on unit systems and ask about building envelope history where accessible.
• Financing: Speak with lenders experienced in Seattle-area condo and townhome loans, especially if you plan FHA or VA financing.

Which option fits your plan?

• First-time buyer prioritizing convenience: Consider a condo in or near downtown Redmond with strong reserves and clear rental rules. You will trade space for lower maintenance.
• Relocating professional wanting more room: Consider a townhome near Microsoft, SR 520, or I-405 for an efficient commute. You gain multi-level living and a more house-like feel.
• Investor or resale-focused buyer: Scrutinize condo project health, rental mix, and approvals. A fee simple townhome may offer a broader future buyer pool.

Next steps

If you want a clear, step-by-step path to the right Eastside home, let’s talk through your priorities, budget, and timeline. We will review HOA documents together, map financing options, and match your lifestyle to the best locations near work and transit. Reach out to Michael Nix for a tailored conversation and a confident next move.

FAQs

What is the main difference between condos and townhomes on the Eastside?

• Condos typically include ownership of the unit’s interior with shared ownership of common areas, while townhomes often include ownership of the structure and the land under it, subject to HOA rules.

How do HOA fees compare for condos vs townhomes in Redmond?

• It varies by community. Condos with elevators and amenities often have higher dues, while simpler townhome HOAs can be lower, though newer, amenity-rich townhomes can be comparable.

Who covers exterior repairs like roof and siding in Eastside communities?

• Check the governing documents. Condo HOAs usually cover the building envelope and roof. Townhome responsibilities vary, and owners may be responsible unless the HOA provides exterior maintenance.

Are condos harder to finance than townhomes in the Seattle-Bellevue area?

• Some condo loans require project approval and can be limited by litigation, low reserves, or investor ratios. Fee simple townhomes are often financed like single-family homes with fewer project-level hurdles.

What due diligence should I do before buying a condo or townhome in Redmond?

• Review CC&Rs, bylaws, budget, reserve study, insurance declarations, recent meeting minutes, and any litigation. Ask about upcoming capital projects, special assessments, and master policy deductibles.