What does that mean?

In my years as a real estate agent I have been asked what the difference is between different sorts of structures.  These are the best definitions that I think answer those questions.

Condominium:  People often think of "Condo's as glorified apartments and while that may be true you have a difference here where you OWN that glorified "apartment " thus having tax breaks.  You own from the plaster in and certain elements of the community. IE: common area's, sidewalks, driveways, gates, swimming pools etc.  While most people thing of Condo's as where you live, they can also be used for office buildings and strip malls.  Some even come with one car garages .                 This site plan is usually how a condo community is laid out.  

Townhouses:  are usually two story but can be one story and are attached on one side or both, but do not have anyone either above or below.  They also usually have your own back yard and garage.  I live in a townhouse as it is attached on one side.  They have become very popular in the Las Vegas area.                                  This is some pictures of my townhouse

         My Back Yard, again with privacy.                           Front of the house we are attached by a common wall way to the left but you can see we have lots of privacy.

Other terms you might hear about a single story town home would be, patio home, carriage house, or duplex.

I suspect everyone knows what a Single Family Home is, you own your house and land and there are specific boundaries or lot lines that define your property.

In Las Vegas we have seen big growth is the High-rise, Mid-rise, Loft concepts.  Here in Las Vegas these type of units are being built around cities unto themselves.  With retail, doctors, hair dressers, dentist and a whole lot more are being incorporated with in the development.

These are a few current developments.

Curve High-rise                                                 Pinnacle Lofts                                                    

Trump Towers    

I am sure in different parts of the country different types of properties have different names but these definitions are common in the Las Vegas market. 

In an article in the Las Vegas Review Journal, our local paper.  Master planned communities with neighborhoods of single family homes are on their way out and townhome communities are on the way in.  The main reason is the lack of land left in the Las Vegas area.  The land that is left is is very costly.  Las Vegas is part of a nationwise move toward urban living.  Townhomes,Condo's,Hisrise,Midrise,and the towers.  The move towards this way of living is the boomers.  They don't want to take care of houses anymore.  So they are very interested in this lifestyle.