Townhome Vs Condo In Reno

Thinking about a low-maintenance place in Reno but not sure whether a townhome or condo is a better fit? You are not alone. First-time buyers and downsizers often want a lock-and-leave lifestyle without surprises in financing, HOA rules, or upkeep. In this guide, you will learn the real differences in ownership, costs, and day-to-day living in Reno’s Downtown and South Reno neighborhoods, plus a practical checklist to shop with confidence. Let’s dive in.

Key ownership differences in Nevada

What you own in a condo

In a condominium, you typically own the inside of your unit from the drywall in. You also share ownership of the building’s common elements like the roof, exterior walls, hallways, elevators, landscaping, and land. The project is governed by recorded CC&Rs that define unit boundaries and what the HOA maintains.

Nevada’s common-interest community laws set how HOAs operate. Those rules affect budgets, reserve studies, records access, and assessments. For you, that means the condo’s governing documents and HOA health matter as much as the unit itself.

What you own in a townhome

Townhomes come in two flavors:

• Fee-simple townhome: You own the home and the land beneath it, including exterior walls and roof. The HOA, if any, usually covers shared landscaping or small common areas.
• Condo-form townhome: It looks like a townhome, but legally it is a condo. You own the interior only and share the rest as common elements.

Functionally, fee-simple townhomes live more like single-family homes. Condo-form townhomes live more like condos. The difference shows up in who fixes the roof and how lenders review the property.

How HOAs affect daily life and costs

Who maintains what

• Condos: HOAs often handle the roof, exterior paint, building systems, common landscaping, and sometimes utilities. You usually handle interior finishes and appliances. Balconies and patios vary by CC&Rs.
• Fee-simple townhomes: You often maintain your roof, exterior, and any small yard. The HOA may handle common landscaping, entry gates, and private roads. If a townhome is legally a condo, responsibilities mirror a condo.

In Reno, seasonal needs matter. Snow removal in South Reno townhome communities can be an HOA line item. Downtown condos may rely more on building staff or city services for sidewalks and streets.

Documents to review before you buy

Request these items early so you can evaluate risk and costs:

• CC&Rs, bylaws, and rules and regulations
• Current budget, financial statements, and recent reserve study
• Reserve funding plan and special assessment history
• Minutes for the last 12 months of board meetings
• Certificate of Insurance and master policy declarations
• Litigation disclosures
• Owner-occupancy and rental ratio stats
• Parking and storage assignments

These documents show who pays for what, how well the HOA plans for big repairs, and what restrictions could affect your lifestyle.

Signs of a healthy HOA

• Reserve fund: A recent reserve study and a plan to fund it. Underfunded reserves can lead to surprise special assessments.
• Dues versus services: Higher condo dues can be reasonable if they cover big-ticket items like roofs, elevators, or utilities.
• Delinquency: High delinquency can point to future cash-flow issues.
• Assessment history: Frequent or large special assessments can signal deferred maintenance.

Reno’s high-desert climate means landscaping and irrigation are ongoing expenses. If you are looking Downtown, also ask about any floodplain considerations near the Truckee River.

Financing and insurance factors

Loans: condo vs fee-simple townhome

Many lenders treat fee-simple townhomes like single-family homes. That often means no project-level condo review is needed. By contrast, condominiums can require project approval or a detailed review, especially for FHA and VA loans.

If you plan to use FHA or VA, verify early whether the condo project meets program requirements. Even with conventional loans, lenders consider project financials and owner-occupancy ratios. This affects both your loan today and your future resale pool.

Insurance: HO-6 vs HO-3

• Condos: You typically carry an HO-6 policy that covers interior walls, improvements, personal property, liability, and often loss assessment. The association carries a master policy for the building exterior and common elements.
• Fee-simple townhomes: You may need a broader dwelling policy, such as HO-3, because you likely own the structure and exterior. The HOA’s policy, if any, usually covers common areas only.

Confirm the association’s master policy type: all-in, bare-walls, or walls-in. Ask about master policy deductibles and whether you need specific loss assessment coverage.

Taxes and title basics in Washoe County

Fee-simple townhomes are usually taxed and titled like single-family homes. Condos are titled as a separate unit with an undivided interest in the common elements. It is smart to confirm parcel details and current taxes with county records once you have a specific property.

Downtown vs South Reno: what fits you

Downtown Reno condos: lifestyle and trade-offs

Downtown offers walkability to restaurants, entertainment, and the Riverwalk. Buildings range from loft conversions to mid-rise condos. Many projects include amenities and building maintenance, which can mean higher HOA dues but less exterior work for you.

Consider parking assignments and guest parking. Ask about proximity to the entertainment district, potential noise, and the building’s age and construction type. For properties near the Truckee River, confirm any flood considerations.

South Reno townhomes: space and simplicity

South Reno neighborhoods, including the South Meadows and Damonte Ranch corridor, feature newer attached communities with garages and easy access to parks and trails. Many are fee-simple townhomes, which can simplify financing and broaden future resale options.

HOAs here often focus on front-yard landscaping, snow removal on private roads, and community amenities like pools and parks. You typically have easier parking and direct garage access. Commutes to I-580, the airport, and employment centers are straightforward.

Short-term rentals and rules

Reno and Washoe County regulate short-term rentals. Many HOAs also limit or prohibit them. If rental income matters to you, verify municipal STR rules and the HOA’s leasing policies, including any rental caps and minimum lease terms.

A practical buyer checklist

Use this list before you write an offer or during your due diligence period:

• Ownership type: Confirm whether the home is fee-simple or a condo-form townhome. Understand who maintains the roof, exterior, and landscaping.
• HOA health: Review the budget, financials, reserve study, and last 12 months of board minutes. Ask about planned projects and any special assessments.
• Rules and lifestyle: Read the CC&Rs and rules for pets, parking, smoking, noise, remodeling approvals, and exterior changes.
• Rentals: Verify owner-occupancy rates, rental caps, and short-term rental rules.
• Lender eligibility: If you need FHA or VA, confirm project eligibility early. For conventional loans, ask your lender about any project questionnaire and review timelines.
• Insurance: Get the HOA master policy declarations and ask your insurance agent about the right HO-6 or HO-3 coverage and recommended loss assessment limits.
• Parking and storage: Confirm assigned spaces, guest parking rules, and storage availability in writing.
• Utilities: Learn what HOA dues cover, such as water, sewer, trash, gas, cable, or internet, and what is separately metered.
• Hazards: For Downtown, check floodplain considerations. Ask about drainage and any known hazard disclosures.
• Title and taxes: Review title exceptions that affect common areas or easements and confirm tax amounts and parcel type.

Choosing what is right for you

If you want maximum lock-and-leave living with exterior maintenance handled, a condo can be a great fit, especially Downtown. You may pay higher dues, but you also offload big-ticket upkeep. If you prefer more control over the structure and want simpler financing, a fee-simple townhome in South Reno may suit you better.

There is no one-size-fits-all answer. Match the ownership type to your budget, maintenance tolerance, and lifestyle priorities. A careful review of the HOA’s documents will tell you more about your real costs than a quick look at dues alone.

Ready to compare options and run the numbers on specific buildings and communities? Reach out to Benjamin Florsheim for local guidance, from Downtown towers to South Reno townhome villages. We will help you review HOA documents, confirm financing paths, and choose the right lock-and-leave home with confidence.

FAQs

In Reno, which is easier to finance: a townhome or a condo?

• Generally, fee-simple townhomes are easier because lenders treat them like single-family homes, while condos often require project-level approval.

Who handles exterior repairs for each property type?

• Condos typically have the HOA handle roof and exterior work; fee-simple townhome owners usually handle their own exteriors unless CC&Rs say otherwise.

Do condos always cost more per month than townhomes?

• Not always. Condos often have higher dues that cover big-ticket items and amenities, while townhomes may have lower dues but more owner-paid maintenance.

What should I review in the HOA documents before buying?

• Review CC&Rs, rules, budget, financials, reserve study, meeting minutes, insurance, litigation disclosures, and rental-occupancy statistics.

How do Downtown and South Reno options differ in daily living?

• Downtown leans urban and walkable with mid-rise condos and amenities; South Reno offers more fee-simple townhomes with garages, easier parking, and suburban conveniences.

Can I use short-term rentals in these communities?

• It depends on local rules and the HOA. Many communities restrict or prohibit short-term rentals, so verify both before you buy.