Or other…? Last night at the First Time Home Buyers Seminar we hosted, we reviewed a lot of great information. My main goal of the evening was to emphasize the need to do all the groundwork (Initial Consultation and Loan Pre-Approval) and to start the “Elimination” process. After all it is much easier to eliminate homes from your home search than it is to try to select “The One.” I like to take questions from the attendees as much as possible. One attendee asked me if it is better to buy a townhouse or a single family home. How do we begin to answer that question? First we should make sure we know what we are talking about. Some of these definitions vary slightly by region. In the Chicago market a condominium (abbreviated to condo) is a type of fractional ownership of a building. The individual owner holds title to a portion of the building, basically between four walls, and use of all of the common areas. There is a shared entrance (or several) into the building. In a townhouse, you still only own a porti
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