Edina Condo vs Townhome: Key Differences

Deciding between a condo and a townhome in Edina can feel like splitting hairs until you see how the differences shape your monthly costs, maintenance, privacy, and even your loan options. If you want low upkeep without sacrificing comfort or convenience, choosing the right structure matters. This guide gives you a clear, local look at ownership, HOA scope, lifestyle tradeoffs, parking, financing, and resale so you can move forward with confidence. Let’s dive in.

What you actually own

Understanding the legal form is the first step. In Minnesota, the recorded declaration and plat define ownership and responsibility. This affects your maintenance, insurance, taxes, and financing options.

Condos in Minnesota

With a condominium, you typically own the interior airspace of your unit plus a shared interest in the common elements. The association usually maintains the building exterior, roof, land, and shared systems. You focus on your interior and personal property while paying monthly dues for the building and grounds.

Townhomes in Minnesota

“Townhome” is a broad term. In Edina, you will see two common versions:

• Fee-simple attached homes. You own the unit and the land under it. An HOA may maintain shared spaces, but you might be responsible for your roof, siding, and yard unless the declaration says otherwise.
• Townhomes organized as condominiums. These look like rowhomes but are legally condos. Responsibilities mirror a condo structure.

Before you write an offer, review the recorded declaration, bylaws, and plat. You can also verify the property’s legal description in Hennepin County records to confirm whether it is a condo or fee-simple.

HOA scope, fees, and reserves

The HOA’s responsibilities drive your monthly dues and long-term costs. The details are in the documents, not in the marketing.

What condo HOAs cover

Condo associations commonly maintain building exteriors, roofs, common utilities, hallways, elevators, landscaping, snow removal, and common area insurance. Some buildings also include heat or water in the dues. You typically carry an HO-6 policy that covers interior finishes and personal property.

What townhome HOAs cover

Townhome coverage varies. Fee-simple townhomes may have an HOA that handles only shared landscaping, private roads, and amenities. Owners may be responsible for exterior elements and roof. In some communities, the HOA covers full exterior care. Townhomes built under a condo legal form usually follow condo-style coverage.

How to read HOA health

Focus on the association’s financials, not just the monthly number:

• Reserves. Review current balances and the most recent reserve study. Low reserves can lead to special assessments.
• Special assessments. Check the past 5 to 10 years for frequency and size.
• Budget. See what dues include. Look at management fees, utilities, insurance, and maintenance line items.
• Governance. Review bylaws for voting rights, meeting cadence, and any rental or owner-occupancy limits.

For older Edina buildings, many of which were built between the 1960s and 1990s, ask about capital projects and recent building system updates. Adequate reserve funding is essential as properties age.

Maintenance, privacy, and layout

Think about how you live day to day. The physical form of the home shapes privacy, noise, and how much work you need to do.

Condo lifestyle

Condos are often stacked in mid-rise or garden-style buildings with shared hallways and elevators. The association handles exterior care, which supports a true lock-and-leave lifestyle. Interior units may have limited outdoor space and shared walls above and below, so you may experience more noise. Many condos offer single-level living, which is a plus if you want to avoid stairs.

Townhome lifestyle

Townhomes are typically side-by-side units with private entries, often on multiple levels. You may enjoy more privacy since there usually is no unit above or below. Many townhomes offer small yards or patios and more natural light from multiple sides. Maintenance varies by community. Some owners handle their roofs and siding. Others benefit from full exterior coverage through the HOA.

Accessibility and comfort

• Condos often deliver single-level layouts with elevator access.
• Townhomes usually involve stairs between levels. Consider your mobility needs and plans for the next 5 to 10 years.
• Outdoor space is typically larger with townhomes, while condos may offer balconies.

Parking and Edina neighborhoods

Parking is critical for daily ease and for resale appeal. It also varies by age and style of building in Edina.

Parking basics in Edina

Older condo buildings often include structured garages or assigned surface spaces. Guest parking can be limited. Townhomes are more likely to have private garages and driveways, though this is not guaranteed. Near commercial corridors, on-street parking rules and permits can apply. If you plan to rely on street parking, confirm local regulations for the block.

Where each product shines in Edina

• 50th & France. Expect mid-rise condos and mixed-use buildings with walkable amenities and parking structures. This area suits buyers who value convenience and a lively commercial core.
• Southdale and West Edina. A mix of garden-style condos and some townhouse developments near major retail and transit corridors.
• Centennial Lakes and adjacent pockets. Newer infill townhomes and condo options inside planned, amenity-rich environments with paths and retail nearby.
• Country Club and higher-end zones. Select luxury condos and small townhome enclaves with limited inventory and higher price points.

Inventory shifts seasonally. In many cycles, townhomes attract steady demand from buyers who want a house-like layout with reduced upkeep. Your agent can pull current local data to compare options across neighborhoods.

Resale, financing, and insurance

Resale strength and ease of financing depend on more than the home’s finishes. Project health, parking, and owner mix matter.

Resale drivers to watch

• Association health. Solid reserves and a clean history on special assessments support value.
• Owner-occupancy and rental mix. High rental ratios can limit buyer pools and lender interest.
• Parking and storage. Assigned parking and usable storage help marketability.
• Floor plan and condition. Functional layouts and updated interiors attract broader demand.

Condos can be a great fit for downsizers and may offer strong value per square foot. In some markets, they appreciate more slowly than fee-simple homes. Local dynamics in Edina will influence outcomes, so reviewing recent neighborhood sales is helpful.

Financing differences

Lenders underwrite both you and the project for condos. FHA and VA loans have project eligibility rules. Many condo buildings are not FHA approved, which can narrow your financing choices. Conventional loans often require a review of association financials, owner-occupancy, reserves, and any litigation.

Fee-simple townhomes are often treated more like single-family homes for underwriting, which can make financing simpler. If you rely on a specific loan type, confirm project eligibility before you write an offer.

Insurance differences

Condo associations typically carry a master policy for common elements. As an owner, you purchase an HO-6 policy that covers your interior finishes, personal property, and loss assessment coverage.

Fee-simple townhome owners often carry an HO-3 homeowner policy covering both exterior and interior. If a master policy exists, confirm whether it is “bare walls” or “all-in” and what deductibles apply. Large deductibles can lead to special assessments after a loss, so clarity matters.

Decision framework for Edina buyers

Use your daily life and long-term plans to guide the choice. The best fit becomes obvious when you match the structure to your priorities.

Match your priorities

• Choose a condo if you want minimal exterior upkeep, single-level living, and building amenities. Look for strong reserves and responsive management.
• Choose a townhome if you want a house-like feel with private entry, more privacy, and outdoor space. Confirm whether it is fee-simple or condo form and who handles the exterior.
• If financing ease is critical, fee-simple townhomes often provide fewer hurdles. Condos require project-level review.
• If budget is tight, some condos offer lower entry prices and include utilities or amenities that reduce other monthly costs. Always compare total monthly cost, not just price.

Viewing checklist

Bring this short list to each showing:

• In and around the building. Note unit orientation, natural light, and noise sources. Check hallway, elevator, and garage condition.
• Parking. Confirm your assigned space, guest parking rules, and enforcement.
• Access and mobility. Consider elevator reliability and stair counts for daily living.
• Documents. Request the declaration, bylaws, rules, current budget, financials, reserve study, recent board minutes, insurance certificates, and any special assessment history.
• Project health. Ask about planned capital projects, reserve funding approach, and any pending litigation.
• Occupancy. Ask for owner-occupancy and rental ratios. This affects financing and resale.

Next steps in Edina

1. Define your top goals. Rank maintenance level, layout, parking, location, budget, and loan type.
2. Shortlist neighborhoods. For walkable condos, consider 50th & France. For mixed options near shopping, explore Southdale and nearby areas. For newer townhomes, look at Centennial Lakes and surrounding pockets.
3. Get prequalified. If considering condos, ask your lender to check project approval and underwriting requirements early.
4. Request documents up front. Have your agent or attorney review association materials before you finalize terms.
5. Inspect with intent. Add contingencies that address roofing, foundations, common mechanical systems, water management, and HVAC.
6. Visit at different times. Check street parking, activity levels, and noise on evenings and weekends.

When you weigh ownership structure, HOA health, daily comfort, and financing together, the right answer becomes clear. If you prefer low-touch living with amenities and elevator access, a condo near 50th & France may be perfect. If you want a private entry, garage, and a bit of outdoor space, a townhome around Centennial Lakes could fit your rhythm.

Ready to compare specific buildings and communities, line by line? Reach out to Juan Rivera for a curated short list and a clear plan from first tour to close.

FAQs

How do I confirm if a townhome is fee-simple or a condo?

• Review the recorded declaration, plat, and legal description. Hennepin County property records and the association documents will state the form and responsibilities.

What do HOA fees usually cover for Edina condos vs townhomes?

• Condos often include exterior, roof, common utilities, landscaping, snow removal, and master insurance. Townhome coverage varies. Some owners maintain roofs and siding. Always verify in the declaration and budget.

Can I use FHA or VA financing on an Edina condo?

• Possibly. The condo project must meet FHA or VA eligibility or pass lender review. Fee-simple townhomes are often easier to finance with these loan types.

Which has lower total cost, a condo or a townhome?

• It depends. Condos can have lower purchase prices but higher dues that include utilities or amenities. Compare total monthly cost and the association’s financial health.

What are red flags in HOA documents when buying in Edina?

• Very low reserves, frequent large special assessments, high rental ratios, pending litigation, and unclear maintenance responsibilities.