Trying to decide between a condo and a townhome in Durango? You are not alone. Both options offer in-town convenience and lower maintenance, but the way you own, insure, and budget for each can be very different. In this guide, you will learn the key differences in ownership, maintenance, fees, financing, and due diligence so you can choose the best fit for your lifestyle and budget. Let’s dive in.
Condo basics in Colorado
A condominium is a legal form of ownership. You typically own the interior of your unit plus a shared interest in common elements like the roof, exterior, land, and amenities. Colorado communities are governed by declarations and an association under the Colorado Common Interest Ownership Act. You can review the statute on the Colorado Revised Statutes website.
In practice, the HOA usually oversees exterior maintenance and common areas. You insure the interior with an HO-6 policy. Exact unit boundaries and responsibilities are defined in the recorded declaration and condominium map, so you should verify those documents before you buy.
Townhome basics in Colorado
Townhomes in Colorado can be set up two ways:
- As a condo regime. The HOA owns or maintains the exterior and common elements much like a traditional condo.
- As fee simple or a planned community. You own the land and the structure, and the HOA manages shared features like private roads or landscaping. Exterior and roof duties may be yours or the HOA’s depending on the governing documents.
Because of this, many townhomes feel more like single-family ownership. You might have a small yard, a garage, or more control over exterior decisions. Always confirm the legal form and maintenance responsibilities in the recorded documents.
Who maintains what
Responsibilities vary by community, but these patterns are common. Always confirm in the declaration, bylaws, and insurance certificates.
Condos: typical responsibilities
- HOA often covers: building exterior, roof, siding, parking lots, landscaping, snow removal, exterior insurance, trash service, and common systems. Some buildings include water, sewer, or other utilities.
- Owners often cover: interior finishes, appliances, HVAC in the unit, interior plumbing fixtures, and an HO-6 policy for interior and loss assessment, depending on the master policy.
Townhomes: typical responsibilities
- Fee-simple townhomes often require owners to maintain the roof, exterior, and any yard or driveway areas. The HOA typically handles common areas and sometimes limited exterior tasks.
- Townhomes in a condo regime often mirror condo responsibilities, with the HOA maintaining exteriors.
Insurance details that matter
Master policies vary. “All-in,” “walls-in,” or “bare-walls” coverage changes what you must insure. You should review the HOA’s certificate for coverage limits, deductibles, and whether owners need loss assessment coverage. For best practices on reserve funding and major project planning, see Community Associations Institute guidance.
HOA dues vs. metro-district taxes
In In-Town Durango, your monthly costs can include two different items:
- HOA dues. Paid monthly or quarterly to the association for maintenance, insurance, management, snow removal, landscaping, and amenities. Buildings with elevators, underground parking, or extensive services tend to have higher dues.
- Metro-district or special-district taxes. These are separate from HOA dues and appear on your La Plata County property tax bill. Newer neighborhoods sometimes use metro districts to fund infrastructure, which can add a notable annual cost.
In short, two similar homes can have very different total carrying costs once you add dues and district taxes. Ask for the property tax statement and the full HOA budget so you can compare apples to apples.
Durango due diligence checklist
Before you buy, gather the right documents and review them carefully. Colorado gives buyers specific rights and timelines for HOA disclosures. You can learn more from the Colorado Division of Real Estate’s HOA Information and Resource Center.
Documents to request:
- Recorded declaration, bylaws, and map or plat showing unit boundaries
- Current budget, most recent financials, and reserve study or plan
- HOA meeting minutes from the last 12 to 24 months
- Master insurance certificate with deductibles and coverage detail
- Rules on rentals, pets, parking, and use restrictions
- Any pending or recent special assessments and payment terms
- Management agreement and key service contracts
- Any litigation or compliance actions involving the HOA
- Property tax bill and any special district or mill levy details
- Home inspection report and seller disclosures
Red flags to watch:
- Low reserves combined with aging roofs, siding, paving, or major systems
- Litigation or ongoing disputes with vendors or residents
- Very high master policy deductible that could trigger owner loss assessments
- Restrictive rental policies if you plan any rental use
- Unclear boundaries for roofs, decks, windows, or fences in the declaration
Financing and resale insights
Financing can differ between condos and townhomes. Lenders and government-backed loans may have special requirements for condos. If you need these loan types, ask early about project approvals.
- Conventional lending may apply specific condo project standards. See Fannie Mae project standards.
- FHA financing may require project approval. You can look up condo approvals using the HUD condo search tool.
- Many fee-simple townhomes are treated more like single-family homes, which can make financing simpler.
For resale, in-town Durango buyers value walkability, outdoor access, and low-maintenance living. Some communities restrict short-term rentals, and city rules can change. Always confirm current municipal rules before assuming rental potential.
Lifestyle fit in In-Town Durango
Both condos and townhomes deliver a convenient in-town lifestyle, yet they offer different experiences.
- Choose a condo if you want minimal exterior maintenance, the predictability of HOA-managed upkeep, and possibly shared amenities.
- Choose a townhome if you want more control over your exterior and roof, a bit of private outdoor space, or a garage, while still having HOA support for common areas.
Properties close to Downtown or the river often justify higher dues for added services like snow and ice management and common area care. Compare what is included at each community to your daily routine and budget.
Next steps for Durango buyers
- Before touring: Ask whether the property is a condo regime or fee-simple townhome, confirm current HOA dues, and request the latest budget. Ask if the property is in a metro or special district and request the property tax statement.
- Under contract: Review CC&Rs, bylaws, budget, reserve study, minutes, insurance certificate, and tax bill. Compare total carrying costs to similar in-town options. If financing a condo, coordinate with your lender on the condo questionnaire and any project approvals.
- After closing: Set up the right insurance based on the master policy. Attend HOA meetings to stay ahead of maintenance plans and reserve funding.
If you want a clear, side-by-side view of your best options in In-Town Durango, reach out. As a local, owner-operated brokerage, I will help you weigh total costs, review documents, and negotiate the right terms for your goals. Start a clean, confident search with Jeremy Deas.
FAQs
What is CCIOA and why does it matter?
- The Colorado Common Interest Ownership Act sets rules for condos, planned communities, and HOAs statewide, which affect budgets, reserves, disclosures, and owner rights.
How do HOA dues differ from metro-district taxes?
- HOA dues go to the association for maintenance and services, while metro-district taxes appear on your county tax bill to repay infrastructure costs and are separate from HOA dues.
Are townhomes easier to finance than condos?
- Often yes, if the townhome is fee simple, since lenders treat many like single-family homes; condos may require project approvals that can limit loan options.
What insurance do I need for a condo?
- Most condo buyers need an HO-6 policy for interiors and personal property, aligned to the master policy’s coverage and deductibles; confirm what the HOA’s policy includes.
What documents should I review before buying in an HOA?
- Review the declaration, bylaws, map, budget, financials, reserve study, minutes, insurance certificate, rules, any assessments, litigation history, and the current property tax statement.
