Trying to decide between a condo or a townhouse in Old Greenwich? You are not alone. With a walkable village core, a Metro‑North station, and homes that range from compact flats to multi‑level townhomes, the choices can feel nuanced. This guide breaks down what you actually own, how fees and maintenance work, what to consider about walkability and flood risk, and how to match each option to your lifestyle. Let’s dive in.
Old Greenwich at a glance
Old Greenwich sits along Long Island Sound with a compact main street on Sound Beach Avenue and its own Metro‑North station nearby. Many condo and townhouse communities cluster around this village core, putting shops and train access within easy reach for select addresses. Walk times vary by block and building, so always confirm the exact location. Living close to the station increases convenience, but it can also raise everyday noise from trains and commercial activity.
Condo vs. townhouse: what you own
Condos in brief
- You typically own the interior of your unit and a percentage of common elements.
- The association maintains exteriors, roofs, grounds, and common areas, and it carries insurance for common elements.
- You pay monthly fees that fund operations, reserves, and shared services. Rules can cover pets, rentals, and renovations.
Townhouses in brief
- A townhouse in Connecticut can be fee simple or condo form. Fee simple means you own the structure and the land lot. Condo‑form townhomes function like condos with shared common elements.
- Fee‑simple owners often handle exterior maintenance, roofs, and yard work unless the HOA documents say otherwise.
- Some townhouse communities have limited shared amenities and lower fees, but scope varies by community.
Documents to read before you buy
No matter the label, review the legal structure and health of the association. Ask for the declaration, bylaws, budget, reserve study, rules, meeting minutes, insurance summaries, and any litigation disclosures. These documents clarify responsibilities, coverage, fees, and any special assessments under discussion.
Maintenance and time commitment
If you want very low maintenance and lock‑and‑leave convenience, a condo often fits best because the association handles exterior work and common services. Frequent travelers and downsizers tend to value this setup. If you want a private entry, more control over the exterior, and possibly a small yard, a fee‑simple townhouse can be a better match. In that case, plan for vendor management or DIY upkeep as needed.
Fees, insurance, and flood risk
HOA fees and reserves
Condo fees typically cover exterior maintenance, building insurance for common elements, landscaping, snow removal, trash, some utilities for common areas, and reserves. Townhouse fees, where they exist, may cover roads, shared spaces, or limited amenities, not the individual structure. Ask about current fees, recent increases, reserve levels, and any planned special assessments so you can compare the true monthly cost of ownership.
Insurance basics
Condo owners usually carry HO‑6 policies for interior finishes, personal property, and liability while the association insures the exterior and common areas. Fee‑simple townhouse owners typically carry homeowners insurance that covers both the structure and contents. Always verify what the association’s master policy includes and where your policy begins.
Flood zones near the Sound
Old Greenwich’s coastal setting means some properties fall within FEMA flood zones. If the home is near the water, confirm flood zone status and request insurance quotes early. Flood coverage can be a meaningful part of your monthly budget and a key factor in your decision.
Space, privacy, and parking
Condos often share walls, floors, or ceilings and use shared entryways. Townhouses usually have private entrances, multiple levels, and sometimes a small yard or patio, which can add a sense of privacy. Soundproofing and building quality vary widely, so visit at busy times to get a real feel for noise. Parking setups range from assigned garage or surface spaces in condo buildings to private garages or driveways in townhouse communities. Ask about guest parking and any town rules that affect overnight parking.
Walkability to Sound Beach Avenue and the station
Typical patterns
Properties in the village core can be a short walk to shops and the Old Greenwich station. Addresses farther inland may require a longer walk or a quick drive. If walkability is a priority, focus your search within a few blocks of Sound Beach Avenue and confirm the exact route.
How to test the walk
- Do a real‑time walk from the property to the station and key shops at your normal pace.
- Try it during morning and evening commute hours to gauge crowds, crossings, and timing with a bag or stroller.
- Note sidewalks, lighting, and major street crossings, especially near the train.
Financing and resale
Loan considerations
Lenders review condos differently than fee‑simple homes. Some condo projects must meet specific criteria for conventional or government‑backed loans, including owner‑occupancy ratios, reserves, and litigation status. Fee‑simple townhouses often underwrite more like single‑family homes. Get pre‑qualified and share association documents with your lender early to avoid delays.
Resale dynamics
Proximity to the train and the village tends to support demand and resale value for both condos and townhouses. Condos often appeal to commuters, singles, and downsizers who want amenities and low maintenance. Townhouses can attract buyers seeking more space and a private entry without the upkeep of a large single‑family home. Renovation freedom is usually greater with fee‑simple townhouses, while condos require association approvals for many changes.
A simple decision guide
- Choose a condo if you want low maintenance, possible building amenities, and lock‑and‑leave convenience.
- Choose a townhouse if you want a private entry, a multi‑level layout, and more control over exterior elements.
- If walkability is essential, target the village core and verify the address‑specific walk to Sound Beach Avenue and the station.
- If financing flexibility matters, ask your lender whether a fee‑simple townhouse simplifies underwriting for your loan type.
- If you are concerned about coastal exposure, prioritize flood‑risk review and insurance quotes for any property near the Sound.
Due‑diligence checklist
- Confirm legal type: condo or fee‑simple townhouse. Get the declaration and bylaws.
- Request HOA budget, reserve study, rules, meeting minutes, insurance summaries, and any litigation disclosures.
- Verify current monthly fees, recent increases, and any planned special assessments. Clarify what fees cover.
- Ask about parking arrangements, visitor parking, and any local parking rules.
- Check flood zone status and obtain flood insurance quotes if applicable.
- Perform a walk test to Sound Beach Avenue and the Old Greenwich station at multiple times of day.
- Do a noise test during peak train operations and weekend evenings.
- Obtain financing pre‑approval and confirm any condo project requirements with your lender.
- If schools matter for your plans, verify school assignments and any relevant zoning details with the town.
- Review rental rules, owner‑occupancy percentages, and any short‑term rental restrictions.
- Ask about any planned town projects that could affect traffic patterns, parking, or flood mitigation.
Finding the right fit in Old Greenwich comes down to how you want to live each day. If you value services and minimal upkeep, a condo can simplify your routine. If you want a front door of your own and a bit more elbow room, a townhouse may be the better match. When you are ready to compare specific addresses by walkability, flood risk, fees, and financing, reach out for a quiet, one‑on‑one review of options that align with your goals.
For tailored guidance and a private shortlist that fits your lifestyle, contact New England Land.
FAQs
What is the key difference between a condo and a townhouse in Old Greenwich?
- Condos typically involve owning the unit interior with shared common elements, while townhouses can be fee simple or condo form, which affects who handles exterior maintenance and how financing works.
How close can I live to the Old Greenwich station without driving?
- Many village‑core addresses are a short walk to the station and shops, while homes farther inland can be a longer walk or a quick drive, so verify the exact block‑by‑block route.
Do I need flood insurance for homes near Long Island Sound?
- If a property is in a FEMA flood zone, flood insurance may be required and can be a meaningful cost, so check maps for the address and get quotes early.
Are HOA fees usually higher for condos or townhouses in Old Greenwich?
- It depends on coverage and amenities; condo fees often include exterior maintenance and reserves, while townhouse fees may be more limited, so compare budgets and scope.
Is a condo harder to finance than a fee‑simple townhouse?
- Sometimes; lenders often apply project criteria to condos, while fee‑simple townhouses can underwrite like single‑family homes, so involve your lender early and share HOA documents.
