FAQ
Frequently Asked Questions
Q: What is the diffenence between a Condo & a Town Home?
A: A condominium, condo for short, is a single unit that is usually attached to other units within a larger complex. Condo owners only own the inside of an individual unit. Collectively, all unit owners within a development own all the structures and land outside of the individual units. Condos usually share common walls with the units above, below, and to either side, and all owners share the costs of maintaining the structures and land external to the units.
The term townhome in Oak Heritage is used to describe a consecutive series of similar residential units that share common walls with the adjacent units. The property units have up to two levels and sit on individual lots as well as front yards and courtyards. These types of properties are sold as Fee Simple.
In Oak Heritage the townhomes owner not only owns the home’s interior and exterior, but they also own the land beneath, in front and back of the property, as well as having some rights to the air space above the property. In Oak Heritage you own your lot as shown on the recorded final plat; basically the same as any single-family neighborhood.
In contrast, people who own property as a Condominium, only own the inside of the unit itself. The land below the property, the air space above the property, the front and back yards (if any), the exterior of the unit, the stairs and grass areas outside of the unit (if any), are all owned collectively by all the unit owners within the condominium development.
In addition, since so many people covet single family home ownership, resale prices are typically higher than those of condos. If one likes privacy and is tired of the common wall experience of apartment living, a single family home can be the answer.
Q: Are town homes easier to finance than condominiums?
A: Yes. A townhouse is still considered a single family home—even though they shared a common wall. Financing a town home is no different than financing a conventional single family home.
There are a lot more issues with condos. If more than half of the owners don’t live there—and are using it just as an investment they rent out—it will be harder to get certain loans.
A: We are working with several mortgage companies and banks to provide financing. Contact us to get pre-approved and for additional information. Use Champlin Title, Inc. and one of our approved lenders.
A: Currently Oak Heritage is located in the Dutchtown School District.
* Contact the Ascension School Board Office to verify:
Ascension School Board Office: (225) 473-7981 | (225) 621-2300
A: Oak Heritage Town Homes is just minutes away from Baton Rouge, located conviently along Hwy. 73 (Old Jefferson Hwy.) between I-10 and Airline. See Site Map for detailed directions.
A: Oak Heritage Town Homes qualifies for 'Rural Development' financing and 100% financing is available to qualified buyers.
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