Freehold vs Condo Townhomes: What You Actually Own

Three townhome ownership formats exist in Ontario: freehold, common-elements condominium (POTL) and standard condominium. They look nearly identical from the street but differ sharply in monthly cost, control and long-term resale. Every townhome at Green Valley Estates is freehold with no monthly fees.

Freehold. You own the land beneath the home and the structure on it, right to the property line. There is no corporation, no monthly fee, no reserve fund and no status certificate at resale. You are responsible for your own roof, driveway and landscaping. For buyers who want the lowest fixed monthly carrying cost and maximum control, freehold is the strongest format — and it is the format used throughout Green Valley Estates.

Common-elements condominium (POTL). A parcel of tied land, or POTL, is a freehold home whose owner also holds an interest in shared elements such as a private road, visitor parking or a park. You own your home and lot, but pay a monthly fee — often $100 to $250 — to maintain the shared portions. Resale requires a status certificate, and buyers should read the reserve fund study before committing.

Standard condominium townhome. Here the corporation owns the land and the exterior; you own the interior of your unit. Monthly fees are the highest of the three formats because they cover building insurance, exterior maintenance, snow removal and the reserve fund. The trade-off is convenience — nothing outside your door is your problem. Fees rise over time and are outside your control.

Freehold vs Condo Townhomes in Ontario | Ownership Compared

Green Valley Estates is built by Bayview Wellington Homes on the west side of Simcoe Road at Jonkman Boulevard in Bradford West Gwillimbury, Ontario. Phase 4 is now selling, with freehold townhomes and detached singles from the low $700s.