A townhouse, otherwise known as a townhome, is a housing unit that shares at least one wall with another unit. They're often at least two stories high and sit side-by-side.
A townhouse is independently owned and includes ownership of not just the unit's interior, but also the exterior, meaning the yard, driveway, roof and whatever else comes with it.
Townhouses are common for first-time homebuyers because they're more affordable than a normal house. They also offer amenities similar to those of a condo or apartment complex, like a clubhouse, pool and fitness center. There's also less to maintain as many townhomes have on-site or contracted maintenance professionals, such as repairmen and landscaping teams.
However, most townhouses are part of a homeowner's association (HOA), which adds an additional, non-optional monthly fee. And while HOA fees cover amenities and maintenance costs, they can be expensive and have strict regulations by which you must live. Townhouses also aren't quite as spacious as regular homes and don't offer the same amount of privacy.
Townhouses aren't for everyone, so make sure you're OK with sharing a wall with your neighbors and living by HOA rules. To some, the amenities and maintenance might be worth it, but for others, it may not be.