All About Townhouses!

How do these work, is there a strata type of arrangement etc, how do banks view them? What are your views on investing in Townhouses and are there any things I need to know like acceptable floor area size or any special fees/ costs with buying?
Just like any other type of property, a townhouse has it's pros and cons.
Typically, they have a backyard, so are simmilar to a terrance, however the land is typically strata - so you own the air space rather than the land. You have rights to the land, and that is what gives you your value.
The banks are usually fine with them, and will generally treat them as well as a house.
Regarding what size is acceptable, that's much too open ended a question. If you're buying in the city, a small townhouse with small yard can have a lot of value, however in the further out suburbs, it may not be desireable. They are generally cheaper than terrances or stand along houses.
It costs no more to buy one - however you have the additional cost of Body Corporate costs on an ongoing basis.
ok thanks a lot for answering all my questions.

What about duplexes and Terraces, can you also please explain how these work and if there is Strata etc with them.
Google is your friend :)

Not really, I actually don't like Google at all (that is a totally different subject) but yes I have used Google to search for this and very little came up on explaining about the differences with Townhouses, Units, houses, Terraces and duplexes.