Your Home Options: Types of Houses to Consider When You Decide to Buy

In this article

1. What Types of Home Options are out There?
2. Single-Family Style Homes
3. Multifamily Style Homes

What Types of Home Options are out There?

We will help you to compare the different types of homes available to you, and the types of communities they are usually found in, along with their advantages and disadvantages. Although there are many different types and style of home, the biggest difference will generally be the single-family, vs multi-family styles of home. And then the communities in which these types of homes are found. It’s really up to you to decide which will fit your lifestyle the best.

Single-Family Style Homes

A single family home is exactly what it sounds like; a house that is intended for one family to occupy. A single building with a front door. Although there numerous styles and sizes of a single family home, your main options in choosing one will be from one that already exisists or one that has just been built and is brand new.

Choosing a new home from developer that might not be move in ready yet can be stressful, since sometimes it’s hard to visualize without walking through the finished space for yourself. Developers have made this easier by providing model homes so you can get a feel for the space. Existing homes on the other hand allow you to walk through a finished product that has been lived in so you know exactly what to expect from from the exterior to interior.

New Homes

• You may not know what you’re final home will look like
• The new construction can take time and in some cases may delay occupancy
• The neighborhood might be to new and not have all the amenities established
• Newer electrical, plumbing and other utilities can potentially reduce the operating costs of the home

Existing Homes

• You know what you’re getting yourself into with the home
• It’s move in ready
• The neighborhood is already established
• Additional renovations may be required
• Older plumbing, electrical and windows may require future upgrading

Single family homes generally require a lot more work than townhouses or condos would normally because you are dealing with landscaping and a variety of activities to keep up with home maintenance and seasonal changes.

Advantages of Single-Family Homes

• The ability to adjust your living space through renovations
• Open space
• Generally more quiet and peaceful
• Personal environment for raising kids
• Being outdoors
• Gardening and backyard activities

Disadvantages of Single-Family Homes

• For many owning a house requires further distances from the city
• Daily commutes can add the expense of more transportation and an additional car
• Ongoing maintenance and upkeep
• Gardening and lawn care might not be for you

Multifamily Style Homes

Semi-Detached House
This usually means to two homes attached to one another with a firewall separating them from each other and fencing dividing the yards, If the neighbors lifestyle is not the same as yours you may have issues later on.

Townhouses
This can be a row of houses interconnected with firewalls with shared yards or common areas. The main benefit here is you can have full ownership and can renovate the interior as you see fit. This can be a good fit for urban professional or young families

Linked Houses
These type of row homes or semi detached dwellings can have a common garage underground and look like detached homes above ground. There could be some savings on the cost of these types of homes depending on the neighborhood they are found in.

Condos
Condominiums are a great investment if you do not like dealing with ongoing maintenance and want more security and amenities like a gym or pool within a condo complex.

Advantages

• More affordable way to enter the housing market
• No Maintenance
• Security
• Easy accessibility
• Usually convenient access to schools, trains and public transit
• Close to shopping
• May not require a car

Disadvantages

• Pets may not be allowed
• Monthly condo fees for maintenance
• Coop meetings in some buildings
• You may have to share the expense of major upgrades to the building
• Renting the condo in the future could be a problem
• Parking maybe an issue
• Noisy neighbors

So there you have it, a number of common home and community options to choose from.  The best advice here is get a real estate agent involved early in your home hunting so that he can help you find the right home for your unique needs in a community you will love.