Article Details

How To Choose Your Ideal Home Type

Date Added: July 05, 2009 11:26:12 AM
Author: Michelle
Category: Business: Real Estate
There are 3 major house types most favoured by purchasers today - single family homes, town homes and condominiums. The term 'house' is clear to everyone, while some buyers as well as real estate agents still have a ill-defined idea of the terms 'townhouse' & 'condo'. It is necessary to differentiate the terms when looking for a suitable property.

'A house', or 'a single family home', is a detached structure suitable for a typical family to live in. Both the house & the land are in the owner's possession. There are no walls to be shared with neighbors and, so, one may enjoy his or her privacy to the full. As 'a house' is in the owner's absolute possession, any renovation outside a house can be done.However, owning 'a house' may be extremely high-priced in comparison with townhouses or condominiums. Moreover, the owner is also expected to take an appropriate care of the exterior and pay all the maintenance work by himself/herself. Normally the expenditure is shared between members within a town home or condominium community. The community's funds are made up of charges inflicted on all condominium owners.

When purchasing a condominium, one should always keep in mind that only inside of the unit is owned, while the outside is in the common possession. In other words, everything that is inside the condo is the owner's property and everything including green lawns, yards, hallways, parking exterior of the condominium is owned by a condo community.Condos are normally obtained by people who cannot afford high-priced single family houses and maintenance costs. However, owning a condominium may have several minuses.

First and foremost, you have no privacy, as neighbours are all around you. Secondly, you have no private garden or a lawn where you can plant your favourite flowers. Anyway, when purchasing a condo, find the one which has fewer shared walls. It will cost more, in case you would like to sell it. Charges should also be taken into account prior to acquiring a condominium, as in some places they are little by little growing. Fees may rage from 100 to 500 dollars per month, thus it will largely raise the cost of your house.

Town homes have basic features of both single family houses and condominiums. So, when possessing a townhouse you will have to share walls with your neighbours, but only on either side of you. There will be no neighbors above or beneath your unit. Lucky are those buyers who own an end unit, as they share only 1 wall and, therefore, can sell their property easily and at a higher price.In comparison with condos, there is normally a nice yard nearby a town home which is as large as that nearby a house, but is not that expensive. Thus, townhouses may be a suitable alternative for those people who are searching for private space of a single family house and reasonable prices of a condominium.

Being able to distinguish between house types is assumed to be a key to selecting a proper home to live in that will comply with all demands of the owner.
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