| There are 3 major home types preferred by buyers today - single family homes, townhouses & condominiums. The word 'house' is clear to everybody, while some buyers as well as real estate agents still have a ill-defined idea of the terms 'townhouse' & 'condominium'. It is necessary to distinguish between the terms when searching for an ideal property.
'A house', or 'a single family home', is a detached unit suitable for a typical family to live in. Both the house & the lot 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 fullest. As 'a house' is in the owner's absolute possession, any redecoration exterior of a house can be done.
Yet, owning 'a house' may be quite expensive in comparison with town homes or condos. Moreover, the owner is also assumed to take a proper care of the exterior and pay all the maintenance work by himself/herself. Normally the expenses are shared between owners within a townhouse or condo community. The common budget is made up of charges mandatory for all condo owners.
When buying a condominium, one should always keep in mind that only inside of the unit is owned, while the exterior is in the community's possession. To put it differently, everything that is interior the condo is the owner's property and everything inclusive of green lawns, yards, corridors, parking outside the condo is owned by a condo community.
Condominiums are usually purchased by people who cannot afford expensive single family homes & maintenance expenses. Yet, owning a condo may have several disadvantages. First and foremost, you have no privacy, as neighbors are all around you. Secondly, you have no private garden or a lawn where you can plant your favorite flowers. Anyway, when buying a condominium, seek the one which has fewer common walls. It will cost more, in case you would like to put it up for sale. Fees should also be taken into account before purchasing a condo, as in some areas they are little by little increasing. Fees may vary from 100 to 500 dollars per month, thus it will largely increase the cost of your home.
Town homes have characteristcs of both single family homes and condos. Thus, when owning a townhouse you will have to share walls with your neighbors, but only on either side of you. There will be no neighbours above or beneath your unit. Lucky are those who own an end unit, as they share only 1 wall &, thus, can sell their property easily & at a higher price.
Compared with condos, there is normally a yard nearby a town home which is as big as that attached to a house, but is not that expensive. Thus, town homes may be an ideal choice for those people who are in search of private space of a single family house and quite reasonable prices of a condo.
Being able to distinguish between house types is regarded to be a neccessary key to choosing an appropriate home to live in that will satisfy all requirements of the owner. |
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