Shopping for a house is not an easy process. The first thought that comes into a persons mind when thinking about purchasing a home is what kind of living space they want or need. Keep in mind that no matter what type of house you buy, you’ll be making a sacrifice in one area or the other. There are advantages and disadvantages to each type of housing. Here is some useful information to help you decide what type is right for you.
So what, exactly is a single family home? This type of house means just like it sounds; a house for a single family. The home is a separate entity; it is not connected to any other houses. Nothing is shared with another person or family’s home. However, just about every homeowner is going to have to pay fees to the Homeowners Association. These fees differ depending on the value of the house and the value of the neighborhood, among many other factors.
Next, we have town homes. Many people think that these are the same as a house, the only difference being that there are homes attached to them. While this is true, town house owners usually have to pay community fees that go toward things such as recreation areas of the complex. Town homes have their own pros and cons as well. One main con is that the homes are connected to each other, and sometimes, the walls are not thin. On the other hand, the layout of them is very appealing.
So how are town homes different from condos? Condominums are a bunch of homes in the same building. You will also be paying fees to the board every month. These fees go toward keeping up the building; for example, if the elevator breaks, or if the front desk needs a new laptop. All of the fees go toward the building, so you are not only paying for your share. When deciding what type of house you want to buy, you need to ask yourself a few questions. You can’t base it on what you like; you also have to consider what you need.
Space is generally the first thing you should think about when trying to decide. Do you have a family? 10 dogs and 2 cats? A baby on the way? If this is the case, you generally should opt for a single family home. If you are newlyweds and only plan to have it be a starter home, maybe consider a nice townhouse, for example.
When potential homebuyers view a house, generally they look at the rooms and envision what changes they will make to the home. If you live in a condominium of townhouse, you can’t just go about knocking out walls like you would be able to with a single family home. For example, in a condominium, there are restrictions on construction projects. If you love interior design, and love to make changes to your space, this is something you’ll need to strongly factor in when making a decision on the housing type.