Twenty-five percent of first-time buyers agreed that the hardest part of buying a home is finding the right one.
If you’re also looking to buy your own place right now, you’ll know how difficult it can be to choose between all the different types of homes out there. Or, it might be that you have an idea in your head but don’t have the terminology to describe what you’re looking for.
Luckily, we’re here to help make things clearer! Here are some of the most popular home types to help you find your future beloved home.
Single-family homes (SFH) are freestanding residential buildings. As well as being detached from neighboring properties, SFHs often include a driveway and yard for plenty of curb appeal.
As any smart homeowner knows, single-family homes are desirable for both investors and buyers, making them one of the best homes to sell fast. You can find out more info here about how to do this.
Also called townhomes or rowhouses, townhouses are individual properties that share one or two connecting walls with their immediate neighbors. Depending on their design, some may also share an entryway or front yard.
Townhouses tend to be more common in big cities such as New York City, Chicago, and Boston. This is because space limitations make it difficult to find as many SFHs as you’d see farther out in the suburbs or in smaller cities.
Condominiums, or condos for short, are privately-owned units in a multi-tenant building. Often, condominium structures include communal areas with shared ownership for the private use of residents. These areas may include facilities such as private parking, a gym, a swimming pool, and other entertainment facilities.
This kind of home describes an apartment unit in a building of between one and four floors. Although homeownership often extends to apartments in other countries, most US apartments are rental properties.
If you’re looking to invest in a property to rent, apartments in low-rise buildings tend to be more popular with tenants. This is because they offer many of the benefits of apartment living but with fewer neighbors, more privacy, and less noise than you’ll often find when living in a larger apartment block.
High-rise apartments are single units in buildings with more than four floors. Building up high like this saves prime real estate space. Because of this, high-rise apartments are often closer to city centers than the other kinds of homes on this list.
Although this can be a drawback for some people, others may love how convenient it is for traveling to work, and for cultural and entertainment pursuits. And, while apartment living can mean less privacy and space, many high-rise apartment blocks offer access to amenities such as private parking.
Different Types of Homes
Choosing the right home for your lifestyle and goals can be difficult if you’re not sure what’s out there.
But, with this list of different types of homes to guide you, it should now be a lot easier to articulate the kind of property you want.
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