When you enter into the home buying process, it can sometimes be a bit tempting to jump right into picking a home, but before doing this, it is important to know exactly what type of home you are looking for. There are a few different types that you should learn about so that you can make a better decision when it comes to finding the home that is right for you.
A condo is a bit different from most types of homes. Unlike a single-family home, owning a condo means that you will have two options when it comes to ownership. Either you will own everything that is within your specific condo, including furnishings, or you will simply own the air and that is it. When you choose to buy a condo, you do not actually have any rights to the building itself, or to the land that it is on.
There are some spaces that you will have rights to, but these areas are usually shared with other condo owners. This would include areas such as parking garages and elevators. On the positive side, the maintenance part of a owning a condo is much easier. It is actually the responsibility of the condominium association (homeowner’s association) to take care of any maintenance problems that come up.
However, there is the fact that, while having an association pay for maintenance work is great, you will have to keep in mind that you will still have to pay a fee for having such a convenience.
Not many are aware of this type of housing and even confused by the term itself. The best way to think of a patio home is to think of a combination of a condo and a single-family home in which you would still have a home sitting on a piece of land. The difference is that you will either have two options when it comes to the yard. The backyard will either not be present at all and only have an area for a patio or there will be no backyard at all, with a small front yard area.
Also, patio homes do not have a yard going down both sides of the home. There is only a small area of yard that goes down one side and connects to the back yard. Another difference in this type of home is that you will actually own the land that the home sits on.
This is the most common type of home that many individuals already understand. The main point of a single-family home is that most will have a home that sits on land that you would own. Some homes will come with a garage and some may not. Also, there is a front yard, back yard, and more often than not, there are side yards as well.
This type of home also sits alone with no attachment to any other home. Homes can be spaced out quite a bit, depending on the community.
A townhome is a little bit different from other types. Essentially, it looks exactly like a single-family home, but may be connect to other homes of the same style. These homes can be connected on either one or two sides, which means that there are walls that are shared between neighbors.
Just like with a single-family home, you can own the home and the land that it sits on as well. Keep in mind that there are some townhomes that are treated in the same way as a condo would be. Basically, there are some townhomes that will run on a homeowners association and you will have to pay fees.
By knowing which type of home you want, you can make the home search process very easy. You will not have to waste your valuable time on homes that are not the type that you are looking for. It makes everything easier on you and your real estate agent, who is helping with your home search.