The US is short of more than 5 million homes resulting in a seller’s market where the available property is quickly being snapped up. Buying is now a competitive field where decisions must be made quickly or properties will go. But do you know what types of homes are on the market?
Before you begin your search for the best realtor available, it helps to know what type of property you want. Read on as we give our guide to the types of homes on the market.
Most of the developed world lives in apartment blocks. They are an easy path to homeownership as they have a lot of convenience factors. Many blocks have on-site managers and can have extra amenities like pools and gyms.
The downside is that they often offer less privacy than a home would. You also don’t have your own outside space, such as a garden or yard. Condos are a similar option if you are considering buying due to the added features on offer.
Single Family Homes
A single-family home is completely detached from other units. They are often most people’s dream houses, as they offer total autonomy, freedom, and privacy. Unless you are part of a homeowners association, you can customize the property as you wish subject to local legislation.
The major downside is that the maintenance and upkeep are solely on the owner. Management of all aspects of the property is down to them and they are financially responsible for it.
If you are searching for luxury homes near me, many of them will be single-family homes. This is because of the privacy and ability to have large land plots around them.
A semi-detached home looks similar to a single-family home but is joined to another house. It is different from a townhome as you don’t have a neighbor on both sides, allowing a yard or garden around the home.
Very often, each unit will have a floor plan that mirrors the other. The downside is that although you have autonomy, you may have to be considerate of the other dwellings when making plans. Adding building work or installing items that reduce the neighbor’s level of comfort will not be welcome.
Townhomes are attached on either side to another home, often being laid out in a row. The only ones that don’t have this are ones on the end, which only attach to one dwelling. Each unit will have its own entrance, rooms, bathroom, and kitchen spaces.
Many townhouses come as part of a homeowners association that will help with the management of the whole lot. Their only downside is that they often have little space around them, so the only yards are at the back of the property. The terms townhouse and townhomes are often used to describe the same type of dwelling.
Choosing Between the Types of Homes
Deciding upon the types of homes on the market depends on your needs. A family home will be different from the one you want for investment purposes. It may also depend on the type of area you want to reside in.
This article is one of many to help you find the right property. From financing to renovations, we can help your home look great in the coming year.