| There are three most popular home types most loved by buyers nowadays - single family houses, town homes and condos. The term 'house' is clear to everyone, while some customers as well as real estate agents still have a vague idea of the terms 'townhouse' and 'condominium'. It is crucial to distinguish between the terms when seeking an ideal property.
'A house', or 'a single family house', is a detached unit suitable for a typical family to live in. Both the house and the land are in the owner's possession. There are no walls to be shared with neighbors and, hence, 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.
However, owning 'a house' may be really high-priced in comparison with town homes or condominiums. Furthermore, the owner is also supposed to take an appropriate care of the outside and pay all the maintenance work by himself/herself. Commonly the expenses are shared between owners within a townhouse or condo community. The community's budget is made up of fees applicable to all condo owners.
When purchasing a condominium, one should always keep in mind only interior of the unit is owned, while the outside is in the communal possession. To put it differently, everything that is inside the condominium is the owner's property and everything including green lawns, yards, corridors, parking lots outside the condo is owned by a condominium community.
Condos are generally obtained by someone who cannot afford expensive single family homes & maintenance expenses. Still, possessing a condo may have several cons. Firstly, you have no privacy, as neighbours are all around you. Secondly, you have no private garden or a lawn where you can grow your favorite flowers. Anyway, when buying a condo, search for the one which has fewer common walls. It will cost more, in case you would like to sell it. Charges should also be taken into consideration prior to obtaining a condominium, as in some areas they are gradually increasing. Charges may rage from one to five hundred dollars per month, therefore it will largely increase the cost of your house.
Townhouses have features of both single family houses and condos. That is why, when possessing a town home you will have to share walls with your neighbours, but only on either side of you. There will be no neighbours above or underneath your unit. Lucky are those who own an end unit, since they share only one wall &, therefore, can sell their property easily & at a higher price.
Compared with condos, there is normally a nice yard nearby a town home which is as big as that nearby a house, but is not that expensive. That is why, townhouses may be an appropriate option for those who are searching for private space of a single family house & reasonable prices of a condo.
Being able to differentiate house types is assumed to be a key to selecting a suitable home to live in that will comply with all requirements of the owner. |
