Now that you have decided where you want to live and purchase a new home, what’s next? Before you spend lots of time checking out properties, perhaps it would be more helpful if you first decide what kind of home you want in particular. Your three options are mainly detached homes or houses, townhouses, and condominiums. Each one of these types of homes has its own pros and cons, each one comes with different responsibilities, and each one matches a specific lifestyle.
How about a House?
It is true that an actual detached house could possibly be the most expensive option you have, both in terms of price and maintenance cost. However, it also grants you both privacy and independence that are quite difficult to achieve with other types of homes. First of all, there would be no shared floors, walls, or ceilings. You may even have your own fenced yard which is excellent of you have children and pets or if you are fond of having barbeques or parties. They are usually more spacious than condos as well. Another good thing is the idea that because it is all yours, you can do whatever you want with it. You are not restricted to renovations inside your space. You can have additions anytime you want, too.
Thinking About a Townhouse?
A townhouse is like a cross between a house and a condo. Because townhouses often have two storeys, you may not have to deal with upstairs and downstairs neighbors. That right there could mean a little more privacy. It’s even better if you get a corner or end unit which will let you share walls with just one neighbour. They usually come with attached garages, so they can be convenient, too.
Similar to condominiums, there are also homeowners’ associations for townhouses, so there would be monthly fees to take care of. However, what that also entails is that you need not worry about the maintenance of your exterior. As for the pricing, they are somewhat similarly prized as same-sized condos.
Considering a Condo?
Condominiums or condos as most people prefer to call them are more affordable compared to a house. They are often preferred by younger buyers, bachelors, and yes, the millennials. What makes it the right choice for people who live alone is the sense of security this type of housing brings. Another main advantage is that you will never have to worry about having to maintain a yard of your own or needing to repaint the exterior walls every few years.
Whichever type of house you prefer, you will also have to consider the size. Does your family need more than one bedroom and bath? Are you thinking of turning the home into an investment property in the near future? And of course, are you prepared to pay for a bigger property?
Once you have a decision as to what type of home meets your needs, don’t hesitate to call us. We’d be happy to help find your dream home for you!