| There are 3 popular home types favoured by purchasers now - single family houses, townhouses and condos. The term 'house' is clear to everyone, while some clients as well as estate agents still have a unclear idea of the terms 'town home' and 'condo'. It is essential to distinguish between the terms when seeking a suitable property.
'A house', or 'a single family house', is a detached unit suitable for a typical family to live in. Both the house & the lot are in the owner's possession. There are no walls to be shared with neighbors and, that is why, one may enjoy his or her privacy to the full. As 'a house' is in the owner's absolute possession, any renovation outside a house can be done.
Nonetheless, owning 'a house' may be rather high-priced comparing with townhouses or condominiums. More than that, the owner is also expected to take an ideal care of the outside and pay all the maintenance work by himself/herself. Usually the expenses are shared between members within a town home or condo community. The community's funds are made up of fees inflicted on all condo owners.
When purchasing a condo, one should keep in mind that only interior of the unit is owned, while the outside is in the common possession. In other words, everything that is interior the condo is the owner's property and everything inclusive of green lawns, yards, corridors, parking places outside the condo is owned by a condo community.
Condominiums are very often purchased by somebody who cannot afford high-priced single family houses and maintenance expenditure. Yet, possessing a condo may have several cons. Firstly, you have no privacy, as neighbors are all around you. Secondly, you have no private garden or a lawn where you can grow your favourite 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 put it up for sale. Charges should also be considered before obtaining a condominium, as in some areas they are little by little growing. Fees may rage from 1 to 5 hundred dollars a month, thus it will significantly raise the cost of your house.
Townhouses have features of both single family houses & condos. So, when owning a townhouse 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 1 wall and, therefore, can sell their property easily & at a higher rate.
Compared with condominiums, there is normally a nice yard nearby a town house which is as big as that attached to a house, but is not that expensive. That is why, townhouses may be a suitable alternative for those purchasers who are searching for private space of a single family house & quite reasonable prices of a condo.
Being able to differentiate house types is considered to be a vital key to choosing an appropriate place to live in that will comply with all demands of the owner. |
Article Details
