| There are three popular house types most favoured by purchasers at the present time - single family houses, town homes and condominiums. The term 'house' is clear to everyone, while some customers as well as estate agents still have a ill-defined idea of the terms 'town home' & 'condo'. It is essential to differentiate the terms when looking for a suitable property.
'A house', or 'a single family home', is a detached unit suitable for a typical family to live in. Both the house and the lot are in the owner's possession. There are no walls to be shared with neighbours and, hence, one may enjoy his or her privacy to the fullest. As 'a house' is in the owner's absolute possession, any renovation outside a house can be done.
Yet, possessing 'a house' may be rather expensive comparing with townhouses or condominiums. More than that, the owner is also supposed to take an ideal care of the exterior and pay all the maintenance work by himself/herself. Usually the expenditure is shared between members within a townhouse or condo community. The common budget is made up of fees mandatory for all condo owners.
When acquiring a condominium, one should keep in mind only inside of the unit is owned, while the exterior is in the common possession. As stated differently, everything that is interior the condo is the owner's property and everything including green lawns, yards, hallways, parking places outside the condo is owned by a condominium community.
Condominiums are commonly purchased by somebody who cannot afford high-priced single family houses and maintenance costs. Yet, possessing a condo may have a few cons. First and foremost, 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, choose the one which has fewer shared walls. It will cost more, in case you would like to put it up for sale. Charges should also be taken into account prior to obtaining a condo, as in some areas they are gradually rising. Rates may vary from 100 to 500 dollars per month, so it will significantly raise the cost of your home.
Town homes have characteristcs of both single family homes & condos. So, when possessing a townhouse you will have to share walls with your neighbors, but only on either side of you. There will be no neighbors above or underneath your unit. Lucky are those purchasers who own an end unit, since they share only one wall and, therefore, can sell their property easily & at a higher price.
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 high-priced. That is why, townhouses may be an appropriate choice for those purchasers who are hunting for private space of a single family house & reasonable prices of a condo.
Being able to distinguish between home types is assumed to be a key to choosing a proper home to live in that will meet all requirements of the owner. |
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