| There are 3 major home types preferred by clients at the present time - single family houses, townhouses & condos. The word 'house' is clear to everyone, while some clients as well as estate agents still have a ill-defined idea of the terms 'townhouse' & 'condo'. It is crucial to distinguish between the terms when hunting for an ideal property.
'A house', or 'a single family home', is a detached structure suitable for a typical family to live in. Both the house & 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 full. As 'a house' is in the owner's absolute possession, any refurbishment outside a house can be done.
Nevertheless, owning 'a house' may be really expensive if compared with town homes or condominiums. In addition, the owner is also supposed to take a suitable care of the exterior & pay all the maintenance work by himself/herself. Normally the expenses are shared between owners within a townhouse or condo community. The community's funds are made up of fees inflicted on all condo owners.
When acquiring a condo, one should keep in mind only interior of the unit is owned, while the exterior is in the common possession. In other words, everything that is interior the condo is the owner's property and everything including green lawns, yards, hallways, parking lots exterior of the condo is owned by a condominium community.
Condos are commonly obtained by people who cannot afford high-priced single family houses and maintenance costs. Nevertheless, owning a condominium may have several disadvantages. Firstly, you have no privacy, as neighbors are all around you. Secondly, you have no private garden or a lawn where you can plant your favorite flowers. Anyway, when purchasing a condominium, find 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 buying a condominium, as in some places they are gradually growing. Rates may rage from 1 to 5 hundred dollars a month, therefore it will largely increase the cost of your home.
Townhouses have features of both single family houses & condos. Therefore, when possessing a town home you will have to share walls with your neighbors, but only on either side of you. There will be no neighbours above or below your unit. Lucky are those who own an end unit, as they share only 1 wall &, thus, can sell their property easily and at a higher rate.
Compared with condos, there is generally a yard nearby a town house which is as big as that nearby a house, but is not that expensive. Thus, townhouses may be an appropriate option for those purchasers who are hunting for private space of a single family house and quite reasonable prices of a condo.
Being able to differentiate home types is thought to be a vital key to selecting a suitable place to live in that will satisfy all demands of the owner. |
Article Details
