| There are three main house types best loved by clients in our time - single family homes, town homes & condominiums. The term 'house' is clear to everyone, while some purchasers as well as real estate agents still have a unclear idea of the terms 'town home' and 'condo'. It is necessary to differentiate the terms when seeking an appropriate 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 &, therefore, one may enjoy his or her privacy to the fullest. As 'a house' is in the owner's absolute possession, any refurbishment outside a house can be done.
Nevertheless, possessing 'a house' may be extremely high-priced in comparison with townhouses or condos. More than that, the owner is also expected to take a suitable care of the outside & pay all the maintenance work by himself/herself. Usually the expenses are shared between owners within a town home or condominium community. The common budget is made up of fees imposed on all condominium owners.
When acquiring a condominium, one should remember only inside of the unit is owned, while the outside is in the common possession. In other words, everything that is interior the condominium is the owner's property and everything including green lawns, gardens, hallways, parking lots exterior of the condo is owned by a condo community.
Condominiums are very often bought by someone who cannot afford high-priced single family homes & maintenance expenditure. However, possessing a condominium may have several disadvantages. Firstly, you have no privacy, as neighbours are all around you. Secondly, you have no private garden or a lawn where you can plant your favourite flowers. Anyway, when purchasing a condominium, look for the one which has fewer common walls. It will cost more, in case you would like to sell it. Fees should also be thought thoroughly over before obtaining a condominium, as in some places they are little by little increasing. Charges may rage from one to five hundred dollars a month, so it will greatly increase the cost of your house.
Townhouses have characteristcs of both single family houses & condominiums. Hence, when owning a townhouse you will have to share walls with your neighbors, but only on either side of you. There will be no neighbours above or beneath your unit. Lucky are those who own an end unit, since they share only 1 wall and, therefore, can sell their property easily and at a higher rate.
In comparison with condos, there is commonly a yard attached to a town home which is as large as that nearby a house, but is not that expensive. Therefore, town homes may be an ideal alternative for those purchasers who are in search of private space of a single family house and reasonable prices of a condominium.
Being able to distinguish between house types is viewed to be a vital key to finding an ideal place to live in that will meet all needs of the owner. |
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