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Home-Buying: Which Type Of Home Do You Need?

While fixing your budget could be challenging in buying a home, choosing which type could be equally stressful. Saving money could even be easier than finding the right type which suits your style and needs. It’s like finding the right type of guy whom you will marry while you have a line piling outside your doorstep (that’s how beautiful you are!). There are a lot of possible picks in the market but finding the perfect fit is hard. Well, here are the home types that you would possibly encounter on sale that could help you choose better in which you would imagine yourself living at.

Condominiums
Condos are similar to apartments but you own it outright. You still have shared walls, shared parking garage, shared common areas, and is still subjected to homeowner’s association rules. For those who enjoy getting along with others and are much too busy to maintain their yards and structure, then condominium might be your type. If you decide to purchase a home in a place because you received a job there, condos are suitable because they cost less than an actual house. Moreover, for those who are not fond of being alone, these might be the answer. You will feel an increased sense of security. Although you need to pay monthly for homeowner’s association fees to fund maintenance, common area repairs, insurance, and contingency fund.

Townhouses
Townhouses are a combination of a condo and an actual house. Although these are also under the supervision of the homeowner’s association and therefore pays a monthly fee for the maintenance fund, it is more “independent” than that of a condo. Townhouses are usually two-stories high and you don’t have to share stairs with neighbors because they are built separately from others, yet, the distance from your neighbor is not that too far. Thus, this will give you more privacy. In addition, they have attached garages so you don’t have to worry about parking either. Since you pay for the maintenance fund, you don’t have to worry about safeguarding your home because the HOA will do it for you.

Single-family detached
This is a free-standing, unattached dwelling that usually rests on a lot larger than the home itself, which we’ll call a yard. Single-family is distinguished from a multi-family residential dwelling where several units are contained in one structure. This is “more independent” than that of the townhouse because you own the unit and the lot where it is standing, minus the homeowner’s association fee. You can also modify it to suit your taste (either it be on style or on size) as long as you follow the zoning regulations.

Cooperatives
Co-ops can be similar to condominiums but are owned by individuals and not just by one person. When you buy into co-op, you don’t actually own the entire unit but you share in a corporation that gives you the right to live in the property under a proprietary lease or occupancy agreement. It’s less expensive because you are buying “shares” and not “deeds.”

House
Houses are well-known structures. You don’t share walls, floors, ceilings, or yards with anybody else. Actually, you are fenced within your boundaries to give you and your neighbors your needed privacy. You can have your garden or a pool perhaps, in your yard where you can have barbeque parties or just hang out with your family. A house has the largest space that no condos, townhouse, or any other types of home could give its tenant. But of course, independence is more expensive than you can think of. You need to maintain it your own by which does not just include a broken faucet; it could lead to something bigger which your house really needs. Or in some cases, which you think your house really needs. You will need a large amount of saving powers to buy your dream house.