Thinking about moving, you may want to take into consideration the options outside of a detached single family home. Before beginning the house hunt, you need to determine what type of home best suits your needs. While having that nice ranch with a large yard is a dream, a townhouse close to work may be more affordable and easier on the commute time. Here are the types of homes and the pros and cons for each style.
A home is the most expensive option, but most people prefer the detached dwelling. A home allows plenty of room to roam and to make changes where necessary, but these freedoms come at a price. Having a detached home allows independence and peace and quiet. Townhouses and condos can have noise from neighbors sometimes, and this can be annoying. The fact that you don’t have to share walls or a floor with anyone else is very appealing. Most homes have the space for you to create a garden area. You can get as wild and crazy with flowers and foliage as you like. A home can be customized according to your tastes from the front door color to the patio you add to the back. You always have the option of adding another room on, taking one away or even putting in a swimming pool.
While there are many positives to having a home, there are a few drawbacks. A home has a lot of maintenance and landscaping needs. Mowing the grass can be a real chore when it’s scotching hot outside. If anything breaks or needs to be upgraded, the whole expense falls back on you. While investing in a home is a wise choice, as they appreciate, it can be a costly investment that requires a lot of time. If you have children, it is by far the best option. You can also sell the home for a profit in most cases. Another thing to keep in mind is home owner’s associate fees. Some areas have them and the costs can be high and the association can be restricting.
A townhouse is a mix between a house and a condo. They are an attached structure that has some privacy with a yard and some have a garage, but they share walls. Some call them attached houses, it just depends on the area. In general, these dwellings are larger than a condo and they are also great for families with children. They tend to have play areas, pools, fitness centers and all sorts of other amenities. The utilities are typically lower, as is the cost of a townhouse, because they are attached to another home. It is not uncommon for a townhouse to be a part of a homeowner’s association and there may be monthly fees involved. While the owner is responsible for repairs, they are on a smaller scale. The complex usually takes care of roofing and other building maintenance items.
A condo is a great option for those who like apartment living. This is considered to be the most affordable option, but they are not always a good investment. Condos can be harder to sell than the other types of homes, depending on location. Condos are popular in bigger cities where space is limited. They often don’t have private yards or garages and sometimes parking is even shared. They offer the least amount of privacy and independence, partly because the walls are shared with other units. Condos usually always have a home owner’s association and the owner is never responsible for repairs to the outside. The monthly fees cover any needed maintenance. However, the inside of the condo is the responsibility of the owner. Condos often have a lot of rules and may put limitations on pets and paint colors, as well as any types of improvements that can be made. While it is an affordable option with less maintenance, it is not for everyone.
Make sure to weigh the advantages and disadvantages of each dwelling. While the price may be a big influence, there are other things to take into consideration. Take your time and find the type of dwelling that first your budget, family and lifestyle.