Discover the advantages and disadvantages of these three popular styles of home
If you are considering a real estate purchase, you have likely considered three types of property: single-family homes, condos, and townhouses. So, which one is the right choice for you and your family? Let’s find out.
There are many advantages to owning a single-family home, but the biggest benefit of most of them is size. With a single-family home, you have more space in the yard, more rooms in the home, and more chances to expand and remodel if needed. From storage to personal space, you simply get more with a single-family home, and you also have better privacy because your living space is not connected to anyone else’s.
With the extra size, however, comes an extra price. In general, houses will be more expensive to purchase. You will also be responsible for all the upkeep, maintenance, yard work, and home repairs.
Who would enjoy a single-family home?
As the name implies, single-families will be the happiest in single-family homes. If you have children (or hope to soon) and want to give them more space indoors and out, then you should look into buying one.
In a condo, you take possession of a single unit inside a facility that, essentially, resembles an apartment building. These units add a high level of convenience to your life, especially since all building maintenance and upkeep of the grounds are taken care of.
With a condo, you have less size. Essentially, your private space is limited to the inside of your unit. Although there may be outside spaces, these will be communal areas that all residents can enjoy. There is also typically less appreciation after you purchase a condo and the maintenance comes at a cost, as you must typically pay monthly or quarterly homeowner’s association or condo fees.
Who would enjoy a condo?
Many people benefit from the convenience of condos. If you are a recent college graduate with no family or a retiree who doesn’t want a multi-level home with stairs or a lot of upkeep, you will likely enjoy living in one.
A townhouse combines the convenience of condo living with the privacy and (some of) the space of a single-family home. This compromise and balance is often a reason that many people enjoy townhouses and choose them over condos. Townhouses can include multiple stories (like a house) but also have yard work and some repair issues covered by regular association dues.
Like any good compromise, you’ll have what you want, but less of it. In this case, you’ll have less privacy and space than in a single-family home. If you have a yard, it will be smaller, and there will be no opportunity for expansion. Also, many homeowner’s associations regulate what you can do with the exterior, severely limiting your personal choices.
Who would enjoy a townhome?
Anyone who desires more space than a typical condo but wants greater convenience may enjoy a townhouse. This can include young professionals with small families or recent-retirees who want a little less upkeep.
Discover your dreams with Encore Realty
Whether you are moving to a single-family home, condo, or townhouse, we are here to help. We have years of experience proudly serving Southwest Florida, so contact us today and discover the home of your dreams!