| There are 3 most popular house types most loved by purchasers in our time - single family houses, town homes and condos. The word 'house' is clear to everybody, while some purchasers as well as real estate agents still have a ill-defined idea of the terms 'townhouse' and 'condominium'. It is essential to distinguish between the terms when searching for an ideal property.
'A house', or 'a single family home', is a detached unit 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 &, thus, one may enjoy his or her privacy to the fullest. As 'a house' is in the owner's absolute possession, any redecoration exterior of a house can be done.
Still, possessing 'a house' may be very expensive comparing with town homes or condos. In addition, the owner is also expected to take an appropriate care of the exterior and pay all the maintenance work by himself/herself. Quite often the costs are shared between owners within a town home or condo community. The community's funds are made up of fees inflicted on all condominium owners.
When obtaining a condominium, one should remember only interior of the unit is owned, while the exterior is in the communal possession. In other words, everything that is inside the condominium is the owner's property & everything inclusive of green lawns, yards, corridors, parking places outside the condo is owned by a condo community.
Condominiums are normally obtained by somebody who cannot afford expensive single family homes & maintenance costs. Nevertheless, possessing a condominium may have several cons. First and foremost, you have no privacy, as neighbors are all around you. Secondly, you have no private garden or a lawn where you can grow your favorite flowers. Anyway, when purchasing a condo, select 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 obtaining a condo, as in some places they are little by little going up. Charges may vary from one to five hundred dollars per month, so it will greatly increase the cost of your house.
Townhouses have characteristcs of both single family homes & condos. Hence, 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 under your unit. Lucky are those purchasers who own an end unit, since they share only 1 wall and, thus, can sell their property easily and at a higher price.
Compared with condominiums, there is very often a yard nearby a town house which is as large as that attached to a house, but is not that high-priced. Thus, town homes may be an appropriate alternative for those purchasers who are looking for private space of a single family house & reasonable prices of a condominium.
Being able to distinguish between house types is assumed to be a vital key to selecting an ideal home to live in that will comply with all demands of the owner. |