No matter what stage you’re at in life, deciding where to live is an important part of your future. Choosing a home requires a lot of consideration, with each option offering its own perks and drawbacks.
There are several different types of properties. Which one is right for you depends on not only your stage in life, but also your needs, preferences and desires.
Here’s a quick run-down of the different kinds of properties to consider:
Single Family
A single family home is a detached single or multi-story house that sits on its own lot. They typically have space for a driveway, yard, and garage. Single family homes are best suited for couples as well as small and large families.
If you are planning to start a family or already have one, this is the best option for you. Additionally, single family homes are the best option for folks with pets.
Single family homes should be for those who don’t mind getting their hands dirty with a weekend DIY project. Having a home, especially with a yard, is an investment which requires constant maintenance and upkeep.
Townhome
Townhomes are two- or three-story properties that share a common wall or walls with neighboring units. This property type is best suited for single individuals, a couple, or a small family.
With townhomes, you have less control of your surroundings and privacy but also less maintenance overall. The smaller space and often HOA provided yard maintenance makes a good combination for busy professionals.
Condominium
A condominium is an owned unit that shares walls with other units, while the lot is owned and maintained by a management company. Due to the low maintenance requirements, it is best for single people, retirees, or couples.
Condominiums offer the least amount of privacy and control of surroundings out of the three property types. While they are less expensive overall, they don’t make a great space for children and pets. However, they require almost no maintenance on the owner’s part.
