What type of home should you buy?

September 1, 2017

There are several home types to consider before buying your new home:

Single Family Detached Home A detached home means that a home is free of any shared walls and stands alone. Sometimes referred to as a single family home as opposed to adjoining multi-family residential dwellings.

Row House or Townhouse One of several types of single-family homes joined by common walls. It offers less privacy than a single family detached home but still provides a separate outdoor space. These homes can cost less to buy and maintain.

Link or Carriage Home Houses joined by garages or carports, which provide access to the front and back yards. Builders sometimes join basement walls so that link houses appear to be single-family homes on small lots. These houses can be less expensive than single-family detached homes.

Manufactured Home A factory-built single-family home that is transported to your chosen location and placed on a surface-mounted foundation. The term manufactured home has replaced the term “mobile home”.

Modular Home Also a factory-built home constructed in compliance with local building codes. The home is typically shipped to your location in two or more sections. It may or may not have a longitudinal sub-frame.

Condominium Refers to a form of legal ownership as opposed to a style of construction. Condominiums can be high-rise residential buildings, townhouse complexes, individual houses and low-rise residential buildings.

Source: This article or a part thereof has been provided by a mortgage brokerage firm for its representative brokers. Inquiries: editor@adviceon.com

 

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