Before applying for a mortgage, homebuyers should locate the ideal house they want. Finding the perfect home to buy can be exciting yet daunting. With so many factors to consider, figuring out where to start can take time. However, there are a few key steps to take.
Start by considering the location of the home. Afterward, learn more about the community it belongs to. Lastly, identify which housing type you prefer. But which common housing types are available in the market today? Here are some classes which might feel close to home.
1. Single-Family Home
A single-family home is a standalone residence. It typically has a yard, driveway, and garage and is not attached to other homes. Usually, owners own both the land and the property sitting on top. It is the most common type of housing in the U.S. and is ideal for those wanting privacy.
According to the U.S. Census Bureau, attached dwellings, like townhouses, are single-family homes. However, the property should be divided by a floor-to-ceiling wall, separating the different dwellers living in each space. They should not also share any utility, heating, or air conditioning systems.
2. Multi-Family Home
A multi-family home is a structure that contains more than one dwelling unit, usually connected by a common wall. These homes can range from duplexes to large apartment buildings and are typically owned and managed by a single entity, such as a landlord.
They are often more affordable than single-family homes and provide multiple tenants with a sense of community. Multi-family homes often have shared amenities like laundry facilities, courtyards, and storage. They also tend to be located near public transportation.
3. New-Construction Home
A new-construction home is an entirely new house, built from the ground up. They are often made in planned communities and designed to meet the latest building codes and standards. Most new construction homes come with warranties from the builder and often include more unique features.
New construction homes are more expensive than existing homes, but they give buyers more control over their homes’ features and design. They often come with lower maintenance costs and a lower risk of mechanical or structural issues.
A condominium is a type of housing where multiple units are owned by individuals and share common areas, such as hallways and lobbies. Condos are usually in a multi-unit building or complex, wherein the unit owner owns the interior space.
Meanwhile, all unit owners jointly own the common areas. Condos typically cost less than single-family homes and offer amenities like swimming pools, fitness centers, and security systems. They also tend to have lower maintenance costs and provide a sense of community.
Townhouses are similar to condos in that they are attached to multiple-unit dwellings. However, townhouses are often larger than condos and have more features, like multiple stories and a private yard. Townhouse owners typically have sole ownership of the interior and exterior of their unit but may have shared walls with their neighbors.
There are many types of housing options available for potential homeowners. Single-family homes are the most common type of housing and offer the most privacy and space. Condos are a more affordable option with many amenities and lower maintenance costs.
Townhouses are similar to condos but are often larger and have more features. Each type of housing has its benefits and drawbacks. Therefore, potential homeowners should consider their needs and preferences when deciding.
Salisbury Homes offer to buy and sell services to clients and agents to find the perfect house for their needs and preferences. But aside from providing built properties, we are also a group of affordable home builders passionate about designing the ideal home for our clients. Build a dream home in Utah with us by booking an appointment on our website today.