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Choosing the right type of home starts here.
When it comes to finding a place to call home, the first step is deciding what type of home is right for you and your lifestyle. From a condominium to a townhome or single family home, you have a few options to consider, each with their own unique benefits.
Read on to see what factors to consider when deciding on the right fit for you.
CONDOMINIUMS
Condo living comes with a host of benefits. Owning a condominium means you own your suite, but enjoy shared ownership of the land, building, and common areas. Costs are shared with fellow members of your condo association, and a board of directors or property management company typically make the big decisions.
One of the biggest draws of condo ownership is freedom from maintenance. Tasks that you might not have the time, ability, or desire to do yourself, like shoveling snow, mowing the lawn or repairing outside structures, are covered by your condo fees.
Other benefits of condo living include the sharing of major costs for repairs, building amenities like pools, theatre rooms, and gyms, elegant lobbies to welcome you home, added security, and a single-floor lifestyle. Condos can also be a more affordable option than owning a freehold home, making it an appealing choice for many young families.
SINGLE FAMILY HOMES
A single-family home is a house that sits on its own piece of land – sold with the home – and is not attached to any other property. Single family homes are very desirable to growing families for a number of reasons. Having a yard is a big draw for many first-time or experienced homeowners. A place to host barbecues, teach kids to play soccer, or for the family dog to run around and freely enjoy.
Single family homes also offer more privacy than a condominium or detached home, due to not having shared walls or an upstairs/downstairs neighbour. This privacy allows for you to live, celebrate, and renovate as you please – your indoor and outdoor space is entirely yours.
Single-family homes are often more affordable than other investment properties, like multi-family homes. Since there is more demand for single-family homes, these properties tend to appreciate more than multi-family homes over time.
TOWNHOMES
Townhome living may be the perfect choice to enjoy the feeling of a single-family home without all the maintenance responsibilities. A townhome and the land it sits on is owned by the homeowner, giving you a charming yard to take your dog outside, enjoy dinner on the grill, or even plant a small garden.
Townhome owners are responsible for maintaining only the interior of their homes, with outdoor maintenance handled by the homeowners’ association to ensure a beautiful and unified community appearance.
Due to the close-knit, community feeling, expect to get to know your townhome neighbours. Townhome communities often have enhanced security because neighbours look out for each another more, watching for any unusual noise or activity. Townhome developments are typically well-lit, and some even feature a security gate.
Many townhome communities feature amenities and common areas, like playgrounds, pools, tennis courts, or dog parks, all maintained by the homeowners’ association.
