Choosing the type of place you want to live in is the first step to picking a place to live. However, it can be the most important part aside from location. The size and layout of your home should reflect the lifestyle you want, so families with children might choose very differently than singles or young couples. There are many options for selecting a real estate property besides the trendy ‘house vs. apartment’ argument that many people suggest… this is why you should always reach out to your local real estate agent for advice.
Here are just a few options you can choose from, some of which are more popular than others. Your city and location may determine what kind of selection you have, as well as what fixtures are popular, but here’s some vocabulary for your next house-shopping trip on the real estate market lane.
A single residence house
The most obvious one on this list, but certainly the most popular. It has four unshared walls; it usually comes with a yard. Essentially, it is perfect for families with children. However, the home value can be high and (depending on the area) unaffordable for the home buyer trying to buy a home. A real estate property can be expanded, added onto, and adjusted to the tenant’s wishes. If you want freedom, flexibility, privacy, and space, a house may be the best option.
Condominium
Usually styled like apartments, these living spaces are made to be sold, not rented. Most are single-floor and typically have anywhere from one to three bedrooms. There’s no need to tend to yards or lawns since you co-own the building and property with others. Less privacy and space, but they are usually cheaper and suitable for couples.
Also, if you intend to invest in a real estate property for the very first time, yet you wouldn’t opt for anything fanciful or expensive, you might want to consider buying a condo at the beginning. The condo’s size, year of construction, and interior design should be the most relevant things you should consider before purchasing your first condo.
The residence will give you plenty of freedom, especially If you enjoy the perks of being single. You can move around as you please, even sell it if you want, which is not that difficult at all. Perhaps, you can try other cities beloved by singles too!
Townhouse and duplex
The middle ground between condos and houses, a townhouse is a real estate property that is smaller than a house and may share up to two walls with other living spaces. It usually has yards and separate front doors but isn’t as private or roomy as a house. Often have two stories for convenience.
People often confuse townhouses and duplex homes. In the case of the first one, a single-family occupies the building, while two families reside in a duplex, of course, living in two separate units. And though two families share the lot the duplex was built on, actually only one of them owns it. A townhouse owner has land ownership too.
A duplex is an excellent starter home for house hunters and future real estate investors. At first, you may not be able to afford to purchase a single-family home you can rent out later. Covering the costs of your own house is quite tricky anyway. And then comes duplexes and multi-family units to save the day. You can live in one, while you can rent the other one. It’s a win-win situation, isn’t it?
Do you consider buying a duplex? Here are a few essentials to deal with before actually buying one. First of all, the location of duplexes is tough to come by; therefore, it’s limited to specific neighborhoods. Secondly, you’ll receive a monthly check from your renters, and you can keep an eye on the other duplex unit. These are indeed on the bright side of owning a multi-family unit. The downside is the proximity to your neighbors. Some of their habits can be a real pain.
Another aspect is when you wish to move out from your unit. If money isn’t such a great necessity, we recommend you renting out your unit instead. Hence, you’ll become the landlord for two tenants.
We advise you on buying a duplex by all means! You get tax benefits and mortgage advantages. Plus, you can transform it into an Airbnb and rent it to tourists.
Beachfront
A beachfront in size can be anything from a condo to a townhouse. Still, these are properties within walking distance to a beach. With the onset of apps like Airbnb, you can now rent these out when you aren’t enjoying time at the property and make a return on your investment. Great for young people or retirees looking for a break, and can also be bought as seasonal homes, perfect for those who love to travel to the beach for vacation.
Studio loft
A studio loft is luxurious in many aspects, yet a logical option for a stylish individual looking for something a little more high-end for their money. Such homes are usually well designed, complete with some open brick, stone, or an open ceiling plan, and are great for working from home. Small and intimate, but usually, they make up for their size in the location and view.
Rancho
A far cry from the city styles found in condos and lofts, a rancho is a good choice for people seeking solitude or a simpler lifestyle. Great for large families or people looking to raise livestock. Also, an excellent choice for gardening enthusiasts! Do you wish to have your yard and enjoy a lot of space? Rancho’s are great for people who enjoy spending time outdoors, especially those who want their morning coffee on the front porch.
Tiny homes
Many prefer mobility over stability. Not without reason, tiny homes all across the states became quite popular. You can custom-build a small house according to your taste, and it is highly budget-friendly! And what are the exact advantages? Sunlight can enter through as many windows as you wish. Installing a mini-split system is recommended for better cooling and heating performance in your home. In addition, you can buy a two-story house for more free space.
The perks of owning such a home, however, don’t stop here. They offer a viable solution for alternative housing. You can save a lot by utilizing natural energy for your wood stove, such as solar energy. In addition, you can attach your tiny house to an RV hitch. Therefore, you can be mobile all the time and live your life carefreely!
You can purchase such a marvelous and cozy house within the price range of $25,000 and $35,000!
Conclusion
Overall, there are many options to choose from when searching for a home. All of them are different, but each of them has pros and cons that you might miss if you’re strictly searching for a home.
If you are of the personality who loves luxury, perhaps a condo or loft is best for you; if you prefer economical and somewhat smaller, an apartment may be the perfect fit. We recommend townhomes for professional couples looking for a little bit of space and a cozy feel. If you prefer a super affordable house granting you mobility and reduced expenses, we recommend tiny, mobile homes, by all means! A large family with children who needs the space or loves to enjoy the great outdoors home or rancho completes the mold.
If you’re looking to find a real estate agent anywhere in the US to help find the perfect fit, The Official Real Estate Agent Directory® is a great tool to match with a real estate agent who fits your lifestyle. It depends on what you and your loved ones want size-wise and how much you are willing to spend. Just remember, it’s what’s inside the house or apartment that matters!
