When entering the real estate market to purchase your dream home, you may feel overwhelmed with all of the many housing options such as detached homes, townhomes, and condos. Each housing type has its own set of pros and cons and one may be better suited than another for your lifestyle and family needs.
In the real estate industry, a detached house describes a single-family home that sits on its own property and does not share any walls or other features with another homeowner. This is ideal for larger families who want a yard, love their privacy, and desire space.
However, it is important to note that a detached home is typically more expensive than the other two options. Additionally, this housing option usually comes with more homeowner responsibilities including yard work and regular home maintenance.
A townhome is a house that shares exterior walls with another property. This type of housing is becoming more popular throughout the country because it is less expensive than detached housing but it still provides ample square footage. Townhomes are becoming more common for small families and couples, both old and young.
When choosing a townhome, there are some drawbacks. For example, you do lose some privacy as you share walls and, often, front entryways are in close proximity to one another. You also typically do not have a big yard/ exterior space as you would with a detached home.
A condo is similar to an apartment. It is much smaller and has less square footage than the above options but it is relatively less expensive and requires less work to maintain. This housing option also comes with many perks such as swimming pools, fitness centers, clubhouses, etc. However, be aware that you may have to pay monthly fees for the maintenance of these facilities.
One reason many individuals choose a condo is the lack of maintenance that is required. For example, many tasks are completed by handymen and the management team of the condominium. However, again, you can expect to pay certain fees for these individuals to complete various repairs.
No matter if you are in the market for a detached house, townhome, or condo, Collingwood real estate agent Christine Smith can help. She can help you find your dream home in the right neighbourhood and that meets your family’s needs and budget. Contact her today to learn more.