Buying Your First Home & Understanding Different Home Types
People move houses 5 to 7 times, on average, during their lifetimes according to National Statistics. This translates to you moving houses at least once in a span of 5 to 10 years. You might want to move to a different home because of your changing needs or you are entering a new phase in your life.
Houses come in different styles that can match your varying needs at any phase in your life. There are condominiums suited for those living alone and for newlyweds. There are also single-family houses that can accommodate large families and even mobile homes for those who may want to move around. When buying a house, it is important to consider what each style of homes offers and if these match up to your needs.
Condominiums: Condos grew popular because of people's desire to live in cities without spending a lot for a home back in the 70's. Ilyce Glink, author of the book '100 Questions Every Home Buyer Should Ask' states that buying a condo does not necessarily mean you own the unit. Buying a unit in a condominium is actually investing in the condominium itself and the amenities you and your neighbors share.
Townhouses: Townhouses are also called as 'row houses' due to the fact that they are arranged together in such a way that two units share a common wall. Town houses are much like single-family houses in terms of ownership terms. Some however, do require owners to be part of a homeowner's association to pay for shared facilities such as fitness centers, laundry room, and parking lots.
Single-Family Detached Homes: These homes come in a wide range of floor plans, styles and sizes. Single-family detached homes can be built on separate lots or be part of a community. In addition, almost all single-family detached homes have independent ownership and maintenance responsibilities. This just means that the owner incurs all fees for the upkeep of the home.
Mobile Homes and Pre-Fabricated Homes: Mobile homes are designed to be moved whenever needed, so you never purchase the land that the home sits on. Mobile homes are fully equipped with basic home amenities and appliances, and can be an affordable alternative to purchasing a regular home.
Pre-fabricated homes are a step above mobile homes, and are typically designed with sturdier materials and better construction. They can still be moved from site to site, but are of a higher quality than the average mobile home. And, just like the mobile home, you would only be responsible for renting, not buying the land it sits on.
Being familiar with the varied advantages and disadvantages of each kind of homes will make searching for the right home easier.
Knowing and planning for your future will also reduce your choices depending on your current and foreseen needs. Bachelors who are just starting out to live on their own may want to invest first in a condominium. A family may consider buying a single-family house or town house and settle in a particular neighborhood.
If you're a new homebuyer looking for homes for sale in MN, the internet is one of the fastest ways to find what you are looking for. The Minnesota MLS Listings allow you to easily search by price and neighborhood.
Houses come in different styles that can match your varying needs at any phase in your life. There are condominiums suited for those living alone and for newlyweds. There are also single-family houses that can accommodate large families and even mobile homes for those who may want to move around. When buying a house, it is important to consider what each style of homes offers and if these match up to your needs.
Condominiums: Condos grew popular because of people's desire to live in cities without spending a lot for a home back in the 70's. Ilyce Glink, author of the book '100 Questions Every Home Buyer Should Ask' states that buying a condo does not necessarily mean you own the unit. Buying a unit in a condominium is actually investing in the condominium itself and the amenities you and your neighbors share.
Townhouses: Townhouses are also called as 'row houses' due to the fact that they are arranged together in such a way that two units share a common wall. Town houses are much like single-family houses in terms of ownership terms. Some however, do require owners to be part of a homeowner's association to pay for shared facilities such as fitness centers, laundry room, and parking lots.
Single-Family Detached Homes: These homes come in a wide range of floor plans, styles and sizes. Single-family detached homes can be built on separate lots or be part of a community. In addition, almost all single-family detached homes have independent ownership and maintenance responsibilities. This just means that the owner incurs all fees for the upkeep of the home.
Mobile Homes and Pre-Fabricated Homes: Mobile homes are designed to be moved whenever needed, so you never purchase the land that the home sits on. Mobile homes are fully equipped with basic home amenities and appliances, and can be an affordable alternative to purchasing a regular home.
Pre-fabricated homes are a step above mobile homes, and are typically designed with sturdier materials and better construction. They can still be moved from site to site, but are of a higher quality than the average mobile home. And, just like the mobile home, you would only be responsible for renting, not buying the land it sits on.
Being familiar with the varied advantages and disadvantages of each kind of homes will make searching for the right home easier.
Knowing and planning for your future will also reduce your choices depending on your current and foreseen needs. Bachelors who are just starting out to live on their own may want to invest first in a condominium. A family may consider buying a single-family house or town house and settle in a particular neighborhood.
If you're a new homebuyer looking for homes for sale in MN, the internet is one of the fastest ways to find what you are looking for. The Minnesota MLS Listings allow you to easily search by price and neighborhood.
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