Top 6 Types of residential properties

We keep talking about buying properties, but most of the times what people or agent do not elaborate on are the actual possibilities buyers have, when it comes to all the different types of properties. This time around, therefore we have thought of enlisting the main types of residential properties you may be thinking to choose from.

Single family house

This is the typical example of a house which is only owned by one single family (in most cases). You can live in the whole building or you can rent the whole or one part of it out if needed. Most often than not, one house is shared in-between multiple generations of a family, because it’s more economic to live this way.

Detached house

Detached house is quite common in European countries, such as Holland or the United Kingdom. This means a property which equals the size of a half-house. One house is basically cut in half and comprises of two halves which basically mirror the other half. The amenities are shared between the two owners. This is a very cozy style of living because it’s cheaper than living in a whole house, yet it also gives you a way fuller privacy and much more space than living in a condominium. The size of the detached house varies from smaller to villa-size homes.

Condominium

This is the typical example of an apartment or residential house which comprises of many floors and many apartments (or condos) on every floor. Having an apartment is a great way to start living independently and it’s also a great way of investing money, while renting it out on the long haul.

Townhouse

This is typical in many countries, featuring long rows of houses glued together. This way of living is very general in countries such as England, Ireland or Holland, but you can also find them in the United States and other countries. Townhouse is like living in your own home having floors just as in a proper house yet the whole building is smaller and lots of the costs are shared. Every owner has a front lawn and a backyard which is gated. San Francisco has some of the most beautiful example of Victorian style townhouses.

Co-op

This is very similar to living in a condominium but while in a condominium you only own the apartment itself, in a co-op people own the full residential house together. That’s why quite often there is an interviewing and selection process when it comes to buying an apartment or a part of a co-op.

Farm houses/country house

There are lots of people who dream of owning a farm house. However the harsh reality is, that it’s tons of work, quite often not worth its price. Look through the pros and cons well before you actually buy a farm or country home.