What Type of Home is Right for Me and My Family?

There’s a lot to consider when it comes to buying a home, but as such a large investment with the median home price in the U.S. around $240,000, it’s definitely something you’ll want to think seriously about before signing that dotted line.

Finding the home that’s right for you and your family will help lessen the chance of regret and ensure that you’ll have the perfect place for many years to come, but with so many housing choices, especially in urban areas, it can be difficult to know which type of residence to buy. A detached home, townhouse or condo? All have their pros and cons that are important to understand in order to make the best decision possible.

Townhouses

A townhouse is defined as a multilevel residence that’s attached to other residences on a street. Owners typically own the land on which its situated, including any front and/or backyard area that goes with it. They tend to be more affordable for the amount of space they offer, usually coming with a garage, making them a good value, as you’ll notice when looking through San Antonio townhouses, or just about anywhere else. Any yard work and snow removal are often handled by a homeowners’ association (HOA), making them more low-maintenance than a detached house. Owners pay monthly dues that cover this, as well as trash pickup and maintenance of common areas in the community.

Condominiums

Condos look very similar to apartments, oftentimes, you can’t really tell them apart. They’re usually cheaper than townhouses as they don’t come with land. The exterior, as well as land and any improvements, is considered part of a common area that’s owned collectively by owners in the community. Like owners of townhouses, condo owners pay month HOA fees that cover the costs of insurance for things like roofs and parking structures as well as snow and trash removal, along with exterior maintenance. That also means that the HOA fees for condos are usually quite a bit higher than they are for townhouses. As condos are often available in prime downtown locations, they can be ideal for those who want to live in the city and enjoy a short commute to work without having to worry about maintenance while still enjoying the benefits of home ownership.

Detached Homes

A detached home typically provides owners with the most freedom when it comes to improving the land and structures that come with them. The square footage can range from tiny to sprawling, but what defines them is that they’re freestanding, sharing no walls with neighbors.

They can be ideal for those who want to have a yard for a garden, their children to play in or for other hobbies, and don’t mind putting in the work (and money) to maintain it. While some have HOAs, the fees are typically minimal and cover things like shared road maintenance, trash and snow removal. Of course, it may not have the amenities that come with some townhouses and condos, like swimming pools and fitness clubs.

In order to make one of the most important decisions in your life time, you have to consider a lot of different aspects.