When it comes to choosing a new home, the options are as diverse as there are people. Which home structure or style fits your lifestyle best? If you know this before you start your home search, you can narrow down your options and tell your Realtor exactly what you are looking for.
Structure refers to the type of building, like a single-family home or a condo. Style refers to the architectural features and design, like Victorian or Craftsman.
This article will summarize seven of the most common types of home structures in Ontario, most of which are currently available in Grey and Bruce counties.
Apartment
An apartment is a suite of rooms housed among other similar units in a large building. The key feature is that you rent this home from a landlord. In some apartment complexes, a laundry room, gym facilities or a pool is available.
Pros
- Repairs and maintenance are the landlord’s responsibility
Cons
- No option to purchase/no equity building
- Less flexibility, freedom, and privacy
Condominium
A condo is similar to an apartment but allows you to build home equity and take charge of all repairs and upkeep. Condos are a great option for city living and older adults who don’t want the stress of taking care of a single-family home.
Pros
- Less upkeep than a single-family home
- Build home equity
Cons
- Less privacy and freedom
Townhouse
A townhouse is an individually owned residence but shares one or two walls with the next home in a row of houses. Each townhouse unit normally contains a full basement, main level living area, and sometimes an upper level for bedrooms. Occasionally, there may be shared amenities among a row of townhouses.
Pros
- Typically more affordable than single-family homes
Cons
- Less privacy
- Less freedom to change the exterior
Semi-detached (duplexes)
A semi-detached home is a property on a single lot with two living spaces that share one wall in common. Special noise-proofing materials and structures are used in semi-detached homes to stop sound from traveling between the two residences.
Pros
- Typically more affordable than single-family homes
Cons
- Less privacy
- Less freedom to change the exterior
Housing Co-Op
A housing cooperative is quite different from other arrangements because you buy a share of a co-op company that owns a building and common spaces, rather than an actual property. The number of shares you own normally correlates to your personal living space. You’ll have a vote for community decisions, and you’ll split maintenance costs and other fees with the other residents.
Pros
- Great sense of community
- Less expensive than a traditional home
Cons
- Less freedom
- Must get group approval to make some changes
Tiny Home
Tiny house popularity has boomed in recent years, spurring what’s known as the “tiny home movement.” These small structures usually fall in the range of 60-400 square feet, some of which are prefabricated, while others are custom builds.
Pros
- More affordable
- Easier to customize and maintain
Cons
- Smaller space
- Less room for family growth and hosting visitors
Single-Family Detached
Almost two-thirds of homes in Ontario are single-family detached houses. The key feature of a single-family home is that it’s completely detached from other housing units, unlike condos, apartments, townhouses, and housing cooperatives. They’re typically found in suburbs and less populated areas.
Pros
- Greater privacy
- More freedom to make changes
Cons
- Typically cost more to maintain and own
The House
Explore the different components of the house.
CENTURY 21 In-Studio Realty Inc. Brokerage
INFO & SERVICES
CENTURY 21 In-Studio Realty Inc. Brokerage
927 2nd Ave E, Owen Sound, ON N4K2H5
(519) 375-7653
INFO & SERVICES
Independently Owned and Operated. ®/™ trademarks owned by Century 21 Real Estate LLC used under license or authorized sub-license. © 2020 Century 21 Canada Limited Partnership © 2020 Century 21 Canada Limited Partnership
The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system. The trademarks REALTOR ® , REALTORS ® and the REALTOR ® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license. This listing content provided by REALTOR.ca has been licensed by REALTOR® members of The Canadian Real Estate Association. Not intended to solicit properties currently listed for sale or buyers under contract.
Century 21 Canada Limited Partnership currently has franchise opportunities available in select markets across Canada. The intent of this communication is for informational purposes only and is not intended to be a solicitation to anyone under contract with another real estate brokerage operation. This e-mail message contains confidential information intended only for the use of the individual or entity named above. Any unauthorized use or disclosure is strictly prohibited. If you have received this communication in error please immediately delete the e-mail and either notify the sender at the above e-mail address or by telephone.
© 2024 MoxiWorks
