When you decide to buy a home, you must decide what type to purchase. Some people prefer multi-family houses, such as townhomes or condos. Others prefer single-family properties. Which type is better for you? Do you know which type you want? If you are unsure about which type to buy, you can view both options. Before you view homes for sale, it might help you to know the following three primary differences between single-family homes and multi-family units.
1. The Setup
The first primary difference is the setup of the homes. A single-family house is a stand-alone structure. It is not connected to any other structures or homes. It stands by itself as a single-family house, whereas a multi-family home is not set up by itself. Instead, you might find two homes connected. You can also find multi-family homes that contain many homes within the same structure, like the design you find with an apartment complex. If you want the most privacy, you might want to pick a single-family home. Your neighbors will be further away, and you will not share walls with anyone.
2. What You Own
The second difference between a multi-family home and a single-family property is what you own. When you purchase a single-family home, you own the entire structure, including the walls. When you buy a multi-family unit, you typically only own the inside of the unit. You do not own the outside walls. You also do not own the roof, yard, or any other parts of the property. You only own the inside of the unit.
3. The Freedom and Rules
The other primary difference is the freedom and rules associated with each type. If you live in a multi-family home, you will have a homeowner's association (HOA) ruling over you. This HOA controls what you do and the freedoms you have. Additionally, you pay a monthly fee to the HOA, which pays for community repairs and upkeep. You typically will not find an HOA with a single-family home community. As a result, living in a single-family house provides more freedom to you and fewer rules. This point is a good one to consider before making your purchase.
Knowing these three differences might help you decide which type of structure to purchase. If you have questions about homes for sale, write them down and contact services like Vickie Gallimore: RE/MAX Central Realty to start the process.