7 Types Of Homes You Should Know As A First Time Buyer

The shelter is one of the most important things in this world to survive, other than food and water. Wherever you go, you need a shelter that protects you from harsh weather, animals and other adverse conditions.. Initially, there were only a few types of homes in the name of shelter But now the modern generation has come up with seven different types of homes. These homes are based upon the size and requirement of families and it varies from single-family homes to micro-lofts. Here is a brief summary of different types of homes that are developed by modern civilization. Let’s dig in to know more about them.

1. Single-family homes

Single-family homes are also known as single-detached dwelling homes. These homes are described as a single dwelling unit which has open space on all the sides of the house. It also has direct access to the streets or the main roads. Most of the single-family homes have garages. These homes gives more privacy to the owners and is also free from property management fees.

2. Condominiums and apartments

Condominiums are popularly known as condo and are quite similar to apartments. The only difference between a condo and an apartment is that the condos can be sold independently. Condominiums buildings have many units and different units can be owned by a different owner. Whereas the units of apartments are leased by their tenants. In other words, the units are owned by a corporation and then they rent out the units of apartments to individual people. Remember, if you are renting a condominium, then your landlord is the owner of that unit and not a corporation. These dwelling homes can be found in almost every metropolis around the world. 

 3. Townhomes

Townhomes are individual houses just like Single-family homes but these homes are placed side-by-side. To put it differently, we can say that these homes have either one or two walls that are shared by two adjacent homes. Townhomes have access to multiple floors and have a personal parking garage. The structure of townhomes can be quite large with multiple floors, therefore it is also known as multiple storey buildings. These homes differ from country to country.

4. Duplexes

Duplexes are divided into two separate units and are constructed either in the form of a townhome or an apartment. To put it another way, a duplex has two units either connected side by side or one above the other. Therefore, they are also known as semi-detached homes. Most of the times, the units of duplexes are the mirror image of each other. Duplexes are said to produce higher rental income and are cheaper than a single-family home.

5. Laneway Homes

Laneway homes are considered to be a part of single-detached homes. These homes are smaller in size which is located in a backyard and opens up onto a back lane. Laneway homes were started in Canada and are currently very popular in Vancouver. As per Vancouver real estate market Laneway was started as an eco-density initiative for increasing urban density in the pre-existing neighborhood. These are considered to be good investment but sometimes it has an impact on privacy. 

6. Coach Homes

Coach Homes are constructed in a similar way to laneway homes. But the difference is that a coach home can be graded and are typically larger than the Laneway homes. However, it is also constructed as a part of single-family homes and requires an area like a yard. Coach homes are considered to produce a huge rental income for the landlords. These are priced at a reasonably low price, making it an affordable option for the people.

 7. Micro-Lofts

Micro-lofts are also known as micro-condos. It was introduced in Vancouver in the year 2009, it requires an area up to 300 square feet, which has the same size as that of a two standard parking stalls. They are a great option for living in dense cities because they are quite affordable. Because of its small size, it requires furniture that is space-saving like folding bed, or two in one bed, etc. These micro-lofts are the smallest and most affordable homes in the list of types of homes. However, they are quite stylish and modern looking home.

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