First-time homebuyers are often confused about the differences between condos, townhomes, single-family homes, multi-family homes and co-ops. There are some major differences and a number of pros and cons to each. A good place to start in understanding it all is this article from Redfin. But, beyond the basics, how do you know which type of home is right for you?
Bankrate.com suggests that you look beyond the sales prices, and consider your lifestyle, home maintenance skills and financial standing. For example, if you enjoy the freedom to enjoy life without the cost and time requirements of home maintenance, a condo or town home may be best for you. If you’re the creative type and want to stylize your home’s exterior, you’ll want to avoid communities with a Homeowner’s Association. Dreaming of a yard, a spot for gardening, and some privacy? A single home will fit the bill – if you can deal with the time needed for lawn care, and the higher costs for utilities and repairs.
For personal assistance in finding the best home for you, contact the professionals at Vanguard Realty Associates. We’re experts at matching our clients with the perfect home.