Choosing the type of place that you want to live is the first step to picking a place to live. However, it can be the most important part aside from location. The size and layout of your home should reflect the lifestyle you want, so families with children might choose very differently than singles or young couples. There are many options for choosing a real estate property besides the popular ‘house vs apartment’ argument that many people suggest… this is why you should always reach out to your local real estate agent for advice.
Here are just a few options you can choose from, some of which are more popular than others. Your city and location may determine what kind of selection you have, as well as what fixtures are popular, but here’s some vocabulary for your next house-shopping trip on the real estate market lane.
- A single residence house. The most obvious one on this list, but certainly the most popular. Four unshared walls, usually has a yard, and perfect for families with children. However, the home value can be high and (depending on the area) unaffordable for the home buyer trying to buy a home. A real estate property can be expanded, added onto, and adjusted to the tenant’s wishes. If you want freedom, flexibility, privacy, and space, a house may be the best option.
- Condominium. Usually styled like apartments, these living spaces are made to be sold, not rented. Most are single-floor, and usually have anywhere from one to three bedrooms. There’s no need to tend to yards or lawns, since you are co-owning the building and property with others. Less privacy and space, but they are usually cheaper and good for couples.
- Townhouse. The middle ground between condos and houses, a townhouse is a real estate property that is smaller than a house, and may share up to two walls with other living spaces. Usually has yards and separate front doors, but still aren’t as private or roomy as a house. Often have two stories for convenience.
- Beachfront. Can be anything from a condo to a townhouse, but these are properties that are within walking distance to a beach. Great for young people or retirees looking for a break, and can also be bought as seasonal homes, perfect for those who love to travel to the beach for vacation. With the onset of apps like Airbnb, you can now rent these out when you aren’t enjoying time at the property and make a return on your investment.
- Studio loft. Luxurious in many aspects, yet logical for someone looking for something a little more high-end for their money. Lofts are usually well designed, complete with some open brick, stone or an open ceiling plan, and are great for people who work from home. Small and intimate, but usually they make up for their size in the location and view.
- Rancho. A far cry from the city styles found in condos and lofts, a rancho is a good choice for people seeking solitude or a simpler lifestyle. Great for large families, or people looking to raise livestock. Also a great choice for those who love to garden, keep a yard and who enjoy a lot of space to enjoy. Rancho’s are great for people who enjoy spending time outdoors, especially those who enjoy their morning coffee on the front porch.
Overall, there’s a number of options to choose from when searching for a home. All of them are different, but each of them has pros and cons that you might miss if you’re strictly searching for a home.
If you are of the personality that loves luxury perhaps a condo or loft is best for you, if you prefer economical and somewhat smaller than an apartment may be the perfect fit. A professional couple looking for a little bit of space, with a cozy feel – townhomes all the way. A large family with children who needs the space or loves to enjoy the great outdoors a home or rancho completes the mold.
If you’re looking for a real estate agent anywhere in the US to help find the perfect fit, The Official Real Estate Agent Directory ® is a great tool to match with an real estate agent who fits your lifestyle. It depends on what you and your loved ones want size-wise, and how much you are willing to spend. Just remember, it’s what’s inside the house or apartment that matters!