The most common types of homes that people purchase are the single family home, a townhouse or a condominium. There are others, but these are the most common. In this video we’ll talk about each.

The single family home is what most people think about first, when buying a home. A single family house is the typical house that you see up and down the streets of nearly every city. It is a stand-alone house where you would own the building and the land it sits upon. It may be a 4-bedroom, 2-story house in the suburbs or in the city.

In comparing a single family house to a townhouse or condo, there are significant advantages. The main advantage is that you own all the walls and structures, and you can do almost anything you want to it. Having control of the entire property also means you are responsible for the continued maintenance. This would include things such as replacing the furnace, water heater, redoing the driveway or replacing the roof.

Most people think of townhouses when you see a building that has several units grouped together with each having its own entrance. The main difference between a condo and a townhouse is that with a condo, you own the area within the walls, where in a townhouse, you own the land as well. This usually means a condo building is more like an apartment building with one entrance for the entire building, whereas a townhouse usually has an entrance per unit. This difference is a technical one, but most people think of it from a stylistic approach.

With a townhouse property the association maintains the overall structure and also dictates the look of the properties. The association also performing some of the maintenance for you. This can include anything from mowing and watering the lawn, to shoveling the snow, and any other exterior maintenance. Anything interiorly is your responsibility, including the interior surfaces, and major appliances.

The condominium, or condo, is a type of dwelling that is most like an apartment building, except you purchase the individual units. It can be a high-rise building comprised of 20, 30, or 40 stories, or a low-rise building of up to 4 stories. This type of home also has a home owners association (HOA) fee. The major difference between a townhouse and a condo, as mentioned above, is that in a condo, you only own the space within the unit plus part of the common spaces. You don’t own the land beneath your unit. This type of living can be especially appealing to "snow birds", those who leave their property for months at a time because the property maintenance is done by the association while the owner is away.