Types of Homes

What's Out There?

Single Family Home 
(that is 1 home on a property) The average home buyer looks at the Single Family Home as a single choice however did you know there are other home types that may also be a good choice for you?

Multifamily homes
As in investment some people start with multiple family dwellings, so they'll have additional income (rental income) to help with their initial and ongoing costs. ALso some mortgage plans, including VA and FHA loans, can be used specifically for buildings with up to four units, as long as you intend to occupy at least one of them.

Condominiums
Called Condo's, it is best understood that you own "from the plaster in" just as you would a standard house. You also own a percentage of some of the elements as well like: staircases, sidewalks, roofs and other similar elements. Ongoing monthly charges pay some taxes and insurance on these elements, as well as repairs and maintenance. The development is administered by the local homeowners association.

Co-ops
In some areas, cooperative apartments are a regular occurence. With these, you buy shares in a single corporation that owns the building, with that you receive a lease to your personal apartment. Your monthly fees include your part of an overall mortgage on the entire building.

Want to Know More?

This is just a small list of home types to get you thikning about a new purchase,
contact me to learn more and let me know of your needs!