Understanding The Different Home Types of Homes Available

You might be looking for a new home now or if not now, maybe soon. National Statistics data reveal that an average person relocates 5 to 7 times in his or her life. This means that on average, every person moves at least once in a span of 5-10 years.

Houses come in different styles that can match your varying needs at any phase in your life. There are condominiums suited for those living alone and for newlyweds. There are also single-family houses that can accommodate large families and even mobile homes for those who may want to move around. When buying a house, it is important to consider what each style of homes offers and if these match up to your needs.

Condominium: Condos are perfect for those who are looking for an affordable way to live in a city. Condos became popular during the 70s and buying one does not mean you actually own the unit in the strictest sense, explains Ilyce Glink, who wrote the book '100 Questions Every Home Buyer Should Ask'. Instead, you are investing in the shared properties of the complex such as the stairs, walls, flooring and ceilings.

Townhouses: Townhouses are also called as 'row houses' due to the fact that they are arranged together in such a way that two units share a common wall. Town houses are much like single-family houses in terms of ownership terms. Some however, do require owners to be part of a homeowner's association to pay for shared facilities such as fitness centers, laundry room, and parking lots.

Single-Family Homes: The detached single-family home is one of the most popular types of homes for first time homebuyers, and available in a variety of sizes, styles and floorplans. These homes can be built as part of a miniature community, or stand alone on their own lot. Almost all single-family homes will have separate ownership and maintenance fees, which means you'll be wholly responsible for all expenses to keep your home safe, clean and secure.

Mobile Houses: Mobile houses are not a house in a traditional sense because they can be moved from one place to another. This means that you do not need to own the land where your house is located. Mobile houses are equipped with basic home utilities and are an affordable alternative to owning a traditional house.

Pre-fabricated Houses: Pre-fabricated houses are of higher quality and are made of more durable materials than mobile homes. Like mobile houses, pre-fabricated houses rent the land below it and can be moved from one site to another.

Understanding the key differences, benefits and drawbacks of different types of homes can get you started on your search and help you make the best decision on your new home purchase.

Knowing and planning for your future will also reduce your choices depending on your current and foreseen needs. Bachelors who are just starting out to live on their own may want to invest first in a condominium. A family may consider buying a single-family house or town house and settle in a particular neighborhood.

If you're a new homebuyer looking for homes for sale in MN, the internet is one of the easiest ways to find what you are looking for. The Minnesota MLS Listings enable you to easily search by price and location.