Once you start searching for a home (click here to start now), there will probably be some new-to-you vocabulary popping up along the way. There are many types of homes to choose from and each has its advantages and disadvantages:
The most popular style and the most solid investment. It is a free-standing home which sits on its own lot thereby offering a greater degree of privacy.
A single-family home that is joined to another one by a common wall. It can offer many of the advantages of a single-family detached home and is usually less expensive to buy and maintain.
Two units — one above the other or side by side. The owner usually lives in one unit and rents the other.
Townhouse (or Row House)
One of several types of single-family homes joined by common walls. It offers less privacy than a single-family detached home but still provides a separate outdoor space. These homes can cost less to buy and maintain.
A factory-built single-family home that is transported to your chosen location and placed on a surface-mounted foundation. The term manufactured home has replaced the term "mobile home".
Also a factory-built home constructed in compliance with local building codes. The home is typically shipped to your location in two or more sections. It may or may not have a longitudinal sub-frame.
Refers to a form of legal ownership as opposed to a style of construction. Condominiums can be high-rise residential buildings, townhouse complexes, individual houses and low-rise residential buildings. Condominiums are also known as stratas in British Columbia.
When searching for your home, think about your needs before making a decision. Don't forget to look beyond the walls. The environment surrounding your home can be almost as important as the environment inside of it. And make sure to choose the right agent to help guide you through the process.