(Newswire.net — March 3, 2020) — If you’re considering buying a home you may have found that there are an overwhelming number of options of homes for sale, as well as options from a custom home builder.
There are single-family condominiums both attached and detached, PUD developments, standard single-family homes, as well as bungalows and other housing styles.
Which one is right for you depends on a number of factors, as each of these properties has unique benefits.
Condominiums and PUD Developments
If you’re looking to own your own property and still earn interest without personal responsibility for yard maintenance, a condominium or PUD-style development may be the route you’d like to go.
In a condominium, you have ownership of your personal property unit, and there are shared common areas that are maintained by the condominium association. A “condominium plan” details which parts of the property fall under individual unit owners as well as the percentage of interest and responsibility in the complete condominium development.
Condominiums can be attached in the style of an apartment, a bit more spacious like a townhome with individual yard units, or even a neighborhood of detached single-family properties that share common ground and structure maintenance.
If you’re looking for a bit more independence with your unit, but still want to share relief from some of the individual stressors and benefit from the community, a PUD development will likely pique your interest.
These developments are planned by home builders and while you do completely own your house and property, there are common areas and amenities that you share the responsibility of and have rules and limitations set forth for by a homeowner association.
Single Family Homes
If you’re ready for the full responsibility of owning a home and yearning for the personal freedom homeownership provides, a single-family residential home is what you’re looking for.
This property type allows you to make the most of your investment and earn the highest interest and equity available for single-family owners.
When you’re looking for a single-family home, you can look both at existing homes for sale, as well as use a custom home builder. Custom builders may have neighborhoods with individual properties for sale, or you can even find your own land to build on.
If you’re considering a build, make sure that the land is buildable, zoning allows for the type of home you’d like to build, and that you have accounted for the cost of securing utilities like gas, electricity, and water.
It’s best to work with a contractor and the city planning committee when choosing the site for a future build so that you don’t run into any issues with zoning or grade.
When looking at the vast market of single-family properties for sale, single-family homes give you the widest range of options. You can look for a rural, suburban, or urban location with yards of all shapes and sizes.
Homes are available in every style including tiny-houses, ranches, ramblers, cape-cods, 2 stories, cottages, bungalows, or unique-style properties like renovated barns or schoolhouses.
You can buy brand new, slightly used, or a fixer upper. Your eligibility will depend on the types of financing you qualify for. Some types of financing are only available for certain property types or conditions.
Ultimately the choice comes down to what fits your budget and lifestyle the most. Usually, you have an idea of the criteria that are most important to you, and a realtor is able to find properties that meet some or all of your criteria, within your approved budget.
Bungalows
As you’re searching for single-family properties, you may run across properties described as a bungalow. Bungalows can be found in a condominium, PUD Development, or single-family home markets and are always detached single-family residences.
Originating in Asia, bungalows are designed after the huts of Bengali farmers in Asia. In 1869 the first home in Britain classified as a bungalow was built, with a slightly altered style. In America, bungalows were first used as vacation homes and gained popularity in the early 1900s and were widely popular and built between 1910-1940 in urban areas.
What makes a bungalow a bungalow? Bungalows are traditionally very small like a cottage, and usually square-shaped. They’re one story, and if there is a second story it is small, and the windows are built into the low-pitched overhanging roof.
Bungalows offer more privacy because of the roof pitches and low height that can be hidden from view with fences or hedges. A typical bungalow home will be seen with lots of built-in cabinets and shelves to make the most of a small space.
Compared to ranch or cape-cod style homes, bungalows are much smaller. Ranch homes are typically more rectangular in shape and have been referred to as ramblers because they spread out over more space, often including higher ceilings or an attached garage.
In cape cod homes typically the second story is often a normal height and shape instead of built into the slope of the roof like a bungalow.
How to Choose
Which style of home you choose all depends on the needs of your family. A bungalow-style home is optimal for retirement because everything is accessible with no stairs, and nothing will be too far away by design. A condominium or PUD property is great for someone who travels or works often and doesn’t care to deal with things breaking down.
A standard detached single-family home will fit a growing family and give you the most equity down the line. Ultimately you may choose to look at one or more of these property types and choose to compare the pros and cons of a few concrete choices.