House, Townhouse, or Condo?
When looking for a home, you will generally find three home types single family house, townhouse, and condominium. Everyone knows what a house is, but many buyers (and many real estate agents) use the terms townhouse and condominium interchangeably. It is important to know the difference so that you can understand which type of home suits your needs. What most people call a house is a stand alone home. These are detached structures, so you own all of the walls that make up your home. In MLS listings, these types of homes are usually called single family homes because they are designed for one typical family to live in. Owners possess both the house and the land that the house sits on (called the lot). Since there are no common walls that you share with neighbors, a house provides the most privacy and the most flexibility. This flexibility means that you can add on to your home or repaint the exterior if you want. There are two major disadvantages of owning a house. The first is that si
