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Single Family Homes
By far the most common form of housing in North America is the single
family detached home--ranging from 600 square foot bungalows to 6000 (or more) square foot sprawling mansions.
The most important distinguishing factors that determine a single family dwelling are that it sits on its own piece
of land (which is sold part and parcel with the home) and it is not attached to anyone else's residence. With single
family homes, your home pretty much is your castle. Subject to neighborhood and subdivision regulations and ordinances,
you can do with it as you wish. Want a different exterior color? Usually you can accomplish that (taking into account
the fact that the neighbors may not be receptive to a purple house with ecru trim). Need more room and want to
add on? Subject to the codes of your jurisdiction, you may be able to expand your living space.
You will probably have a yard of some sort--from "postage stamp" size up through multiple acres, and
your ownership will include all of it. In effect, when you buy a single family home your purchase will be of a
parcel of land (your lot) on which sits a structure (your house).
Single Family Homes
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Advantages
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Disadvantages
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- To a large degree, "your space" is your own. You can modify
or improve it as you wish.
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- All maintenance and repair costs--interior, exterior
and everything in between--are yours.
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- Re-sale value is generally the highest on single family detached
homes.
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- Lack of amenities (for example, pools, playgrounds, etc.) that you
may find in other types of housing.
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- If you need more room, you can usually add on to the existing house.
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- You are responsible for landscaping and lawn upkeep costs.
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- Generally there are no property management fees as there are in condominiums
and many townhouses.
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- In most areas, single family homes are more expensive than townhouses
or condominiums.
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Is a Single Family Home for You?
- You like your "space." The idea of apartment
living gives you the willies.
- The prospect of cutting the lawn, trimming the bushes
and shoveling snow excite you (or at least don't send you headed for the nearest bridge.)
- You like the idea of modifying your home--changing the
color, the appearance, the size. Having someone tell you that you couldn't do that would bother you.
- If you like, you are able to build a single family home
(building a townhouse or condominium community gets a little expensive!) See the section on building a house.
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