Types of Homes In its most simple form, the process of buying a home is little more than a series of decisions--a sort of Real Estate "what, where, when and how." One of the first decisions (and usually one of the easiest) is the "what." Housing falls into several different categories, most notably: Single family homes, townhouses, or condominiums. Each brings its own set of advantages and disadvantages. One type may be much better suited to your budget and lifestyle than another. Depending on your location, you may find more choices of one particular type of home than others. Single Family Homes Your ownership includes the house and extends to the limits of the property lines. Townhouses Your ownership includes the lot on which your house sits as well as the entire structure. Condominiums Your ownership is limited to a single unit and a shared interest in of all of the common areas.
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