Different Home Types

[liowkc]

What are the advantages and disadvantages of different home types such as condo, townhouse and patio homes?

[ithaca]

Besides those 3 that you have mentioned above, other home types include zero lot homes and cooperatives.

Personally I prefer living in condos because of the facilities like the gym and the pool.

[shibuya]

There are many advantages to living in a condo such as:

you can deduct property taxes and interest paid on the condo.

condo normally includes recreational facilities

usually you pay less for a condo than for a single family home.

[paddy]

You forgot to mention the disadvantages:

You are living in a community and as such you must abide by the rules set up in the community. You may also have less privacy.

[seneca]

Another major disadvantage is that in a slow market, condo prices are the first to suffer and the last to rebound.

Seems that there are not much interest in other housing types

[lara]

Ok we shall talk about co-ops

The key difference between a co-op and a condo is in the structure of ownership. Rather than owning real estate, you buy shares in a corporation that owns the building. When you have a certain number of shares, you then have the right to live in a particular unit. This is called a proprietory lease.

[agape]

Also to add that unlike a condo where you can buy if you have the money, For a co-op you must be approved by a board before you can buy.

Very snobby practice, don't you think?

[tiara]

Also worthy of note is that most co-ops are located in New York City but they can also be found in other large cities like Boston or San Francisco.

[Hammond]

Nothing can beat a single unit home over the other home types. With single unit homes you know your boundaries and do not ever have to necessarily deal with your neighbors or pass near them.

[RealAgent]

The advantages and disadvantages have a lot to do with location, size and space. It would take a full essay to comment on each, but if I had a picture of each it would speak more words than what I could type here.