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.