When you’re searching for a new construction home, choosing the type of home you want to live in is one of the first decisions you need to make. From cozy condos to sprawling mansions, there are all kinds of new construction homes to choose from. The right type of home for you depends on the size of your family and your personal needs and preferences. Read on to learn about the types of new construction homes available so that you can make an informed decision about what’s right for you.
Also known as a detached house, a single-family home is a freestanding building that sits on its own plot of land and does not share any walls with other buildings. Single-family homes are the most common type of home in the U.S. They come in a variety of styles and sizes and are designed to accommodate just one family. Single-family homes usually include a front and back yard and offer greater privacy than other home types. Homeowners enjoy greater freedom in decision-making related to their property as compared to condominium owners since they own the interior and exterior of the building as well as the land it is built on. Single-family homes are typically built in suburbs and areas with ample space for housing.
A multi-family home is a single building that includes two or more housing units. These types of homes are designed to accommodate multiple families living separately. Each unit within a multi-family home has its own entrance, living space, kitchen, and bathrooms. Duplexes and buildings containing up to four units are examples of multi-family homes. A multi-family homeowner may live in one unit of the home while renting out the other units. Multi-family homes also allow extended families and relatives to live close to each other in their own separate units. This is often advantageous for elderly people who are able to live independently but may need company or assistance on a regular basis.
A condominium is an individual unit housed within a building of multiple units owned by different homeowners. A condominium owner owns the interior space of their unit but does not own any of the exterior spaces or common areas of the building. Many condominium buildings offer a variety of amenities such as a gym or swimming pool. A condominium is typically more affordable than a single-family home but does not offer the same level of privacy. Condominium buildings are usually managed by a homeowners association (HOA) that maintains the exterior of the building and all common areas. Condominium owners therefore typically pay HOA fees, which may vary based on the amenities offered in the building. Condominium owners are also required to follow any rules put in place by the HOA.
An apartment building comprises multiple units that are similar in layout and design. Apartments are leased to individuals or families and cannot be purchased individually. The owner of the building or the landlord is typically responsible for any required repairs or upgrades to the unit. Many apartment buildings include amenities, such as a gym or swimming pool, and access to them is included in the price of renting an apartment within the building.
A penthouse is a unit contained in a condominium or apartment building that is built with a different layout from other units in the building. A penthouse is traditionally built on the top floor of a building, however, the term is now often used to refer to any unit that offers more space and luxury features and is priced higher than other units in the building. A penthouse may feature a deluxe floor plan, high ceilings, an outdoor terrace, and attractive views.
A townhome is a multi-story house that shares at least one wall with another home and has its own entrance from the street. Townhomes are individually owned and tend to be more affordable than single-family homes. A townhome may or may not offer a back or front yard and does not offer the same level of privacy as a single-family home. Townhomes are most commonly found in large cities with limited space for housing.
What Type of New Construction Home Is Right For You?
When deciding what type of new construction home is right for you, consider the size of your family, your personal needs and preferences related to the space you want to live in, and the level of privacy and autonomy in decision-making that you would like to have. The location in which you want to live may also affect what types of new construction homes are available to you and how affordable they are.
No matter what type of new construction home you’re looking for, or even if you’re not sure yet, NewHomesMate is here to assist. On our platform, you can search for and tour all types of new construction homes in your area. Our industry-leading tools allow you to search for just one home type or several so that you can view and compare all of your options. And if you need help, our new home experts are ready to guide you through each step of the searching and buying process to make it easy for you to turn your dream of owning a new construction home into a reality.
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